Investors Buy Large Volume of Put Options on Caesars Entertainment Corp (CZR)
Shares of Caesars Entertainment Corp (NYSE:CZR) were the target of some unusual options trading on Friday. Stock traders bought 5,726 put options on the company, Analyst Ratings Network reports. This represents an increase of approximately 446% compared to the average daily volume of 1,049 put options.
Caesars Entertainment Corp (NYSE:CZR) traded up 2.56% on Friday, hitting $18.05. 1,264,664 shares of the company’s stock traded hands. Caesars Entertainment Corp has a one year low of $11.90 and a one year high of $26.74. The stock has a 50-day moving average of $18.66 and a 200-day moving average of $20.86. The company’s market cap is $2.603 billion.
Caesars Entertainment Corp (NYSE:CZR) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($2.82) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($1.36) by $1.46. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the prior year, the company posted ($1.74) earnings per share. The company’s quarterly revenue was down 1.9% on a year-over-year basis. On average, analysts predict that Caesars Entertainment Corp will post $-5.24 earnings per share for the current fiscal year.
Caesars Entertainment Corporation is a diversified casino-entertainment provider. The Company’s business is primarily conducted through a wholly owned subsidiary, Caesars Entertainment Operating Company, Inc (NYSE:CZR), although certain material properties are not owned by CEOC.
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