Stock Traders Purchase Large Volume of Caesars Entertainment Call Options (NASDAQ:CZR)

Caesars Entertainment, Inc. (NASDAQ:CZR) was the recipient of unusually large options trading on Monday. Stock traders purchased 21,740 call options on the company. This represents an increase of approximately 47% compared to the typical volume of 14,778 call options.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CZR shares. Susquehanna cut shares of Caesars Entertainment from a “neutral” rating to a “negative” rating and dropped their target price for the company from $44.00 to $33.00 in a research report on Monday, July 15th. Raymond James started coverage on shares of Caesars Entertainment in a research report on Tuesday, May 21st. They issued a “strong-buy” rating and a $55.00 target price on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Truist Financial decreased their price target on shares of Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Morgan Stanley lowered their target price on Caesars Entertainment from $43.00 to $41.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Caesars Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $54.33.

Insiders Place Their Bets

In related news, Director Michael E. Pegram purchased 40,000 shares of the stock in a transaction on Friday, May 3rd. The shares were purchased at an average price 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 of the company’s stock, valued at $6,611,953.83. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other Caesars Entertainment news, Director Michael E. Pegram bought 40,000 shares of Caesars Entertainment stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $36.39 per share, with a total value of $1,455,600.00. Following the completion of the transaction, the director now owns 181,697 shares in the company, valued at approximately $6,611,953.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank J. Fahrenkopf, Jr. sold 10,000 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $32.52, for a total transaction of $325,200.00. Following the transaction, the director now owns 350 shares in the company, valued at approximately $11,382. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Caesars Entertainment

Several institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its stake in shares of Caesars Entertainment by 525.3% during the 2nd quarter. Blue Trust Inc. now owns 594 shares of the company’s stock valued at $26,000 after buying an additional 499 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Caesars Entertainment in the fourth quarter valued at $45,000. Principal Securities Inc. purchased a new stake in Caesars Entertainment during the 4th quarter worth about $46,000. Mather Group LLC. bought a new stake in shares of Caesars Entertainment during the first quarter valued at about $53,000. Finally, TFO Wealth Partners LLC boosted its holdings in Caesars Entertainment by 22,920.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock valued at $54,000 after purchasing an additional 1,146 shares during the period. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Up 4.0 %

CZR traded up $1.40 during midday trading on Monday, hitting $36.46. The company had a trading volume of 4,175,878 shares, compared to its average volume of 3,892,365. The stock’s 50 day moving average price is $36.61 and its 200 day moving average price is $39.66. Caesars Entertainment has a 52 week low of $31.74 and a 52 week high of $59.50. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 2.65. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 10.18 and a beta of 2.99.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, April 30th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.52). Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.82 billion. On average, research analysts anticipate that Caesars Entertainment will post -0.13 earnings per share for the current fiscal 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.