Caesars Entertainment, Inc. (NASDAQ:CZR) Short Interest Down 10.0% in September

Caesars Entertainment, Inc. (NASDAQ:CZR) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totalling 15,230,000 shares, a decline of 10.0% from the September 15th total of 16,930,000 shares. Based on an average trading volume of 5,070,000 shares, the days-to-cover ratio is presently 3.0 days.

Wall Street Analyst Weigh In

Several analysts have commented on CZR shares. JMP Securities reiterated a “market outperform” rating and set a $59.00 target price on shares of Caesars Entertainment in a research note on Monday. Susquehanna reissued a “negative” rating and issued a $33.00 target price on shares of Caesars Entertainment in a research report on Wednesday, July 31st. StockNews.com downgraded shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Jefferies Financial Group decreased their price objective on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Stifel Nicolaus raised their target price on shares of Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.38.

Caesars Entertainment Stock Performance

CZR traded up $0.91 during midday trading on Thursday, reaching $45.55. The company had a trading volume of 2,459,229 shares, compared to its average volume of 4,188,243. The business has a 50-day moving average of $39.58 and a two-hundred day moving average of $38.10. The company has a quick ratio of 0.68, a current ratio of 0.70 and a debt-to-equity ratio of 5.56. Caesars Entertainment has a 1 year low of $31.74 and a 1 year high of $50.51. The company has a market cap of $9.86 billion, a P/E ratio of 12.90 and a beta of 2.97.

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 the consensus estimate of $0.12 by ($0.68). Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the prior year, the company posted $0.82 earnings per share. The company’s revenue was down 1.7% compared to the same quarter last year. As a group, equities research analysts predict that Caesars Entertainment will post -0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC lifted its holdings in Caesars Entertainment by 27.6% in the 4th quarter. V Square Quantitative Management LLC now owns 4,498 shares of the company’s stock worth $211,000 after purchasing an additional 974 shares in the last quarter. American International Group Inc. grew its stake in Caesars Entertainment by 1.9% during the fourth quarter. American International Group Inc. now owns 58,711 shares of the company’s stock valued at $2,752,000 after acquiring an additional 1,072 shares in the last quarter. Wellington Management Group LLP increased its holdings in Caesars Entertainment by 38.5% in the 4th quarter. Wellington Management Group LLP now owns 30,276 shares of the company’s stock valued at $1,419,000 after acquiring an additional 8,410 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Caesars Entertainment by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 23,559,890 shares of the company’s stock valued at $1,104,488,000 after purchasing an additional 148,034 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Caesars Entertainment by 3.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 15,531 shares of the company’s stock valued at $728,000 after purchasing an additional 580 shares in the last quarter. 91.79% of the stock is owned by institutional investors.

About Caesars Entertainment

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.