Caesars Entertainment, Inc. (NASDAQ:CZR) Sees Large Decrease in Short Interest

Caesars Entertainment, Inc. (NASDAQ:CZR) was the target of a significant drop in short interest in February. As of February 27th, there was short interest totaling 30,537,844 shares, a drop of 12.2% from the February 12th total of 34,780,191 shares. Based on an average daily volume of 9,073,860 shares, the short-interest ratio is currently 3.4 days. Approximately 15.2% of the company’s stock are sold short. Approximately 15.2% of the company’s stock are sold short. Based on an average daily volume of 9,073,860 shares, the short-interest ratio is currently 3.4 days.

Wall Street Analyst Weigh In

CZR has been the topic of a number of analyst reports. Truist Financial dropped their price target on Caesars Entertainment from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Caesars Entertainment in a research note on Wednesday, January 21st. Barclays dropped their target price on Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Stifel Nicolaus reduced their price target on Caesars Entertainment from $39.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Finally, Morgan Stanley lifted their price target on Caesars Entertainment from $25.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.65.

Institutional Investors Weigh In On Caesars Entertainment

Several institutional investors have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Caesars Entertainment by 246,899,900.0% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock worth $115,500,000 after buying an additional 4,937,998 shares in the last quarter. Morgan Stanley lifted its stake in Caesars Entertainment by 121.0% during the 4th quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock valued at $167,049,000 after acquiring an additional 3,910,430 shares during the period. Capital World Investors lifted its stake in Caesars Entertainment by 29.8% during the 3rd quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock valued at $437,622,000 after acquiring an additional 3,716,148 shares during the period. Norges Bank purchased a new stake in shares of Caesars Entertainment during the 4th quarter valued at about $76,050,000. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Caesars Entertainment during the 4th quarter valued at about $65,492,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Price Performance

Shares of CZR opened at $27.16 on Tuesday. Caesars Entertainment has a twelve month low of $17.86 and a twelve month high of $31.58. The company has a market capitalization of $5.53 billion, a P/E ratio of -11.18 and a beta of 1.94. The firm has a 50 day moving average of $23.06 and a 200 day moving average of $23.31. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 3.17.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, February 17th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($1.05). Caesars Entertainment had a negative net margin of 4.37% and a negative return on equity of 7.97%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the company posted $0.05 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Caesars Entertainment will post -0.77 earnings per share for the current fiscal year.

About Caesars Entertainment

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.