Caesars Entertainment Co. (NASDAQ:CZR) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 23,060,183 shares, a growth of 12.9% from the February 15th total of 20,422,771 shares. Approximately 45.3% of the shares of the company are sold short. Based on an average daily volume of 5,115,426 shares, the days-to-cover ratio is currently 4.5 days.
NASDAQ CZR traded down $0.45 during trading on Monday, hitting $10.80. The stock had a trading volume of 14,812,841 shares, compared to its average volume of 9,335,696. The company has a market cap of $7,838.27, a P/E ratio of -3.20 and a beta of 0.31. The company has a debt-to-equity ratio of 5.55, a current ratio of 1.83 and a quick ratio of 1.81. Caesars Entertainment has a twelve month low of $9.20 and a twelve month high of $14.50.
Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Wednesday, March 7th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $2 billion. analysts anticipate that Caesars Entertainment will post 0.59 EPS for the current fiscal year.
In other news, EVP Timothy R. Donovan sold 5,354 shares of the firm’s stock in a transaction that occurred on Tuesday, March 20th. The shares were sold at an average price of $12.48, for a total transaction of $66,817.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.80% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Caesars Entertainment by 660.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,608 shares of the company’s stock worth $122,000 after buying an additional 8,344 shares in the last quarter. Loeb Partners Corp acquired a new position in Caesars Entertainment in the fourth quarter valued at approximately $126,000. Cerebellum GP LLC acquired a new position in Caesars Entertainment in the fourth quarter valued at approximately $127,000. Green Square Capital LLC acquired a new position in Caesars Entertainment in the fourth quarter valued at approximately $127,000. Finally, BB&T Corp acquired a new position in Caesars Entertainment in the fourth quarter valued at approximately $131,000. 95.66% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have weighed in on CZR shares. Zacks Investment Research lowered Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Monday, December 4th. BidaskClub lowered Caesars Entertainment from a “sell” rating to a “strong sell” rating in a report on Saturday, December 9th. Jefferies Group assumed coverage on Caesars Entertainment in a report on Thursday, January 18th. They set a “hold” rating and a $14.00 price target on the stock. SunTrust Banks reiterated an “average” rating and set a $16.00 price target on shares of Caesars Entertainment in a report on Monday, February 5th. Finally, Nomura upgraded Caesars Entertainment from a “neutral” rating to a “buy” rating in a report on Wednesday, March 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Caesars Entertainment has an average rating of “Hold” and a consensus price target of $14.65.
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About Caesars Entertainment
Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 36,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.
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