Stock Traders Buy Large Volume of Caesars Entertainment Call Options (NASDAQ:CZR)

Caesars Entertainment, Inc. (NASDAQ:CZR) saw some unusual options trading on Tuesday. Investors bought 19,839 call options on the stock. This is an increase of approximately 49% compared to the typical daily volume of 13,314 call options.

Analysts Set New Price Targets

CZR has been the topic of a number of research analyst reports. Zacks Research cut shares of Caesars Entertainment from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 30th. Truist Financial dropped their target price on shares of Caesars Entertainment from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. The Goldman Sachs Group downgraded shares of Caesars Entertainment from a “buy” rating to a “neutral” rating and decreased their price target for the company from $25.00 to $24.00 in a research note on Monday, December 15th. Wells Fargo & Company initiated coverage on Caesars Entertainment in a report on Tuesday, November 18th. They issued an “equal weight” rating and a $21.00 price target for the company. Finally, Wall Street Zen cut Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.61.

Caesars Entertainment Stock Up 1.1%

NASDAQ:CZR traded up $0.21 during trading hours on Tuesday, reaching $18.35. The company’s stock had a trading volume of 3,765,997 shares, compared to its average volume of 5,786,962. The stock has a 50 day moving average price of $22.91 and a two-hundred day moving average price of $23.46. The company has a debt-to-equity ratio of 6.23, a quick ratio of 0.76 and a current ratio of 0.78. The company has a market capitalization of $3.74 billion, a P/E ratio of -15.96, a price-to-earnings-growth ratio of 23.49 and a beta of 2.03. Caesars Entertainment has a 12 month low of $17.86 and a 12 month high of $39.86.

Institutional Investors Weigh In On Caesars Entertainment

A number of institutional investors have recently added to or reduced their stakes in the stock. Atom Investors LP bought a new position in Caesars Entertainment in the fourth quarter worth about $527,000. State of Wisconsin Investment Board grew its position in shares of Caesars Entertainment by 18.5% in the 4th quarter. State of Wisconsin Investment Board now owns 121,844 shares of the company’s stock worth $2,850,000 after buying an additional 19,060 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of Caesars Entertainment by 11.2% during the 4th quarter. Captrust Financial Advisors now owns 23,349 shares of the company’s stock worth $546,000 after acquiring an additional 2,354 shares in the last quarter. Royal Bank of Canada lifted its position in Caesars Entertainment by 4.3% during the fourth quarter. Royal Bank of Canada now owns 1,059,058 shares of the company’s stock valued at $24,772,000 after acquiring an additional 43,271 shares during the last quarter. Finally, Alberta Investment Management Corp purchased a new position in Caesars Entertainment in the fourth quarter worth $1,696,000. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Company Profile

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.