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

Caesars Entertainment, Inc. (NASDAQ:CZR) was the target of a large growth in short interest in 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 shares of the stock are sold short. Based on an average daily volume of 5,150,000 shares, the days-to-cover ratio is currently 4.6 days.

Institutional Investors Weigh In On Caesars Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP lifted its holdings in shares of Caesars Entertainment by 45.8% in the fourth quarter. Wellington Management Group LLP now owns 165,351 shares of the company’s stock valued at $5,526,000 after purchasing an additional 51,946 shares in the last quarter. American Assets Investment Management LLC acquired a new position in shares of Caesars Entertainment in the fourth quarter worth $318,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Caesars Entertainment in the fourth quarter valued at $14,599,000. American Trust increased its position in Caesars Entertainment by 8.7% during the 4th quarter. American Trust now owns 7,505 shares of the company’s stock worth $251,000 after purchasing an additional 601 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in Caesars Entertainment by 52.3% in the 4th quarter. Mackenzie Financial Corp now owns 10,959 shares of the company’s stock valued at $366,000 after purchasing an additional 3,764 shares during the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Down 2.6 %

CZR opened at $25.00 on Tuesday. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. Caesars Entertainment has a 12 month low of $24.01 and a 12 month high of $45.93. The stock has a market capitalization of $5.30 billion, a P/E ratio of -14.97 and a beta of 2.97. The business has a 50 day simple moving average of $32.61 and a 200-day simple moving average of $36.52.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.20. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. On average, equities analysts anticipate that Caesars Entertainment will post -0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CZR has been the topic of a number of recent research reports. Susquehanna raised Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 price objective on the stock in a research note on Thursday, March 6th. Stifel Nicolaus lowered their price objective on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Macquarie dropped their target price on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Jefferies Financial Group reduced their price objective on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Finally, TD Cowen lowered their target price on shares of Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.