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

Caesars Entertainment, Inc. (NASDAQ:CZR) was the recipient of some unusual options trading activity on Monday. Stock traders acquired 41,165 call options on the company. This represents an increase of 301% compared to the typical daily volume of 10,270 call options.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CZR. Zacks Research upgraded shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. The Goldman Sachs Group cut shares of Caesars Entertainment from a “buy” rating to a “neutral” rating and dropped their price target for the company from $25.00 to $24.00 in a research note on Monday, December 15th. Jefferies Financial Group upped their price target on shares of Caesars Entertainment from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, April 6th. Wall Street Zen upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Caesars Entertainment currently has an average rating of “Moderate Buy” and an average target price of $32.13.

Caesars Entertainment Stock Performance

NASDAQ CZR opened at $26.75 on Tuesday. Caesars Entertainment has a 1 year low of $17.86 and a 1 year high of $31.58. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.80 and a quick ratio of 0.78. The stock has a market capitalization of $5.44 billion, a PE ratio of -11.01 and a beta of 1.87. The company’s 50 day simple moving average is $24.40 and its two-hundred day simple moving average is $23.41.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, February 17th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($1.05). Caesars Entertainment had a negative return on equity of 7.97% and a negative net margin of 4.37%.The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the prior year, the company earned $0.05 earnings per share. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Analysts predict that Caesars Entertainment will post -0.77 earnings per share for the current fiscal year.

Institutional Trading of Caesars Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of the company. CoreCap Advisors LLC lifted its stake in Caesars Entertainment by 44.6% in the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock worth $37,000 after purchasing an additional 488 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Caesars Entertainment by 1.0% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 52,133 shares of the company’s stock worth $1,220,000 after purchasing an additional 493 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in Caesars Entertainment by 110.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock worth $26,000 after purchasing an additional 510 shares in the last quarter. Corient Private Wealth LLC lifted its stake in Caesars Entertainment by 3.5% in the 2nd quarter. Corient Private Wealth LLC now owns 16,155 shares of the company’s stock worth $459,000 after purchasing an additional 549 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Caesars Entertainment by 1.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,008 shares of the company’s stock worth $959,000 after purchasing an additional 562 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

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.