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

Caesars Entertainment, Inc. (NASDAQ:CZR) was the target of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 15,370,000 shares, a growth of 5.5% from the October 31st total of 14,570,000 shares. Based on an average trading volume of 4,080,000 shares, the days-to-cover ratio is presently 3.8 days.

Wall Street Analysts Forecast Growth

CZR has been the subject of several recent research reports. Barclays cut their price target on Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Wells Fargo & Company decreased their target price on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on shares of Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. StockNews.com raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Macquarie restated an “outperform” rating and set a $50.00 target price on shares of Caesars Entertainment in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.86.

Caesars Entertainment Price Performance

Caesars Entertainment stock traded down $0.97 during midday trading on Tuesday, reaching $38.04. 3,845,806 shares of the stock traded hands, compared to its average volume of 4,112,324. 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 12 month low of $31.74 and a 12 month high of $50.51. The stock’s fifty day moving average is $41.38 and its 200-day moving average is $38.45. The stock has a market cap of $8.08 billion, a P/E ratio of -23.36 and a beta of 2.89.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $2.93 billion. During the same period last year, the business posted $0.34 earnings per share. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Caesars Entertainment will post -0.56 EPS for the current year.

Institutional Trading of Caesars Entertainment

Large investors have recently made changes to their positions in the business. Comerica Bank lifted its position in Caesars Entertainment by 345.0% in the first quarter. Comerica Bank now owns 107,355 shares of the company’s stock worth $4,696,000 after buying an additional 83,231 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Caesars Entertainment by 26.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 27,420 shares of the company’s stock worth $1,173,000 after purchasing an additional 5,715 shares during the period. GAMMA Investing LLC grew its holdings in Caesars Entertainment by 63.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $64,000 after purchasing an additional 622 shares during the last quarter. DNB Asset Management AS lifted its stake in Caesars Entertainment by 12.5% in the second quarter. DNB Asset Management AS now owns 33,877 shares of the company’s stock worth $1,346,000 after purchasing an additional 3,753 shares during the last quarter. Finally, Mather Group LLC. grew its stake in shares of Caesars Entertainment by 1,556.4% during the second quarter. Mather Group LLC. now owns 18,784 shares of the company’s stock valued at $822,000 after buying an additional 17,650 shares during the last quarter. 91.79% of the stock is currently owned by institutional investors.

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.