Caesars Entertainment, Inc. (NASDAQ:CZR) Short Interest Down 6.4% in December

Caesars Entertainment, Inc. (NASDAQ:CZR) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 14,980,000 shares, a drop of 6.4% from the December 15th total of 16,000,000 shares. Based on an average daily volume of 3,930,000 shares, the short-interest ratio is currently 3.8 days.

Hedge Funds Weigh In On Caesars Entertainment

Institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its holdings in Caesars Entertainment by 18.7% during the 3rd quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock valued at $526,309,000 after acquiring an additional 1,983,151 shares during the period. EdgePoint Investment Group Inc. increased its stake in shares of Caesars Entertainment by 1.0% in the second quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company’s stock worth $232,847,000 after buying an additional 60,184 shares during the period. Assenagon Asset Management S.A. boosted its position in Caesars Entertainment by 383.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,140,517 shares of the company’s stock valued at $71,536,000 after buying an additional 1,697,443 shares during the period. Helikon Investments Ltd grew its holdings in Caesars Entertainment by 67.1% in the 3rd quarter. Helikon Investments Ltd now owns 1,587,547 shares of the company’s stock worth $66,264,000 after acquiring an additional 637,303 shares during the last quarter. Finally, Bamco Inc. NY purchased a new position in shares of Caesars Entertainment in the third quarter valued at about $61,890,000. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

Shares of Caesars Entertainment stock traded up $0.73 on Friday, reaching $34.05. The stock had a trading volume of 6,970,959 shares, compared to its average volume of 3,842,788. The business’s 50 day moving average is $35.65 and its two-hundred day moving average is $37.99. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. Caesars Entertainment has a 1 year low of $30.78 and a 1 year high of $47.99. The company has a market cap of $7.23 billion, a P/E ratio of -20.39 and a beta of 2.90.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the prior year, the company earned $0.34 earnings per share. Caesars Entertainment’s revenue was down 4.0% compared to the same quarter last year. As a group, research analysts anticipate that Caesars Entertainment will post -0.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CZR. Macquarie reiterated an “outperform” rating and set a $50.00 target price on shares of Caesars Entertainment in a research report on Wednesday, October 30th. JPMorgan Chase & Co. cut their price objective on shares of Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Truist Financial decreased their target price on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Stifel Nicolaus increased their price target on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley boosted their price objective on Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Caesars Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $51.86.

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.