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

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

Analyst Ratings Changes

CZR has been the topic of a number of recent research reports. 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 report on Friday, January 3rd. Stifel Nicolaus upped their target price on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley raised their price target on Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company dropped their price objective on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, JMP Securities decreased their target price on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating for the company in a research note on Thursday. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.86.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR traded up $0.73 during midday trading on Friday, hitting $34.05. The stock had a trading volume of 6,970,959 shares, compared to its average volume of 3,842,788. The company’s 50-day moving average price is $35.65 and its 200-day moving average price is $37.99. Caesars Entertainment has a fifty-two week low of $30.78 and a fifty-two week high of $47.99. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The company has a market capitalization of $7.23 billion, a P/E ratio of -20.39 and a beta of 2.90.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.25). The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 EPS. As a group, equities research analysts predict that Caesars Entertainment will post -0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

Several hedge funds have recently modified their holdings of CZR. Huntington National Bank lifted its holdings in shares of Caesars Entertainment by 3,203.8% during the third quarter. Huntington National Bank now owns 859 shares of the company’s stock worth $36,000 after purchasing an additional 833 shares during the period. UMB Bank n.a. bought a new stake in Caesars Entertainment in the third quarter valued at approximately $51,000. Quarry LP acquired a new stake in Caesars Entertainment during the 3rd quarter valued at approximately $68,000. Avior Wealth Management LLC raised its holdings in Caesars Entertainment by 12,577.8% during the 4th quarter. Avior Wealth Management LLC now owns 2,282 shares of the company’s stock worth $76,000 after purchasing an additional 2,264 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Caesars Entertainment by 25.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock worth $84,000 after purchasing an additional 403 shares during the period. Institutional investors and hedge funds 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.