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

Caesars Entertainment, Inc. (NASDAQ:CZR) saw a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 23,890,000 shares, a growth of 35.6% from the February 28th total of 17,620,000 shares. Based on an average trading volume of 5,150,000 shares, the days-to-cover ratio is currently 4.6 days. Approximately 11.3% of the company’s stock are sold short.

Institutional Investors Weigh In On Caesars Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bogart Wealth LLC grew its stake in shares of Caesars Entertainment by 1,777.8% in the 4th quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock valued at $28,000 after buying an additional 800 shares in the last quarter. FIL Ltd bought a new stake in Caesars Entertainment during the fourth quarter valued at about $28,000. Resona Asset Management Co. Ltd. acquired a new position in Caesars Entertainment in the 4th quarter valued at approximately $44,000. Canada Pension Plan Investment Board grew its holdings in shares of Caesars Entertainment by 100.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company’s stock worth $53,000 after purchasing an additional 800 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Caesars Entertainment in the third quarter valued at $68,000. 91.79% of the stock is currently owned by institutional investors.

Caesars Entertainment Stock Down 2.7 %

NASDAQ:CZR traded down $0.70 during mid-day trading on Monday, reaching $24.97. The stock had a trading volume of 3,509,435 shares, compared to its average volume of 4,598,064. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of -14.95 and a beta of 2.97. Caesars Entertainment has a 1-year low of $24.03 and a 1-year high of $45.93. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The stock’s 50 day simple moving average is $32.79 and its two-hundred day simple moving average is $36.60.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.20. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. Equities analysts anticipate that Caesars Entertainment will post -0.77 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CZR. Susquehanna raised Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 price objective on the stock in a report on Thursday, March 6th. Raymond James dropped their price target on Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating for the company in a research report on Wednesday, March 19th. JPMorgan Chase & Co. lowered their price objective on shares of Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Macquarie reduced their target price on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, Truist Financial cut their price target on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Caesars Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

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.