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

Key Points

• Caesars Entertainment saw unusually heavy options activity on Thursday, with investors buying 18,430 call options. That was 46% above the stock’s normal call volume.
• Insiders have recently been selling shares, including Edmund L. Quatmann, Jr. and Director Michael E. Pegram. Company insiders sold 293,463 shares worth about $8.6 million over the last quarter.
• Analyst sentiment remains mixed to cautious, with Caesars holding an average “Hold” rating and a consensus price target of $32.53. The stock closed at $30.61, near its 12-month high of $31.58.

Caesars Entertainment, Inc. (NASDAQ:CZR - Get Free Report) saw unusually large options trading activity on Thursday. Stock investors acquired 18,430 call options on the stock. This is an increase of 46% compared to the typical volume of 12,586 call options.

Insider Buying and Selling

In other news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total value of $2,393,962.10. Following the sale, the insider owned 18,263 shares of the company's stock, valued at $536,019.05. The trade was a 81.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael E. Pegram sold 16,897 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $29.46, for a total transaction of $497,785.62. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 293,463 shares of company stock worth $8,609,241 over the last quarter. 1.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Caesars Entertainment

A number of institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. grew its position in shares of Caesars Entertainment by 317.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,274,430 shares of the company's stock worth $76,589,000 after purchasing an additional 2,490,924 shares in the last quarter. Capital World Investors raised its position in shares of Caesars Entertainment by 29.8% in the third quarter. Capital World Investors now owns 16,193,070 shares of the company's stock valued at $437,622,000 after buying an additional 3,716,148 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Caesars Entertainment by 61.9% in the fourth quarter. SG Americas Securities LLC now owns 1,097,763 shares of the company's stock valued at $25,677,000 after buying an additional 419,617 shares during the period. HighVista Strategies LLC bought a new stake in shares of Caesars Entertainment in the third quarter valued at approximately $1,162,000. Finally, Aquatic Capital Management LLC grew its position in Caesars Entertainment by 710.0% during the third quarter. Aquatic Capital Management LLC now owns 571,631 shares of the company's stock worth $15,448,000 after buying an additional 501,055 shares in the last quarter. Institutional investors own 91.79% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CZR. Citizens Jmp lifted their target price on Caesars Entertainment from $34.00 to $35.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research note on Friday, May 29th. Wall Street Zen raised shares of Caesars Entertainment from a "sell" rating to a "hold" rating in a research note on Saturday, April 4th. Morgan Stanley upped their price target on shares of Caesars Entertainment from $32.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 8th. Finally, Raymond James Financial lowered shares of Caesars Entertainment from a "strong-buy" rating to a "market perform" rating in a research note on Friday, May 29th. Four equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Caesars Entertainment has an average rating of "Hold" and an average target price of $32.53.

Caesars Entertainment Stock Performance

Shares of NASDAQ:CZR traded up $1.01 during trading on Thursday, reaching $30.61. 6,735,406 shares of the stock were exchanged, compared to its average volume of 6,408,874. Caesars Entertainment has a 12 month low of $17.86 and a 12 month high of $31.58. The stock has a 50-day moving average price of $28.31 and a 200-day moving average price of $25.55. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.25. The firm has a market cap of $6.23 billion, a PE ratio of -12.90 and a beta of 1.77.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.24). The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.Caesars Entertainment's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.54) EPS. Research analysts expect that Caesars Entertainment will post -0.49 EPS for the current fiscal year.

Caesars Entertainment Company Profile

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.

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