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

Caesars Entertainment, Inc. (NASDAQ:CZR) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totalling 15,230,000 shares, a decrease of 10.0% from the September 15th total of 16,930,000 shares. Based on an average daily trading volume, of 5,070,000 shares, the days-to-cover ratio is currently 3.0 days.

Institutional Trading of Caesars Entertainment

A number of large investors have recently added to or reduced their stakes in CZR. Vanguard Group Inc. increased its stake in shares of Caesars Entertainment by 0.3% in the first 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 in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in Caesars Entertainment by 270.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 28,332 shares of the company’s stock valued at $1,239,000 after buying an additional 20,692 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in Caesars Entertainment by 201.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 60,593 shares of the company’s stock valued at $2,650,000 after acquiring an additional 40,517 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Caesars Entertainment by 249.0% during the first quarter. Russell Investments Group Ltd. now owns 186,019 shares of the company’s stock worth $8,131,000 after acquiring an additional 132,720 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Caesars Entertainment by 263.2% in the first quarter. Sei Investments Co. now owns 345,481 shares of the company’s stock worth $15,111,000 after acquiring an additional 250,354 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CZR. Wells Fargo & Company raised their target price on Caesars Entertainment from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday. Jefferies Financial Group decreased their price objective on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Morgan Stanley cut their target price on Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. StockNews.com cut Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Barclays increased their target price on shares of Caesars Entertainment from $56.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.38.

Caesars Entertainment Stock Up 2.0 %

CZR traded up $0.91 during mid-day trading on Thursday, reaching $45.55. 2,459,229 shares of the stock were exchanged, compared to its average volume of 4,188,243. Caesars Entertainment has a 1 year low of $31.74 and a 1 year high of $50.51. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.68 and a current ratio of 0.70. The stock has a market capitalization of $9.86 billion, a PE ratio of 12.90 and a beta of 2.97. The company has a 50 day moving average price of $39.58 and a two-hundred day moving average price of $38.10.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, July 30th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.68). The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.87 billion. Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. Caesars Entertainment’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 EPS. As a group, research analysts anticipate that Caesars Entertainment will post -0.16 EPS for the current year.

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.