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

Caesars Entertainment Co. (NASDAQ:CZR) was the recipient of some unusual options trading on Tuesday. Stock investors bought 15,225 call options on the stock. This is an increase of 1,292% compared to the average daily volume of 1,094 call options.

In other news, CAO Keith Causey sold 5,605 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $13.08, for a total value of $73,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard D. Broome sold 118,668 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $13.02, for a total value of $1,545,057.36. The disclosure for this sale can be found here. Insiders have sold 133,273 shares of company stock valued at $1,736,271 over the last three months. Insiders own 0.51% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cerebellum GP LLC bought a new position in shares of Caesars Entertainment during the third quarter worth approximately $127,000. Ibex Investors LLC bought a new position in shares of Caesars Entertainment during the third quarter worth approximately $181,000. Weaver Consulting Group bought a new position in shares of Caesars Entertainment during the third quarter worth approximately $230,000. Cetera Advisors LLC increased its stake in shares of Caesars Entertainment by 26.6% during the third quarter. Cetera Advisors LLC now owns 19,775 shares of the company’s stock worth $231,000 after purchasing an additional 4,150 shares during the period. Finally, Strs Ohio increased its stake in shares of Caesars Entertainment by 46.8% during the third quarter. Strs Ohio now owns 21,383 shares of the company’s stock worth $249,000 after purchasing an additional 6,819 shares during the period.

Shares of NASDAQ CZR opened at $13.57 on Wednesday. The firm has a market cap of $9.29 billion, a P/E ratio of -71.42 and a beta of 1.40. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 7.52. Caesars Entertainment has a 1-year low of $8.00 and a 1-year high of $13.69. The business’s 50 day moving average is $13.34 and its 200-day moving average is $12.29.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, November 5th. The company reported ($0.53) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.49). The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.21 billion. Caesars Entertainment had a negative return on equity of 14.01% and a negative net margin of 7.98%. Caesars Entertainment’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. Analysts forecast that Caesars Entertainment will post -0.76 EPS for the current year.

CZR has been the subject of a number of recent analyst reports. Zacks Investment Research cut Caesars Entertainment from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. BidaskClub cut Caesars Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine cut Caesars Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. UBS Group raised their price objective on Caesars Entertainment from $12.00 to $13.75 and gave the company a “neutral” rating in a research report on Friday, January 10th. Finally, Deutsche Bank set a $13.00 price objective on Caesars Entertainment and gave the company a “buy” rating in a research report on Monday, September 23rd. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Caesars Entertainment currently has an average rating of “Hold” and a consensus target price of $12.50.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 39,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and approximately 180 buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.

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