Caesars Entertainment, Inc. (NASDAQ:CZR) Short Interest Down 14.0% in July

Caesars Entertainment, Inc. (NASDAQ:CZR) was the target of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 16,470,000 shares, a decrease of 14.0% from the July 15th total of 19,150,000 shares. Based on an average daily volume of 5,120,000 shares, the short-interest ratio is presently 3.2 days.

Analyst Ratings Changes

A number of research analysts have recently commented on CZR shares. Stifel Nicolaus upped their price target on shares of Caesars Entertainment from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. B. Riley started coverage on shares of Caesars Entertainment in a research note on Thursday, May 9th. They issued a “buy” rating and a $70.00 target price on the stock. Morgan Stanley decreased their price target on shares of Caesars Entertainment from $43.00 to $41.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. StockNews.com lowered Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company raised their price objective on Caesars Entertainment from $53.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.14.

Caesars Entertainment Stock Performance

CZR stock traded down $0.18 during midday trading on Monday, reaching $36.80. The stock had a trading volume of 2,717,833 shares, compared to its average volume of 4,136,504. The firm has a fifty day simple moving average of $37.06 and a two-hundred day simple moving average of $38.71. Caesars Entertainment has a 52-week low of $31.74 and a 52-week high of $56.29. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.67 and a current ratio of 0.70. The stock has a market cap of $7.96 billion, a PE ratio of 10.42 and a beta of 2.99.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The business had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the prior year, the business posted $0.82 earnings per share. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Caesars Entertainment will post 0.12 EPS for the current year.

Insider Buying and Selling at Caesars Entertainment

In related news, Director Frank J. Fahrenkopf, Jr. sold 10,000 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $32.52, for a total transaction of $325,200.00. Following the sale, the director now owns 350 shares in the company, valued at approximately $11,382. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Caesars Entertainment

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Caesars Entertainment by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock worth $1,033,829,000 after purchasing an additional 75,898 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in Caesars Entertainment by 270.8% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 28,332 shares of the company’s stock worth $1,239,000 after acquiring an additional 20,692 shares during the period. Choreo LLC lifted its holdings in Caesars Entertainment by 39.1% during the fourth quarter. Choreo LLC now owns 17,678 shares of the company’s stock valued at $829,000 after purchasing an additional 4,970 shares in the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of Caesars Entertainment by 881.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 25,506 shares of the company’s stock valued at $1,196,000 after purchasing an additional 22,906 shares during the period. Finally, TD Asset Management Inc increased its stake in shares of Caesars Entertainment by 84.8% during the fourth quarter. TD Asset Management Inc now owns 489,577 shares of the company’s stock worth $22,951,000 after purchasing an additional 224,629 shares in 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.