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

Caesars Entertainment, Inc. (NASDAQ:CZR) was the recipient of unusually large options trading on Tuesday. Traders bought 27,675 put options on the stock. This is an increase of 138% compared to the average volume of 11,619 put options.

Analyst Ratings Changes

Several analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Caesars Entertainment from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, July 22nd. Citigroup reaffirmed a “market outperform” rating on shares of Caesars Entertainment in a report on Friday, July 18th. Susquehanna raised their target price on Caesars Entertainment from $23.00 to $28.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Barclays dropped their target price on Caesars Entertainment from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Capital One Financial raised Caesars Entertainment from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $51.00 to $47.00 in a report on Thursday, April 3rd. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.60.

Institutional Trading of Caesars Entertainment

Several large investors have recently made changes to their positions in CZR. JFS Wealth Advisors LLC increased its position in shares of Caesars Entertainment by 508.5% during the second quarter. JFS Wealth Advisors LLC now owns 864 shares of the company’s stock worth $25,000 after purchasing an additional 722 shares in the last quarter. Mather Group LLC. lifted its position in Caesars Entertainment by 64.4% during the first quarter. Mather Group LLC. now owns 1,034 shares of the company’s stock worth $26,000 after buying an additional 405 shares in the last quarter. FIL Ltd purchased a new position in Caesars Entertainment during the fourth quarter worth approximately $28,000. UMB Bank n.a. lifted its position in Caesars Entertainment by 52.0% during the second quarter. UMB Bank n.a. now owns 1,049 shares of the company’s stock worth $30,000 after buying an additional 359 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Caesars Entertainment by 168.5% during the second quarter. Farther Finance Advisors LLC now owns 1,133 shares of the company’s stock worth $32,000 after buying an additional 711 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $27.89 on Thursday. The company has a market capitalization of $5.80 billion, a P/E ratio of -30.31 and a beta of 2.29. The business’s 50 day moving average is $28.43 and its two-hundred day moving average is $29.67. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 5.84. Caesars Entertainment has a 12-month low of $21.40 and a 12-month high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.46). The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.49%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.56) EPS. 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.