Short Interest in Caesars Entertainment, Inc. (NASDAQ:CZR) Decreases By 21.4%

Caesars Entertainment, Inc. (NASDAQ:CZR) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totaling 28,910,605 shares, a decrease of 21.4% from the November 30th total of 36,763,766 shares. Based on an average daily volume of 6,789,916 shares, the days-to-cover ratio is presently 4.3 days. Approximately 14.3% of the shares of the company are short sold. Approximately 14.3% of the shares of the company are short sold. Based on an average daily volume of 6,789,916 shares, the days-to-cover ratio is presently 4.3 days.

Analysts Set New Price Targets

Several research firms have recently commented on CZR. JPMorgan Chase & Co. lowered their price objective on shares of Caesars Entertainment from $43.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Zacks Research upgraded Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Caesars Entertainment in a research note on Wednesday, October 8th. Citigroup reiterated a “market outperform” rating on shares of Caesars Entertainment in a research report on Monday, December 1st. Finally, Citizens Jmp reduced their price target on shares of Caesars Entertainment from $40.00 to $37.00 and set a “market outperform” rating for the company in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Caesars Entertainment currently has an average rating of “Moderate Buy” and an average price target of $35.33.

Caesars Entertainment Trading Down 3.0%

Shares of NASDAQ:CZR opened at $24.04 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.76 and a debt-to-equity ratio of 6.23. Caesars Entertainment has a 12-month low of $18.25 and a 12-month high of $40.00. The business has a 50 day moving average of $22.15 and a two-hundred day moving average of $25.09. The company has a market capitalization of $4.91 billion, a PE ratio of -20.90 and a beta of 2.04.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, October 28th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.16). Caesars Entertainment had a negative net margin of 2.12% and a negative return on equity of 5.76%. The firm had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same period last year, the firm earned ($0.04) earnings per share. Caesars Entertainment’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, analysts forecast that Caesars Entertainment will post -0.77 EPS for the current year.

Hedge Funds Weigh In On Caesars Entertainment

A number of large investors have recently bought and sold shares of the business. Vontobel Holding Ltd. grew its holdings in Caesars Entertainment by 2.3% in the second quarter. Vontobel Holding Ltd. now owns 15,795 shares of the company’s stock valued at $448,000 after purchasing an additional 356 shares during the period. UMB Bank n.a. lifted its position in shares of Caesars Entertainment by 52.0% during the 2nd quarter. UMB Bank n.a. now owns 1,049 shares of the company’s stock valued at $30,000 after buying an additional 359 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Caesars Entertainment by 1.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 25,652 shares of the company’s stock valued at $728,000 after acquiring an additional 476 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Caesars Entertainment by 69.7% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,164 shares of the company’s stock worth $33,000 after acquiring an additional 478 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in shares of Caesars Entertainment by 110.6% in the third quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock valued at $26,000 after purchasing an additional 510 shares during the period. 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.