Caesars Entertainment, Inc. (NASDAQ:CZR) Short Interest Update

Caesars Entertainment, Inc. (NASDAQ:CZR) was the target of a large decline in short interest in December. As of December 31st, there was short interest totalling 14,980,000 shares, a decline of 6.4% from the December 15th total of 16,000,000 shares. Based on an average daily volume of 3,930,000 shares, the days-to-cover ratio is currently 3.8 days.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Macquarie reiterated an “outperform” rating and issued a $50.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, October 30th. Jefferies Financial Group decreased their target price on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Wells Fargo & Company decreased their target price on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Stifel Nicolaus raised their target price on shares of Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley raised their target price on shares of Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.86.

Caesars Entertainment Trading Up 2.2 %

Shares of NASDAQ CZR traded up $0.73 during midday trading on Monday, reaching $34.05. The stock had a trading volume of 6,970,959 shares, compared to its average volume of 3,842,788. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. Caesars Entertainment has a twelve month low of $30.78 and a twelve month high of $47.99. The company’s 50 day moving average price is $35.65 and its 200 day moving average price is $37.99. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of -20.39 and a beta of 2.90.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. The firm’s revenue was down 4.0% on a year-over-year basis. As a group, sell-side analysts expect that Caesars Entertainment will post -0.57 EPS for the current year.

Institutional Trading of Caesars Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of CZR. Janus Henderson Group PLC grew its stake in shares of Caesars Entertainment by 18.7% in the 3rd quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock worth $526,309,000 after acquiring an additional 1,983,151 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Caesars Entertainment by 383.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,140,517 shares of the company’s stock worth $71,536,000 after acquiring an additional 1,697,443 shares in the last quarter. Bamco Inc. NY bought a new stake in shares of Caesars Entertainment in the 3rd quarter worth $61,890,000. SG Americas Securities LLC grew its stake in shares of Caesars Entertainment by 6,568.4% in the 3rd quarter. SG Americas Securities LLC now owns 1,439,911 shares of the company’s stock worth $60,102,000 after acquiring an additional 1,418,318 shares in the last quarter. Finally, Progeny 3 Inc. bought a new stake in shares of Caesars Entertainment in the 3rd quarter worth $37,649,000. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Company Profile

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.