Caesars Entertainment Sees Unusually High Options Volume (NASDAQ:CZR)

Caesars Entertainment, Inc. (NASDAQ:CZR) saw some unusual options trading activity on Friday. Investors acquired 29,095 put options on the stock. This represents an increase of 83% compared to the typical volume of 15,916 put options.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Jefferies Financial Group decreased their price objective on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Barclays decreased their price target on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Truist Financial dropped their price target on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Wells Fargo & Company decreased their price objective on shares of Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, TD Cowen lowered their target price on shares of Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.00.

Institutional Investors Weigh In On Caesars Entertainment

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP grew its holdings in shares of Caesars Entertainment by 45.8% in the 4th quarter. Wellington Management Group LLP now owns 165,351 shares of the company’s stock worth $5,526,000 after acquiring an additional 51,946 shares during the period. American Assets Investment Management LLC purchased a new stake in Caesars Entertainment in the 4th quarter valued at about $318,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Caesars Entertainment during the fourth quarter worth approximately $14,599,000. American Trust raised its stake in Caesars Entertainment by 8.7% during the fourth quarter. American Trust now owns 7,505 shares of the company’s stock worth $251,000 after purchasing an additional 601 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Caesars Entertainment by 52.3% in the 4th quarter. Mackenzie Financial Corp now owns 10,959 shares of the company’s stock valued at $366,000 after purchasing an additional 3,764 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Stock Down 5.0 %

Caesars Entertainment stock opened at $25.67 on Friday. The stock’s fifty day moving average is $32.79 and its two-hundred day moving average is $36.60. The stock has a market cap of $5.44 billion, a PE ratio of -15.37 and a beta of 2.97. Caesars Entertainment has a 1-year low of $25.43 and a 1-year high of $45.93. 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 issued its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.81 billion. On average, sell-side analysts expect that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Caesars Entertainment Company Profile

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.