Caesars Entertainment Target of Unusually Large Options Trading (NASDAQ:CZR)

Caesars Entertainment, Inc. (NASDAQ:CZR) was the recipient of some unusual options trading activity on Tuesday. Stock investors purchased 26,448 call options on the company. This represents an increase of 70% compared to the average daily volume of 15,595 call options.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Bogart Wealth LLC grew its position in shares of Caesars Entertainment by 1,777.8% during the 4th quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock valued at $28,000 after acquiring an additional 800 shares during the period. FIL Ltd bought a new position in shares of Caesars Entertainment during the 4th quarter valued at approximately $28,000. Huntington National Bank lifted its stake in shares of Caesars Entertainment by 3,203.8% during the 3rd quarter. Huntington National Bank now owns 859 shares of the company’s stock valued at $36,000 after buying an additional 833 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in shares of Caesars Entertainment during the 4th quarter valued at approximately $44,000. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Caesars Entertainment by 100.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company’s stock valued at $53,000 after buying an additional 800 shares in the last quarter. 91.79% of the stock is owned by institutional investors.

Caesars Entertainment Stock Performance

Shares of Caesars Entertainment stock traded down $0.52 on Tuesday, reaching $27.56. 3,901,092 shares of the company traded hands, compared to its average volume of 4,332,015. Caesars Entertainment has a 52 week low of $26.42 and a 52 week high of $45.93. The company has a 50 day moving average of $33.71 and a 200 day moving average of $37.18. The firm has a market capitalization of $5.84 billion, a PE ratio of -16.50 and a beta of 2.97. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.20. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.81 billion. Equities analysts forecast that Caesars Entertainment will post -0.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CZR shares. Barclays reduced their price objective on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Truist Financial reduced their price objective on shares of Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group reduced their price objective on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a report on Friday, January 3rd. JMP Securities reduced their price objective on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating for the company in a report on Thursday, January 16th. Finally, Macquarie reduced their price objective on shares of Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Caesars Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $50.43.

About Caesars Entertainment

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.