Caesars Entertainment, Inc. (NASDAQ:CZR) Short Interest Up 5.5% in November

Caesars Entertainment, Inc. (NASDAQ:CZR) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 15,370,000 shares, an increase of 5.5% from the October 31st total of 14,570,000 shares. Based on an average daily trading volume, of 4,080,000 shares, the days-to-cover ratio is currently 3.8 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its holdings in Caesars Entertainment by 18.7% during the third 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 during the period. Bamco Inc. NY acquired a new position in shares of Caesars Entertainment in the 3rd quarter worth approximately $61,890,000. SG Americas Securities LLC raised its holdings 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 purchasing an additional 1,418,318 shares in the last quarter. Helikon Investments Ltd acquired a new stake in Caesars Entertainment during the second quarter valued at approximately $37,763,000. Finally, Progeny 3 Inc. acquired a new position in Caesars Entertainment in the third quarter worth approximately $37,649,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped their target price on Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company dropped their price objective on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of Caesars Entertainment from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Stifel Nicolaus raised their price target 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, StockNews.com upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.86.

Caesars Entertainment Trading Up 0.1 %

Caesars Entertainment stock opened at $38.20 on Wednesday. Caesars Entertainment has a 52-week low of $31.74 and a 52-week high of $50.51. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of -22.86 and a beta of 2.89. The firm has a 50-day moving average price of $41.33 and a two-hundred day moving average price of $38.47.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate 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 business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. The firm’s revenue was down 4.0% compared to the same quarter last year. Sell-side analysts expect that Caesars Entertainment will post -0.56 earnings per share for the current year.

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.