Caesars Entertainment (NASDAQ:CZR) Sees Unusually-High Trading Volume – Should You Buy?

Caesars Entertainment, Inc. (NASDAQ:CZR) shares saw an uptick in trading volume on Wednesday . Approximately 7,062,327 shares traded hands during trading, an increase of 20% from the previous session’s volume of 5,878,859 shares.The stock last traded at $29.6750 and had previously closed at $29.74.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Raymond James Financial lowered shares of Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a report on Friday, May 29th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research report on Friday, May 29th. TD Cowen downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research note on Wednesday, July 29th. Susquehanna raised shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a research note on Friday, May 29th. Finally, Zacks Research upgraded shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a report on Thursday, July 16th. Two research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $30.71.

Caesars Entertainment Price Performance

The company has a fifty day moving average of $29.80 and a 200-day moving average of $27.06. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70. The stock has a market cap of $6.04 billion, a PE ratio of -13.01 and a beta of 1.77.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, July 28th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.35). The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.39) earnings per share. Sell-side analysts expect that Caesars Entertainment, Inc. will post -0.9 EPS for the current fiscal year.

Insider Activity

In related news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of Caesars Entertainment stock in a transaction that occurred 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 completion of the transaction, the insider owned 18,263 shares in the company, valued at approximately $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 is accessible through this hyperlink. Also, Director Michael E. Pegram sold 16,897 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $29.46, for a total transaction of $497,785.62. The SEC filing for this sale provides additional information. Insiders have sold 293,463 shares of company stock worth $8,609,241 in the last three months. Corporate insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On Caesars Entertainment

Several institutional investors have recently modified their holdings of the business. Ruffer LLP acquired a new stake in Caesars Entertainment in the fourth quarter valued at approximately $2,820,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Caesars Entertainment by 246,899,900.0% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock worth $115,500,000 after acquiring an additional 4,937,998 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in Caesars Entertainment during the 4th quarter worth approximately $65,492,000. 1492 Capital Management LLC acquired a new position in Caesars Entertainment during the 1st quarter worth approximately $1,020,000. Finally, Janus Henderson Group PLC increased its position in shares of Caesars Entertainment by 5.8% in the 1st quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company’s stock valued at $172,582,000 after purchasing an additional 355,760 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

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.