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

Caesars Entertainment, Inc. (NASDAQ:CZR) was the target of a large growth in short interest in 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. Approximately 11.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,150,000 shares, the days-to-cover ratio is currently 4.6 days.

Caesars Entertainment Price Performance

Shares of CZR traded down $0.70 during trading hours on Monday, hitting $24.97. 3,509,435 shares of the company were exchanged, compared to its average volume of 4,598,064. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. Caesars Entertainment has a fifty-two week low of $24.03 and a fifty-two week high of $45.93. The company has a market cap of $5.29 billion, a price-to-earnings ratio of -14.95 and a beta of 2.97. The firm’s fifty day moving average is $32.79 and its 200 day moving average is $36.60.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on CZR. Susquehanna upgraded shares of Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 target price for the company in a research report on Thursday, March 6th. Wells Fargo & Company reduced their price target on shares of Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. JMP Securities decreased their price target on Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating on the stock in a report on Thursday, January 16th. TD Cowen cut their target price on shares of Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Finally, Barclays lowered their price target on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

Hedge Funds Weigh In On Caesars Entertainment

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

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.