Caesars Entertainment, Inc. (NASDAQ:CZR) Short Interest Down 23.2% in March

Caesars Entertainment, Inc. (NASDAQ:CZR) saw a significant decline in short interest in 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. Based on an average trading volume of 5,143,605 shares, the days-to-cover ratio is currently 4.0 days. Approximately 10.3% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of brokerages have issued reports on CZR. JPMorgan Chase & Co. decreased their price target on Caesars Entertainment from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday. Susquehanna upgraded Caesars Entertainment from a “neutral” rating to a “positive” rating and raised their target price for the company from $25.00 to $31.00 in a research report on Thursday, January 8th. Wells Fargo & Company raised their target price on Caesars Entertainment from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday. Stifel Nicolaus dropped their target price on Caesars Entertainment from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Finally, Truist Financial dropped their target price on Caesars Entertainment from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Caesars Entertainment has a consensus rating of “Hold” and a consensus target price of $32.73.

Caesars Entertainment Price Performance

NASDAQ CZR traded up $0.39 during mid-day trading on Thursday, hitting $27.68. The stock had a trading volume of 2,999,842 shares, compared to its average volume of 5,888,865. The firm’s 50 day moving average is $24.63 and its 200 day moving average is $23.43. Caesars Entertainment has a twelve month low of $17.86 and a twelve month high of $31.58. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.80 and a quick ratio of 0.78. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of -11.39 and a beta of 1.87.

Caesars Entertainment (NASDAQ:CZR) last posted 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 firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.89 billion. Caesars Entertainment had a negative net margin of 4.37% and a negative return on equity of 7.97%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.05 earnings per share. Equities research analysts forecast that Caesars Entertainment will post -0.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Caesars Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Caesars Entertainment by 246,899,900.0% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock valued at $115,500,000 after buying an additional 4,937,998 shares in the last quarter. Morgan Stanley grew its stake in shares of Caesars Entertainment by 121.0% in the fourth quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock valued at $167,049,000 after buying an additional 3,910,430 shares in the last quarter. Capital World Investors grew its stake in shares of Caesars Entertainment by 29.8% in the third quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock valued at $437,622,000 after buying an additional 3,716,148 shares in the last quarter. Norges Bank acquired a new stake in shares of Caesars Entertainment in the fourth quarter valued at $76,050,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Caesars Entertainment in the fourth quarter valued at $65,492,000. 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.