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

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

Caesars Entertainment Stock Down 4.7 %

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

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). Caesars Entertainment had a return on equity of 4.48% and a net margin of 6.82%. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the prior year, the company posted ($0.11) earnings per share. The business’s revenue was up .1% on a year-over-year basis. Analysts anticipate that Caesars Entertainment will post 1.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on CZR shares. Stifel Nicolaus cut their price target on shares of Caesars Entertainment from $70.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, January 18th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Truist Financial dropped their price objective on shares of Caesars Entertainment from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd. Barclays decreased their target price on shares of Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Finally, Wells Fargo & Company decreased their price objective on shares of Caesars Entertainment from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. Five equities 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 an average target price of $57.36.

Insider Buying and Selling at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram purchased 15,000 shares of Caesars Entertainment stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average price of $41.45 per share, for a total transaction of $621,750.00. Following the completion of the acquisition, the director now owns 4,612 shares of the company’s stock, valued at approximately $191,167.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CZR. Norges Bank purchased a new stake in Caesars Entertainment in the fourth quarter valued at $102,213,000. AQR Capital Management LLC raised its holdings in Caesars Entertainment by 938.7% during the third quarter. AQR Capital Management LLC now owns 1,043,044 shares of the company’s stock worth $48,345,000 after purchasing an additional 942,621 shares in the last quarter. Capital World Investors raised its holdings in Caesars Entertainment by 9.1% during the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after purchasing an additional 916,282 shares in the last quarter. Qube Research & Technologies Ltd grew its position in Caesars Entertainment by 481.7% during the third quarter. Qube Research & Technologies Ltd now owns 908,030 shares of the company’s stock worth $42,087,000 after buying an additional 751,938 shares during the period. Finally, Blackstone Inc. acquired a new position in Caesars Entertainment during the third quarter worth about $34,762,000. Hedge funds and other institutional investors 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.