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

Caesars Entertainment, Inc. (NASDAQ:CZR) saw unusually large options trading on Friday. Stock investors purchased 52,115 call options on the stock. This is an increase of approximately 316% compared to the typical daily volume of 12,524 call options.

Insider Transactions at Caesars Entertainment

In other news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of Caesars Entertainment stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the sale, the insider owned 18,263 shares in the company, valued at approximately $536,019.05. The trade was a 81.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael E. Pegram sold 16,897 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $29.46, for a total value of $497,785.62. The disclosure for this sale is available in the SEC filing. Insiders have sold 293,463 shares of company stock worth $8,609,241 in the last quarter. Insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CZR. Caitong International Asset Management Co. Ltd increased its position in Caesars Entertainment by 456.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock worth $26,000 after purchasing an additional 918 shares during the period. Sunbelt Securities Inc. lifted its holdings in shares of Caesars Entertainment by 181.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after buying an additional 672 shares during the period. CoreCap Advisors LLC boosted its stake in shares of Caesars Entertainment by 44.6% in the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock valued at $37,000 after buying an additional 488 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Caesars Entertainment by 87.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock valued at $42,000 after buying an additional 846 shares in the last quarter. Finally, Stance Capital LLC acquired a new position in Caesars Entertainment during the third quarter worth $43,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Performance

NASDAQ:CZR traded up $0.07 during midday trading on Friday, reaching $29.84. The stock had a trading volume of 3,196,529 shares, compared to its average volume of 4,375,054. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.25. The stock has a market cap of $6.08 billion, a P/E ratio of -12.59 and a beta of 1.76. The firm has a fifty day simple moving average of $28.94 and a two-hundred day simple moving average of $26.07. Caesars Entertainment has a 12-month low of $17.86 and a 12-month high of $31.23.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.24). Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The firm had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the previous year, the company posted ($0.54) EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts expect that Caesars Entertainment will post -0.49 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of Caesars Entertainment from $24.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, April 6th. Susquehanna upgraded shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a research note on Friday, May 29th. Barclays reissued an “equal weight” rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research report on Thursday. Zacks Research lowered shares of Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 30th. Finally, Citizens Jmp upped their target price on shares of Caesars Entertainment from $34.00 to $35.00 and gave the company a “market outperform” rating in a report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Caesars Entertainment currently has an average rating of “Hold” and a consensus target price of $31.00.

About Caesars Entertainment

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.