Short Interest in Caesars Entertainment, Inc. (NASDAQ:CZR) Increases By 35.6%

Caesars Entertainment, Inc. (NASDAQ:CZR) was the recipient of a significant growth in short interest during 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 company’s shares are short sold. Based on an average daily volume of 5,150,000 shares, the short-interest ratio is presently 4.6 days.

Caesars Entertainment Stock Down 2.6 %

NASDAQ:CZR opened at $25.00 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. The stock has a 50 day moving average of $32.61 and a 200-day moving average of $36.52. The firm has a market capitalization of $5.30 billion, a PE ratio of -14.97 and a beta of 2.97. Caesars Entertainment has a 52 week low of $24.01 and a 52 week high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly 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. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.81 billion. Analysts predict that Caesars Entertainment will post -0.77 EPS for the current year.

Institutional Trading of Caesars Entertainment

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CZR shares. Jefferies Financial Group dropped their price objective on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Truist Financial dropped their target price on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Wells Fargo & Company lowered their price objective on shares of Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. JMP Securities reduced their target price on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 16th. Finally, Susquehanna raised shares of Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 price target for the company in a report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

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.