Caesars Entertainment (NASDAQ:CZR) Sees Unusually-High Trading Volume

Caesars Entertainment, Inc. (NASDAQ:CZR) shares saw an uptick in trading volume on Thursday . 1,324,408 shares were traded during mid-day trading, a decline of 65% from the previous session’s volume of 3,745,903 shares.The stock last traded at $38.60 and had previously closed at $38.15.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CZR. Raymond James began coverage on shares of Caesars Entertainment in a research report on Tuesday, May 21st. They issued a “strong-buy” rating and a $55.00 price objective for the company. JMP Securities reduced their target price on Caesars Entertainment from $62.00 to $60.00 and set a “market outperform” rating for the company in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, April 12th. Wells Fargo & Company reduced their target price on Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Finally, Stifel Nicolaus reduced their target price on Caesars Entertainment from $67.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.07.

Caesars Entertainment Price Performance

The stock has a 50 day moving average of $36.33 and a two-hundred day moving average of $41.12. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.67 and a current ratio of 0.69. The firm has a market capitalization of $8.50 billion, a P/E ratio of 10.81 and a beta of 2.89.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.52). Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.82 billion. Sell-side analysts predict that Caesars Entertainment, Inc. will post 0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Caesars Entertainment news, Director Michael E. Pegram purchased 40,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were bought at an average cost of $36.39 per share, with a total value of $1,455,600.00. Following the transaction, the director now directly owns 181,697 shares in the company, valued at approximately $6,611,953.83. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Caesars Entertainment news, Director Michael E. Pegram purchased 10,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were bought at an average cost of $31.96 per share, with a total value of $319,600.00. Following the transaction, the director now directly owns 191,697 shares in the company, valued at approximately $6,126,636.12. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael E. Pegram acquired 40,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $36.39 per share, for a total transaction of $1,455,600.00. Following the completion of the transaction, the director now owns 181,697 shares of the company’s stock, valued at approximately $6,611,953.83. The disclosure for this purchase can be found here. Company insiders own 0.64% of the company’s stock.

Institutional Trading of Caesars Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of CZR. Altshuler Shaham Ltd bought a new stake in shares of Caesars Entertainment during the fourth quarter valued at approximately $45,000. Principal Securities Inc. acquired a new stake in Caesars Entertainment in the 4th quarter valued at $46,000. Mather Group LLC. bought a new stake in Caesars Entertainment in the first quarter valued at $53,000. TFO Wealth Partners LLC raised its stake in Caesars Entertainment by 22,920.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock worth $54,000 after acquiring an additional 1,146 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of Caesars Entertainment during the fourth quarter valued at $93,000. 91.79% of the stock is currently owned by institutional investors.

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.