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

Caesars Entertainment, Inc. (NASDAQ:CZR) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 16,470,000 shares, a drop of 14.0% from the July 15th total of 19,150,000 shares. Based on an average daily volume of 5,120,000 shares, the days-to-cover ratio is currently 3.2 days.

Caesars Entertainment Stock Performance

CZR traded down $0.18 during trading on Monday, hitting $36.80. 2,715,530 shares of the stock were exchanged, compared to its average volume of 4,136,504. The firm has a market capitalization of $7.96 billion, a P/E ratio of 10.42 and a beta of 2.99. Caesars Entertainment has a 1-year low of $31.74 and a 1-year high of $56.29. The stock has a fifty day moving average price of $37.06 and a two-hundred day moving average price of $38.71. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 5.56.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, July 30th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.87 billion. Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 EPS. As a group, sell-side analysts predict that Caesars Entertainment will post 0.12 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Frank J. Fahrenkopf, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $32.52, for a total transaction of $325,200.00. Following the completion of the transaction, the director now directly owns 350 shares in the company, valued at approximately $11,382. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CZR. Blue Trust Inc. grew its holdings in Caesars Entertainment by 525.3% during the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock worth $26,000 after acquiring an additional 499 shares during the period. Altshuler Shaham Ltd acquired a new position in Caesars Entertainment during the fourth quarter worth $45,000. Principal Securities Inc. acquired a new position in Caesars Entertainment during the fourth quarter worth $46,000. Mather Group LLC. acquired a new position in Caesars Entertainment during the first quarter worth $53,000. Finally, TFO Wealth Partners LLC grew its holdings in Caesars Entertainment by 22,920.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock worth $54,000 after acquiring an additional 1,146 shares during the period. Institutional investors and hedge funds own 91.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CZR. B. Riley began coverage on Caesars Entertainment in a research note on Thursday, May 9th. They issued a “buy” rating and a $70.00 price objective for the company. Susquehanna reiterated a “negative” rating and issued a $33.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, July 31st. Truist Financial decreased their price objective on Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Jefferies Financial Group decreased their price objective on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, TD Cowen decreased their price objective on Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.14.

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.