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 Monday. Stock investors bought 41,165 call options on the stock. This is an increase of 301% compared to the average daily volume of 10,270 call options.

Hedge Funds Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors boosted its position in shares of Caesars Entertainment by 29.8% in the 3rd quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock worth $437,622,000 after purchasing an additional 3,716,148 shares in the last quarter. State Street Corp raised its stake in Caesars Entertainment by 0.8% during the second quarter. State Street Corp now owns 7,569,822 shares of the company’s stock valued at $214,907,000 after buying an additional 61,065 shares during the last quarter. Morgan Stanley boosted its holdings in Caesars Entertainment by 121.0% in the fourth quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock worth $167,049,000 after acquiring an additional 3,910,430 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Caesars Entertainment by 246,899,900.0% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock worth $115,500,000 after acquiring an additional 4,937,998 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its holdings in shares of Caesars Entertainment by 0.4% during the fourth quarter. DAVENPORT & Co LLC now owns 4,339,172 shares of the company’s stock valued at $101,797,000 after acquiring an additional 18,414 shares in the last quarter. Institutional investors own 91.79% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on CZR shares. Citizens Jmp reduced their price target on Caesars Entertainment from $37.00 to $34.00 and set a “market outperform” rating on the stock in a report on Wednesday, February 18th. TD Cowen reiterated a “buy” rating on shares of Caesars Entertainment in a research report on Wednesday, January 21st. Susquehanna raised Caesars Entertainment from a “neutral” rating to a “positive” rating and boosted their target price for the company from $25.00 to $31.00 in a research note on Thursday, January 8th. Citigroup reaffirmed a “market outperform” rating on shares of Caesars Entertainment in a research note on Tuesday, March 10th. Finally, Zacks Research upgraded shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Caesars Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $32.13.

Caesars Entertainment Stock Down 0.3%

Shares of NASDAQ CZR traded down $0.08 during mid-day trading on Monday, hitting $26.80. 933,779 shares of the stock traded hands, compared to its average volume of 5,945,425. The company has a market cap of $5.45 billion, a price-to-earnings ratio of -11.03 and a beta of 1.87. The stock has a fifty day moving average price of $24.28 and a 200-day moving average price of $23.41. Caesars Entertainment has a 52 week low of $17.86 and a 52 week high of $31.58. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.78 and a current ratio of 0.80.

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

About Caesars Entertainment

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.