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

Caesars Entertainment, Inc. (NASDAQ:CZR - Get Free Report) saw some unusual options trading activity on Friday. Traders purchased 29,095 put options on the company. This represents an increase of approximately 83% compared to the typical volume of 15,916 put options.

Analyst Upgrades and Downgrades

CZR has been the subject of a number of recent analyst reports. JMP Securities dropped their price target on Caesars Entertainment from $57.00 to $53.00 and set a "market outperform" rating for the company in a report on Thursday, January 16th. Macquarie decreased their target price on Caesars Entertainment from $47.00 to $46.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Truist Financial cut their price target on Caesars Entertainment from $52.00 to $48.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Wells Fargo & Company decreased their price objective on shares of Caesars Entertainment from $53.00 to $50.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Finally, Jefferies Financial Group dropped their target price on shares of Caesars Entertainment from $52.00 to $43.00 and set a "buy" rating for the company in a research note on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $50.00.

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Institutional Trading of Caesars Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Villere ST Denis J & Co. LLC grew its holdings in Caesars Entertainment by 6.2% during the fourth quarter. Villere ST Denis J & Co. LLC now owns 804,205 shares of the company's stock valued at $26,877,000 after purchasing an additional 47,294 shares during the period. Guyasuta Investment Advisors Inc. acquired a new position in shares of Caesars Entertainment in the 4th quarter valued at $385,000. Charles Schwab Investment Management Inc. increased its position in shares of Caesars Entertainment by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,876,971 shares of the company's stock valued at $62,728,000 after buying an additional 11,671 shares in the last quarter. Wellington Management Group LLP raised its stake in Caesars Entertainment by 4.5% during the 3rd quarter. Wellington Management Group LLP now owns 113,405 shares of the company's stock worth $4,734,000 after buying an additional 4,840 shares during the period. Finally, Key Colony Management LLC acquired a new position in Caesars Entertainment in the fourth quarter valued at about $6,350,000. 91.79% of the stock is owned by institutional investors.

Caesars Entertainment Trading Down 0.7 %

CZR stock traded down $0.17 during midday trading on Tuesday, reaching $24.83. The company's stock had a trading volume of 4,438,831 shares, compared to its average volume of 4,628,262. The business's 50-day simple moving average is $32.42 and its 200-day simple moving average is $36.42. The stock has a market cap of $5.26 billion, a PE ratio of -14.87 and a beta of 2.97. Caesars Entertainment has a 52 week low of $24.01 and a 52 week high of $45.93. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of ($0.15) by $0.20. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The business had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.81 billion. As a group, sell-side analysts expect that Caesars Entertainment will post -0.77 EPS for the current year.

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.