Caesars Entertainment Target of Unusually Large Options Trading (NASDAQ:CZR)

Caesars Entertainment, Inc. (NASDAQ:CZR) was the recipient of unusually large options trading on Thursday. Traders purchased 26,344 put options on the stock. This is an increase of approximately 84% compared to the average daily volume of 14,332 put options.

Analyst Ratings Changes

Several analysts recently commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Caesars Entertainment in a research report on Wednesday, October 8th. Jefferies Financial Group cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating and cut their price target for the company from $39.00 to $22.00 in a report on Tuesday, November 4th. Wells Fargo & Company began coverage on shares of Caesars Entertainment in a research report on Tuesday, November 18th. They set an “equal weight” rating and a $21.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of Caesars Entertainment from $43.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Finally, Stifel Nicolaus cut their target price on Caesars Entertainment from $43.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Caesars Entertainment currently has an average rating of “Moderate Buy” and an average target price of $35.56.

Caesars Entertainment Stock Performance

NASDAQ:CZR opened at $24.63 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.76 and a debt-to-equity ratio of 6.23. Caesars Entertainment has a 12-month low of $18.25 and a 12-month high of $40.00. The stock has a 50-day moving average price of $22.58 and a 200 day moving average price of $24.91. The stock has a market capitalization of $5.03 billion, a P/E ratio of -21.42, a P/E/G ratio of 5.13 and a beta of 2.03.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, October 28th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.16). Caesars Entertainment had a negative return on equity of 5.76% and a negative net margin of 2.12%.The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period last year, the firm posted ($0.04) EPS. Caesars Entertainment’s quarterly revenue was down .2% compared to the same quarter last year. Equities research analysts forecast that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital World Investors lifted its holdings in shares of Caesars Entertainment by 29.8% in the 3rd quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock worth $437,622,000 after acquiring an additional 3,716,148 shares during the last quarter. Norges Bank purchased a new position in shares of Caesars Entertainment during the second quarter valued at approximately $79,604,000. Assenagon Asset Management S.A. grew its stake in shares of Caesars Entertainment by 317.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,274,430 shares of the company’s stock valued at $76,589,000 after buying an additional 2,490,924 shares during the last quarter. Ossiam raised its holdings in shares of Caesars Entertainment by 7,760.9% in the third quarter. Ossiam now owns 1,883,007 shares of the company’s stock worth $50,888,000 after buying an additional 1,859,053 shares during the period. Finally, Nomura Holdings Inc. lifted its stake in shares of Caesars Entertainment by 654.5% during the 2nd quarter. Nomura Holdings Inc. now owns 1,787,505 shares of the company’s stock worth $50,747,000 after acquiring an additional 1,550,589 shares during the last quarter. Institutional investors own 91.79% of the company’s stock.

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.