Caesars Entertainment, Inc. (NASDAQ:CZR) Sees Significant Drop in Short Interest

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

Analysts Set New Price Targets

CZR has been the topic of a number of research analyst reports. StockNews.com raised Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Truist Financial dropped their price target on shares of Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Wells Fargo & Company decreased their price objective on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Barclays cut their target price on Caesars Entertainment from $57.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. dropped their price objective on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, two have issued 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, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $51.86.

Caesars Entertainment Stock Performance

Shares of NASDAQ CZR traded up $0.73 during trading on Friday, reaching $34.05. The company had a trading volume of 6,970,959 shares, compared to its average volume of 3,842,788. The company’s fifty day moving average price is $35.65 and its 200-day moving average price is $37.99. Caesars Entertainment has a 12 month low of $30.78 and a 12 month high of $47.99. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share 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 the consensus estimate of $2.93 billion. During the same period in the previous year, the business posted $0.34 EPS. Caesars Entertainment’s revenue was down 4.0% compared to the same quarter last year. As a group, sell-side analysts predict that Caesars Entertainment will post -0.57 earnings per share for the current year.

Institutional Investors Weigh In On Caesars Entertainment

Hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank boosted its position in Caesars Entertainment by 3,203.8% during the 3rd quarter. Huntington National Bank now owns 859 shares of the company’s stock valued at $36,000 after acquiring an additional 833 shares in the last quarter. UMB Bank n.a. purchased a new stake in Caesars Entertainment during the 3rd quarter valued at $51,000. Quarry LP purchased a new position in Caesars Entertainment in the 3rd quarter worth about $68,000. GAMMA Investing LLC lifted its position in Caesars Entertainment by 25.1% during the third quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock valued at $84,000 after purchasing an additional 403 shares during the period. Finally, Avior Wealth Management LLC boosted its stake in shares of Caesars Entertainment by 12,577.8% in the 4th quarter. Avior Wealth Management LLC now owns 2,282 shares of the company’s stock worth $76,000 after buying an additional 2,264 shares during the last quarter. Institutional investors own 91.79% of the company’s stock.

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.