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

Caesars Entertainment, Inc. (NASDAQ:CZR) was the recipient of some unusual options trading activity on Tuesday. Stock investors acquired 26,448 call options on the company. This represents an increase of approximately 70% compared to the average volume of 15,595 call options.

Analysts Set New Price Targets

A number of analysts have weighed in on CZR shares. Truist Financial cut their target price on shares of Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Macquarie cut their target price on shares of Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Susquehanna upgraded shares of Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 target price on the stock in a research report on Thursday, March 6th. JPMorgan Chase & Co. cut their target price on shares of Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Finally, JMP Securities dropped their price target on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating for the company in a research note on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.43.

Caesars Entertainment Trading Down 1.9 %

NASDAQ CZR traded down $0.52 during mid-day trading on Tuesday, reaching $27.56. 3,901,092 shares of the stock were exchanged, compared to its average volume of 4,332,015. Caesars Entertainment has a one year low of $26.42 and a one year high of $45.93. The stock has a 50 day simple moving average of $33.71 and a 200-day simple moving average of $37.18. The stock has a market cap of $5.84 billion, a P/E ratio of -16.50 and a beta of 2.97. 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 announced its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $2.81 billion. On average, analysts anticipate that Caesars Entertainment will post -0.77 EPS for the current year.

Hedge Funds Weigh In On Caesars Entertainment

Hedge funds have recently bought and sold shares of the company. Capital Research Global Investors increased its stake in Caesars Entertainment by 14.8% in the fourth quarter. Capital Research Global Investors now owns 19,811,919 shares of the company’s stock valued at $662,088,000 after purchasing an additional 2,555,876 shares in the last quarter. Norges Bank bought a new stake in Caesars Entertainment in the fourth quarter valued at $75,058,000. Janus Henderson Group PLC increased its stake in Caesars Entertainment by 18.7% in the third quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock valued at $526,309,000 after purchasing an additional 1,983,151 shares in the last quarter. Cohen & Steers Inc. increased its stake in Caesars Entertainment by 14.8% in the fourth quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company’s stock valued at $487,265,000 after purchasing an additional 1,882,728 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in Caesars Entertainment in the fourth quarter valued at $57,629,000. Institutional investors own 91.79% of the company’s stock.

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.