Short Interest in Caesars Entertainment, Inc. (NASDAQ:CZR) Declines By 12.2%

Caesars Entertainment, Inc. (NASDAQ:CZR) saw a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 30,537,844 shares, a drop of 12.2% from the February 12th total of 34,780,191 shares. Currently, 15.2% of the shares of the company are sold short. Based on an average trading volume of 9,073,860 shares, the short-interest ratio is currently 3.4 days. Based on an average trading volume of 9,073,860 shares, the short-interest ratio is currently 3.4 days. Currently, 15.2% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CZR shares. JPMorgan Chase & Co. cut their price objective on Caesars Entertainment from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Citizens Jmp decreased their target price on Caesars Entertainment from $37.00 to $34.00 and set a “market outperform” rating for the company in a report on Wednesday, February 18th. Susquehanna upgraded Caesars Entertainment from a “neutral” rating to a “positive” rating and upped their target price for the company from $25.00 to $31.00 in a research report on Thursday, January 8th. Truist Financial cut their price target on shares of Caesars Entertainment from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Finally, Morgan Stanley lifted their price objective on shares of Caesars Entertainment from $25.00 to $32.00 and gave the company an “equal weight” rating in a research note on Thursday, March 12th. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $32.69.

Caesars Entertainment Stock Up 0.4%

Shares of CZR stock opened at $27.43 on Thursday. Caesars Entertainment has a twelve month low of $17.86 and a twelve month high of $31.58. The stock has a market cap of $5.58 billion, a P/E ratio of -11.29 and a beta of 1.94. The stock has a 50 day moving average of $23.21 and a 200 day moving average of $23.34. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 3.17.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, February 17th. The company reported ($1.23) EPS for the quarter, missing the consensus estimate of ($0.18) by ($1.05). The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Caesars Entertainment had a negative return on equity of 7.97% and a negative net margin of 4.37%.The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 EPS. As a group, sell-side analysts expect that Caesars Entertainment will post -0.77 EPS for the current year.

Institutional Trading of Caesars Entertainment

Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its holdings in Caesars Entertainment by 47.7% in the first quarter. AQR Capital Management LLC now owns 39,297 shares of the company’s stock valued at $953,000 after buying an additional 12,698 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Caesars Entertainment by 8.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,830 shares of the company’s stock worth $496,000 after acquiring an additional 1,623 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Caesars Entertainment by 106.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company’s stock worth $39,982,000 after acquiring an additional 826,356 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Caesars Entertainment by 40.7% during the 1st quarter. Woodline Partners LP now owns 17,952 shares of the company’s stock worth $449,000 after acquiring an additional 5,192 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Caesars Entertainment by 0.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company’s stock valued at $12,665,000 after acquiring an additional 3,198 shares during the period. 91.79% of the stock is owned by hedge funds and other institutional investors.

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.