Short Interest in Caesars Entertainment, Inc. (NASDAQ:CZR) Decreases By 6.4%

Caesars Entertainment, Inc. (NASDAQ:CZR) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 14,980,000 shares, a decrease 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 presently 3.8 days.

Wall Street Analyst Weigh In

CZR has been the topic of several recent research reports. Stifel Nicolaus upped their price objective 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. Wells Fargo & Company lowered their price target 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. Morgan Stanley increased their price target on shares of Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Jefferies Financial Group lowered their price target 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. Finally, StockNews.com raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.86.

Institutional Trading of Caesars Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CZR. Huntington National Bank lifted its stake in Caesars Entertainment by 3,203.8% in the third quarter. Huntington National Bank now owns 859 shares of the company’s stock worth $36,000 after acquiring an additional 833 shares during the period. UMB Bank n.a. purchased a new stake in Caesars Entertainment in the third quarter worth $51,000. Quarry LP purchased a new stake in Caesars Entertainment in the third quarter worth $68,000. Avior Wealth Management LLC lifted its stake in Caesars Entertainment by 12,577.8% in the fourth quarter. Avior Wealth Management LLC now owns 2,282 shares of the company’s stock worth $76,000 after acquiring an additional 2,264 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Caesars Entertainment by 25.1% in the third quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock worth $84,000 after acquiring an additional 403 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Trading Up 2.2 %

Shares of Caesars Entertainment stock traded up $0.73 on Monday, hitting $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 quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. Caesars Entertainment has a one year low of $30.78 and a one year high of $47.99. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of -20.39 and a beta of 2.90. The stock’s 50-day simple moving average is $35.65 and its two-hundred day simple moving average is $37.99.

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