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

Caesars Entertainment, Inc. (NASDAQ:CZR) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totaling 20,653,583 shares, a decline of 23.2% from the March 15th total of 26,892,014 shares. Currently, 10.3% of the company’s shares are sold short. Based on an average trading volume of 5,143,605 shares, the days-to-cover ratio is presently 4.0 days.

Caesars Entertainment Price Performance

CZR stock traded up $0.30 during midday trading on Friday, reaching $27.98. 281,239 shares of the company’s stock traded hands, compared to its average volume of 5,809,948. The company has a 50-day simple moving average of $24.78 and a two-hundred day simple moving average of $23.46. Caesars Entertainment has a 1-year low of $17.86 and a 1-year high of $31.58. The company has a market cap of $5.69 billion, a price-to-earnings ratio of -11.52 and a beta of 1.87. 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 earnings results on Tuesday, February 17th. The company reported ($1.23) 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 firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the business posted $0.05 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. On average, analysts anticipate that Caesars Entertainment will post -0.77 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised their price target on Caesars Entertainment from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft reduced their price target on Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Morgan Stanley lifted their price objective on Caesars Entertainment from $32.00 to $34.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. Susquehanna upgraded Caesars Entertainment from a “neutral” rating to a “positive” rating and boosted their price target for the company from $25.00 to $31.00 in a report on Thursday, January 8th. Finally, Citigroup boosted their target price on Caesars Entertainment from $23.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $32.73.

Hedge Funds Weigh In On Caesars Entertainment

Institutional investors have recently bought and sold shares of the business. Hantz Financial Services Inc. increased its position in Caesars Entertainment by 110.6% during the third quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock worth $26,000 after buying an additional 510 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Caesars Entertainment in the third quarter valued at approximately $28,000. Sunbelt Securities Inc. boosted its stake in shares of Caesars Entertainment by 181.6% in the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after buying an additional 672 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in Caesars Entertainment by 456.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock worth $26,000 after purchasing an additional 918 shares during the last quarter. Finally, Salomon & Ludwin LLC bought a new stake in Caesars Entertainment during the third quarter worth $41,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

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.