Traders Purchase Large Volume of Call Options on Caesars Entertainment (NASDAQ:CZR)

Caesars Entertainment, Inc. (NASDAQ:CZR) was the recipient of some unusual options trading activity on Tuesday. Traders acquired 22,696 call options on the company. This is an increase of 87% compared to the average daily volume of 12,168 call options.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Texas Capital downgraded shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Raymond James Financial cut Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research note on Friday, May 29th. Capital One Financial downgraded Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research note on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a report on Monday, June 1st. Two analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.71.

Insider Buying and Selling at Caesars Entertainment

In related news, Director Michael E. Pegram sold 16,897 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $29.46, for a total value of $497,785.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the sale, the insider directly owned 18,263 shares in the company, valued at approximately $536,019.05. The trade was a 81.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 293,463 shares of company stock worth $8,609,241 in the last 90 days. 1.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Caesars Entertainment

Hedge funds have recently bought and sold shares of the business. Sunbelt Securities Inc. increased its stake in Caesars Entertainment by 181.6% in the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after purchasing an additional 672 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in shares of Caesars Entertainment by 456.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock worth $26,000 after purchasing an additional 918 shares during the last quarter. Hantz Financial Services Inc. increased its stake in Caesars Entertainment by 87.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock worth $42,000 after buying an additional 846 shares during the period. EverSource Wealth Advisors LLC increased its stake in Caesars Entertainment by 59.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock worth $50,000 after buying an additional 702 shares during the period. Finally, Hilton Head Capital Partners LLC bought a new stake in Caesars Entertainment during the 4th quarter valued at about $55,000. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Trading Down 0.7%

NASDAQ CZR traded down $0.21 during trading on Tuesday, hitting $29.86. The stock had a trading volume of 836,919 shares, compared to its average volume of 5,859,800. Caesars Entertainment has a one year low of $17.86 and a one year high of $30.88. The stock has a 50 day simple moving average of $29.78 and a 200 day simple moving average of $26.93. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of -13.10 and a beta of 1.77. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.83 and a current ratio of 0.85.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, July 28th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.35). Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the prior year, the company posted ($0.39) EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Sell-side analysts predict that Caesars Entertainment will post -0.9 earnings per share for the current year.

About Caesars Entertainment

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.