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

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

Wall Street Analyst Weigh In

CZR has been the subject of several research analyst reports. JMP Securities lowered their price objective on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating for the company in a research report on Thursday, January 16th. Jefferies Financial Group lowered their price target on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Raymond James reduced their price objective on Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, March 19th. Wells Fargo & Company lowered their target price on Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Susquehanna upgraded shares of Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 price target on the stock in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Caesars Entertainment has an average rating of “Moderate Buy” and an average price target of $50.00.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR opened at $24.83 on Wednesday. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. Caesars Entertainment has a 52 week low of $24.01 and a 52 week high of $45.93. The firm has a market cap of $5.26 billion, a PE ratio of -14.87 and a beta of 2.97. The firm’s fifty day moving average is $32.42 and its 200-day moving average is $36.42.

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

Institutional Trading of Caesars Entertainment

Several institutional investors have recently added to or reduced their stakes in CZR. Vanguard Group Inc. boosted its stake in shares of Caesars Entertainment by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 23,364,859 shares of the company’s stock valued at $780,854,000 after purchasing an additional 100,263 shares during the last quarter. Capital Research Global Investors boosted its position in Caesars Entertainment by 14.8% during the fourth quarter. Capital Research Global Investors now owns 19,811,919 shares of the company’s stock valued at $662,088,000 after acquiring an additional 2,555,876 shares during the last quarter. Cohen & Steers Inc. grew its holdings in Caesars Entertainment by 14.8% during the 4th quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company’s stock worth $487,265,000 after acquiring an additional 1,882,728 shares during the period. Janus Henderson Group PLC raised its position in shares of Caesars Entertainment by 18.7% in the 3rd 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 in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Caesars Entertainment by 28.0% in the 4th quarter. Invesco Ltd. now owns 5,553,375 shares of the company’s stock valued at $185,594,000 after purchasing an additional 1,213,426 shares during the period. 91.79% of the stock is currently owned by institutional investors.

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.