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

Caesars Entertainment, Inc. (NASDAQ:CZR) saw some unusual options trading activity on Monday. Traders purchased 43,260 put options on the company. This represents an increase of 226% compared to the typical daily volume of 13,280 put options.

Institutional Investors Weigh In On Caesars Entertainment

A number of institutional investors have recently modified their holdings of CZR. GAMMA Investing LLC boosted its position in shares of Caesars Entertainment by 106.8% in the first quarter. GAMMA Investing LLC now owns 3,987 shares of the company’s stock valued at $100,000 after acquiring an additional 2,059 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Caesars Entertainment by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 24,891 shares of the company’s stock valued at $622,000 after acquiring an additional 665 shares during the period. Retirement Systems of Alabama boosted its position in shares of Caesars Entertainment by 80.0% in the first quarter. Retirement Systems of Alabama now owns 849,336 shares of the company’s stock valued at $21,233,000 after acquiring an additional 377,536 shares during the period. Aspire Private Capital LLC boosted its position in shares of Caesars Entertainment by 60.2% in the first quarter. Aspire Private Capital LLC now owns 12,311 shares of the company’s stock valued at $308,000 after acquiring an additional 4,628 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Caesars Entertainment by 62.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 25,176 shares of the company’s stock valued at $629,000 after acquiring an additional 9,689 shares during the period. Institutional investors own 91.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CZR. JPMorgan Chase & Co. raised their target price on shares of Caesars Entertainment from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, July 22nd. Stifel Nicolaus decreased their target price on shares of Caesars Entertainment from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. JMP Securities decreased their target price on shares of Caesars Entertainment from $41.00 to $40.00 and set a “market outperform” rating for the company in a research note on Friday. The Goldman Sachs Group began coverage on shares of Caesars Entertainment in a research note on Monday, July 7th. They issued a “buy” rating and a $36.00 target price for the company. Finally, Citigroup reissued a “market outperform” rating on shares of Caesars Entertainment in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Caesars Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $42.13.

Caesars Entertainment Trading Up 3.5%

CZR stock opened at $22.20 on Tuesday. The company has a debt-to-equity ratio of 6.08, a current ratio of 0.82 and a quick ratio of 0.81. The company has a fifty day moving average price of $25.35 and a two-hundred day moving average price of $26.86. Caesars Entertainment has a one year low of $21.40 and a one year high of $45.65. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of -24.13 and a beta of 2.38.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.46). The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%.The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.56) earnings per share. Equities analysts anticipate that Caesars Entertainment will post -0.77 EPS for the current year.

About Caesars Entertainment

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.