Caesars Entertainment (NASDAQ:CZR) Sees Unusually-High Trading Volume

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) saw unusually-high trading volume on Thursday . Approximately 1,324,408 shares changed hands during mid-day trading, a decline of 65% from the previous session’s volume of 3,745,903 shares.The stock last traded at $38.60 and had previously closed at $38.15.

Wall Street Analyst Weigh In

CZR has been the topic of several recent research reports. Stifel Nicolaus decreased their price target on shares of Caesars Entertainment from $67.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Raymond James started coverage on shares of Caesars Entertainment in a research report on Tuesday, May 21st. They issued a “strong-buy” rating and a $55.00 price target on the stock. Wells Fargo & Company decreased their price objective on shares of Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Barclays decreased their price objective on shares of Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Finally, TD Cowen decreased their price objective on shares of Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.07.

Caesars Entertainment Stock Up 2.9 %

The firm has a market capitalization of $8.50 billion, a PE ratio of 10.81 and a beta of 2.89. The business’s 50 day simple moving average is $36.33 and its 200 day simple moving average is $41.12. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 2.65.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.52). Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.82 billion. On average, equities research analysts forecast that Caesars Entertainment, Inc. will post 0.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Michael E. Pegram bought 10,000 shares of the stock in a transaction dated Wednesday, May 29th. The stock was purchased at an average price of $31.96 per share, for a total transaction of $319,600.00. Following the acquisition, the director now owns 191,697 shares of the company’s stock, valued at $6,126,636.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Michael E. Pegram acquired 40,000 shares of the stock in a transaction on Friday, May 3rd. The stock was bought at an average cost of $36.39 per share, with a total value of $1,455,600.00. Following the transaction, the director now directly owns 181,697 shares in the company, valued at $6,611,953.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael E. Pegram purchased 10,000 shares of the stock in a transaction dated Wednesday, May 29th. The stock was acquired at an average cost of $31.96 per share, with a total value of $319,600.00. Following the transaction, the director now directly owns 191,697 shares in the company, valued at approximately $6,126,636.12. The disclosure for this purchase can be found here. Corporate insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Caesars Entertainment

Several hedge funds have recently modified their holdings of CZR. American Trust lifted its position in Caesars Entertainment by 4.5% during the first quarter. American Trust now owns 7,346 shares of the company’s stock valued at $321,000 after acquiring an additional 313 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in Caesars Entertainment by 26.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 27,420 shares of the company’s stock valued at $1,173,000 after acquiring an additional 5,715 shares during the last quarter. Second Line Capital LLC lifted its position in Caesars Entertainment by 18.0% during the first quarter. Second Line Capital LLC now owns 75,881 shares of the company’s stock valued at $3,319,000 after acquiring an additional 11,597 shares during the last quarter. Sona Asset Management US LLC purchased a new stake in Caesars Entertainment during the first quarter valued at approximately $5,249,000. Finally, EdgePoint Investment Group Inc. lifted its position in Caesars Entertainment by 35.4% during the first quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock valued at $253,651,000 after acquiring an additional 1,515,763 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

About Caesars Entertainment

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.