Investors Buy Large Volume of Caesars Entertainment Call Options (NASDAQ:CZR)

Caesars Entertainment, Inc. (NASDAQ:CZR) saw unusually large options trading activity on Monday. Traders bought 21,257 call options on the stock. This is an increase of 93% compared to the average daily volume of 11,001 call options.

Caesars Entertainment Trading Down 0.6%

Shares of CZR stock opened at $27.62 on Tuesday. 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 3.25, a quick ratio of 0.83 and a current ratio of 0.85. The company has a 50-day simple moving average of $27.13 and a two-hundred day simple moving average of $24.00. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of -11.65 and a beta of 1.77.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.24). Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the previous year, the company posted ($0.54) earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts anticipate that Caesars Entertainment will post -0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA boosted its stake in Caesars Entertainment by 1.2% in the first quarter. Pictet Asset Management Holding SA now owns 31,307 shares of the company’s stock valued at $827,000 after acquiring an additional 363 shares during the last quarter. CoreCap Advisors LLC boosted its stake in Caesars Entertainment by 44.6% in the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock valued at $37,000 after acquiring an additional 488 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Caesars Entertainment by 1.0% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 52,133 shares of the company’s stock valued at $1,220,000 after acquiring an additional 493 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Caesars Entertainment by 110.6% in the third quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock valued at $26,000 after acquiring an additional 510 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its stake in Caesars Entertainment by 3.5% in the second quarter. Corient Private Wealth LLC now owns 16,155 shares of the company’s stock valued at $459,000 after acquiring an additional 549 shares during the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CZR. Wells Fargo & Company boosted their target price on shares of Caesars Entertainment from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. Jefferies Financial Group boosted their target price on shares of Caesars Entertainment from $24.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, April 6th. Morgan Stanley boosted their target price on shares of Caesars Entertainment from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 8th. JPMorgan Chase & Co. decreased their target price on shares of Caesars Entertainment from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, April 16th. Finally, Citizens Jmp boosted their target price on shares of Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Caesars Entertainment presently has an average rating of “Hold” and a consensus price target of $33.27.

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.