Investors Purchase Large Volume of Put Options on Caesars Entertainment (NASDAQ:CZR)

Caesars Entertainment, Inc. (NASDAQ:CZR) was the target of unusually large options trading activity on Tuesday. Investors acquired 22,750 put options on the company. This is an increase of approximately 41% compared to the average daily volume of 16,091 put options.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CZR. Stifel Nicolaus increased their price target on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. StockNews.com raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $59.00 price target on shares of Caesars Entertainment in a research note on Monday, October 14th. Susquehanna reiterated a “negative” rating and set a $33.00 price objective on shares of Caesars Entertainment in a report on Wednesday, July 31st. Finally, Barclays reduced their target price on Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Caesars Entertainment Price Performance

CZR traded down $0.73 during trading on Tuesday, reaching $38.92. 1,842,767 shares of the company were exchanged, compared to its average volume of 4,162,119. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The company has a market cap of $8.27 billion, a price-to-earnings ratio of -23.74 and a beta of 2.96. Caesars Entertainment has a 12-month low of $31.74 and a 12-month high of $50.51. The company’s 50-day moving average is $41.14 and its two-hundred day moving average is $38.18.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.25). The business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. Caesars Entertainment’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 earnings per share. Research analysts forecast that Caesars Entertainment will post -0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

Large investors have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in shares of Caesars Entertainment by 9.8% in the 3rd quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock worth $116,000 after acquiring an additional 248 shares during the last quarter. Assetmark Inc. lifted its stake in Caesars Entertainment by 8.0% in the third quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock worth $144,000 after purchasing an additional 256 shares during the last quarter. American Trust boosted its position in Caesars Entertainment by 4.5% during the first quarter. American Trust now owns 7,346 shares of the company’s stock valued at $321,000 after buying an additional 313 shares during the period. Private Advisor Group LLC grew its stake in shares of Caesars Entertainment by 3.0% during the third quarter. Private Advisor Group LLC now owns 10,850 shares of the company’s stock valued at $453,000 after buying an additional 317 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Caesars Entertainment by 25.1% in the third quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock worth $84,000 after buying an additional 403 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Company Profile

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.