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

Caesars Entertainment, Inc. (NASDAQ:CZR) saw some unusual options trading activity on Monday. Stock investors purchased 21,257 call options on the stock. This is an increase of approximately 93% compared to the typical volume of 11,001 call options.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Monday. Zacks Research raised shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Susquehanna increased their price objective on shares of Caesars Entertainment from $32.00 to $34.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. lowered their price objective on shares of Caesars Entertainment from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, April 16th. Finally, Truist Financial increased their price objective on shares of Caesars Entertainment from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $33.27.

Hedge Funds Weigh In On Caesars Entertainment

Several large investors have recently added to or reduced their stakes in CZR. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Caesars Entertainment by 246,899,900.0% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock worth $115,500,000 after purchasing an additional 4,937,998 shares during the last quarter. Morgan Stanley lifted its stake in Caesars Entertainment by 121.0% during the fourth quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock worth $167,049,000 after purchasing an additional 3,910,430 shares during the last quarter. Capital World Investors lifted its stake in Caesars Entertainment by 29.8% during the third quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock worth $437,622,000 after purchasing an additional 3,716,148 shares during the last quarter. Norges Bank bought a new position in Caesars Entertainment during the fourth quarter worth $76,050,000. Finally, MUFG Securities EMEA plc bought a new position in Caesars Entertainment during the fourth quarter worth $65,492,000. 91.79% of the stock is currently owned by institutional investors.

Caesars Entertainment Stock Down 0.4%

CZR stock opened at $27.50 on Wednesday. Caesars Entertainment has a twelve month low of $17.86 and a twelve month high of $31.58. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.25. The company has a market capitalization of $5.60 billion, a P/E ratio of -11.60 and a beta of 1.77. The firm has a 50 day simple moving average of $27.15 and a 200-day simple moving average of $24.06.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.24). Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the business posted ($0.54) EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that Caesars Entertainment will post -0.36 earnings per share for the current fiscal 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.