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

Caesars Entertainment, Inc. (NASDAQ:CZR - Get Free Report) shares saw unusually-high trading volume on Thursday . Approximately 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 Ratings Changes

Several equities analysts have recently weighed in on CZR shares. JMP Securities decreased their target price on Caesars Entertainment from $62.00 to $60.00 and set a "market outperform" rating on the stock in a research report on Thursday, May 2nd. Wells Fargo & Company lowered their price objective on Caesars Entertainment from $67.00 to $54.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 1st. TD Cowen cut their target price on Caesars Entertainment from $53.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday, May 1st. Raymond James started coverage on shares of Caesars Entertainment in a research report on Tuesday, May 21st. They set a "strong-buy" rating and a $55.00 price target on the stock. Finally, Barclays cut their price objective on shares of Caesars Entertainment from $65.00 to $63.00 and set an "overweight" rating for the company in a research report on Friday, April 19th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $55.07.

Caesars Entertainment Stock Up 2.3 %

The company has a market cap of $8.45 billion, a price-to-earnings ratio of 11.12 and a beta of 2.89. The firm's fifty day simple moving average is $36.33 and its 200 day simple moving average is $41.12. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 2.65.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced 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). The business had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.82 billion. Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. Sell-side analysts predict that Caesars Entertainment, Inc. will post 0.23 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Michael E. Pegram bought 10,000 shares of the stock in a transaction on Wednesday, May 29th. The shares were purchased at an average price of $31.96 per share, for a total transaction of $319,600.00. Following the acquisition, the director now owns 191,697 shares in the company, valued at $6,126,636.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Michael E. Pegram bought 10,000 shares of Caesars Entertainment stock in a transaction on Wednesday, May 29th. The shares were bought at an average cost of $31.96 per share, for a total transaction of $319,600.00. Following the acquisition, the director now owns 191,697 shares in the company, valued at $6,126,636.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael E. Pegram purchased 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, with a total value of $1,455,600.00. Following the completion of the acquisition, the director now owns 181,697 shares of the company's stock, valued at $6,611,953.83. The disclosure for this purchase can be found here. 0.64% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Caesars Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital Research Global Investors raised its position in Caesars Entertainment by 26.9% in the first quarter. Capital Research Global Investors now owns 15,505,033 shares of the company's stock valued at $678,190,000 after purchasing an additional 3,289,748 shares during the period. Norges Bank acquired a new position in shares of Caesars Entertainment during the fourth quarter worth $102,213,000. Nut Tree Capital Management LP grew its holdings in Caesars Entertainment by 340.0% during the 1st quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company's stock valued at $96,228,000 after purchasing an additional 1,700,000 shares in the last quarter. EdgePoint Investment Group Inc. lifted its holdings in Caesars Entertainment by 35.4% in the 1st quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company's stock worth $253,651,000 after buying an additional 1,515,763 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Caesars Entertainment by 938.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,043,044 shares of the company's stock valued at $48,345,000 after buying an additional 942,621 shares during the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

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.