Caesars Entertainment Records Unusually High Option Volume (NASDAQ:CZR)

Caesars Entertainment, Inc. (NASDAQ:CZR – Get Rating) was the recipient of some unusual activity in options trading on Monday. Traders bought 44,226 call options on the company. This is a 196% increase from the average daily volume of 14,951 call options.

Changes in analyst ratings

CZR has been the subject of a number of recent research reports. Truist Financial lowered its price target on Caesars Entertainment to $70.00 from $72.00 and gave the company a buy rating in a research report on Tuesday, October 25. Stifel Nicolaus lowered his price target on Caesars Entertainment to $63.00 from $113.00 in a report on Tuesday, July 19. Cowen lowered his price target for Caesars Entertainment from $105.00 to $87.00 in a research note on Wednesday, August 3. Cowen lowered his price target on Caesars Entertainment to $75.00 in a research note on Thursday, October 20. Finally, Susquehanna lowered its price target on Caesars Entertainment from $32.00 to $27.00 and gave the stock a negative rating in a research note on Monday, October 3. Two research analysts have rated the stock with a sell rating, two with a hold rating and twelve with a buy rating. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $82.19.

Caesars Entertainment stock performance

CZR shares rose $0.13 on Monday lunchtime to hit $52.25. 171,036 shares of the company were traded compared to an average volume of 3,692,192. The company has a debt to equity ratio of 6.53, a quick ratio of 0.78 and a current ratio of 0.80. The company’s 50-day moving average is $41.03 and its 200-day moving average is $44.82. Caesars Entertainment has a 1 year low of $31.31 and a 1 year high of $106.69.

Insider buys and sells at Caesars Entertainment

In related news, Director Michael E. Pegram purchased 25,000 shares of the company’s stock in a transaction that took place on Friday, November 4th. The shares were purchased at an average price of $44.74 per share for a total value of $1,118,500.00. Upon completion of the transaction, the Director now owns 96,697 shares of the Company, valued at approximately $4,326,223.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed at this link. Company insiders own 0.50% of the company’s stock.

Institutional investors rely on Caesars Entertainment

Institutional investors recently changed their holdings in the company. Wipfli Financial Advisors LLC acquired a new position in Caesars Entertainment stock valued at approximately $25,000 during the third quarter. Quadrant Capital Group LLC increased its stake in Caesars Entertainment by 60.5% in the second quarter. Quadrant Capital Group LLC now owns 777 shares of the company’s stock valued at $30,000 after purchasing an additional 293 shares last quarter. Global Retirement Partners LLC increased its stake in Caesars Entertainment by 76.1% in the third quarter. Global Retirement Partners LLC now owns 805 shares of the company, valued at $35,000, after purchasing an additional 348 shares last quarter. Hexagon Capital Partners LLC acquired a new $29,000 stake in Caesars Entertainment during the third quarter. Finally, in Q3, American National Bank acquired a new $31,000 stake in Caesars Entertainment. 95.55% of the shares are currently owned by institutional investors and hedge funds.

Company Profile of Caesars Entertainment

(received rating)

Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company operates casinos with poker, keno, racing and online sports betting; restaurants, bars, nightclubs and lounges; hotels; and entertainment options. It also offers human resources and management services; accessories, souvenirs and decorative items via retail outlets; and online sports betting and iGaming services.

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