Caesars Entertainment, Inc. (NASDAQ:CZR) Sees Large Decrease in Short Interest

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

Wall Street Analysts Forecast Growth

CZR has been the topic of several research reports. Truist Financial decreased their price target on shares of Caesars Entertainment from $52.00 to $48.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Wells Fargo & Company decreased their target price on Caesars Entertainment from $58.00 to $53.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. Stifel Nicolaus reduced their target price on shares of Caesars Entertainment from $54.00 to $51.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. Barclays decreased their price objective on Caesars Entertainment from $57.00 to $55.00 and set an "overweight" rating on the stock in a report on Friday, December 13th. Finally, Jefferies Financial Group cut their price objective on Caesars Entertainment from $52.00 to $43.00 and set a "buy" rating on the stock in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Caesars Entertainment currently has an average rating of "Moderate Buy" and a consensus price target of $51.21.

Hedge Funds Weigh In On Caesars Entertainment

Institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its stake 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 worth $526,309,000 after purchasing an additional 1,983,151 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of 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 worth $71,536,000 after purchasing an additional 1,697,443 shares during the period. Helikon Investments Ltd raised its position in Caesars Entertainment by 67.1% in the third quarter. Helikon Investments Ltd now owns 1,587,547 shares of the company's stock valued at $66,264,000 after purchasing an additional 637,303 shares during the period. Bamco Inc. NY acquired a new position in Caesars Entertainment in the third quarter worth about $61,890,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Caesars Entertainment by 4.2% during the third quarter. Principal Financial Group Inc. now owns 1,454,520 shares of the company's stock valued at $60,712,000 after buying an additional 59,170 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company's stock.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR traded up $0.17 during trading on Wednesday, reaching $36.30. The stock had a trading volume of 1,163,610 shares, compared to its average volume of 4,311,425. Caesars Entertainment has a 1-year low of $30.78 and a 1-year high of $45.93. The stock has a market cap of $7.71 billion, a PE ratio of -21.74 and a beta of 2.90. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. The business has a fifty day moving average price of $34.88 and a 200-day moving average price of $37.74.

Caesars Entertainment Company Profile

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.