Caesars Entertainment, Inc. (NASDAQ:CZR) Sees Significant Increase in Short Interest

Caesars Entertainment, Inc. (NASDAQ:CZR) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 14,890,000 shares, an increase of 16.8% from the March 31st total of 12,750,000 shares. Based on an average daily trading volume, of 3,140,000 shares, the days-to-cover ratio is currently 4.7 days.

Caesars Entertainment Stock Down 4.7 %

CZR stock opened at $35.82 on Wednesday. The business’s 50-day moving average price is $41.16 and its 200-day moving average price is $43.29. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 2.59. Caesars Entertainment has a twelve month low of $35.76 and a twelve month high of $60.27. The stock has a market cap of $7.75 billion, a P/E ratio of 9.87 and a beta of 2.81.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.31). Caesars Entertainment had a return on equity of 4.48% and a net margin of 6.82%. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same period last year, the company earned ($0.11) earnings per share. The firm’s revenue was up .1% on a year-over-year basis. On average, equities research analysts forecast that Caesars Entertainment will post 1.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on CZR shares. Susquehanna reduced their price target on shares of Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Barclays cut their target price on shares of Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Truist Financial dropped their price target on Caesars Entertainment from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. JMP Securities lowered their price objective on Caesars Entertainment from $65.00 to $62.00 and set a “market outperform” rating for the company in a research report on Friday, April 19th. Finally, Stifel Nicolaus lowered their price objective on Caesars Entertainment from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, January 18th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Caesars Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $57.36.

Insider Activity at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram acquired 15,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were acquired at an average cost of $41.45 per share, with a total value of $621,750.00. Following the completion of the acquisition, the director now directly owns 4,612 shares in the company, valued at $191,167.40. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.64% of the stock is owned by company insiders.

Institutional Trading of Caesars Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CZR. Federated Hermes Inc. increased its position in shares of Caesars Entertainment by 26.4% during the third quarter. Federated Hermes Inc. now owns 44,384 shares of the company’s stock worth $2,057,000 after acquiring an additional 9,270 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Caesars Entertainment by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,052,738 shares of the company’s stock valued at $95,144,000 after acquiring an additional 77,595 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Caesars Entertainment during the 3rd quarter valued at approximately $2,259,000. Strs Ohio increased its stake in shares of Caesars Entertainment by 33.2% during the 4th quarter. Strs Ohio now owns 676,706 shares of the company’s stock worth $31,723,000 after purchasing an additional 168,738 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Caesars Entertainment by 1,029.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 255,925 shares of the company’s stock worth $11,998,000 after purchasing an additional 233,271 shares in the last quarter. Institutional investors and hedge funds 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.