Caesars Entertainment, Inc. (NASDAQ:CZR – Get Rating) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 11,270,000 shares, a decline of 11.3% from the August 31st total of 12,700,000 shares. Based on an average trading volume of 3,560,000 shares, the days-to-cover ratio is presently 3.2 days.
Analyst Upgrades and Downgrades
CZR has been the topic of a number of analyst reports. KeyCorp downgraded shares of Caesars Entertainment to a "sector weight" rating in a report on Tuesday, July 19th. B. Riley cut their price objective on shares of Caesars Entertainment from $149.00 to $128.00 and set a "buy" rating on the stock in a report on Tuesday, June 28th. Susquehanna Bancshares cut their price objective on shares of Caesars Entertainment from $32.00 to $27.00 and set a "negative" rating on the stock in a report on Monday. Barclays lifted their price objective on shares of Caesars Entertainment from $56.00 to $65.00 in a report on Wednesday, August 3rd. Finally, Truist Financial lowered their target price on Caesars Entertainment from $105.00 to $70.00 and set a "buy" rating on the stock in a research note on Wednesday, July 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Caesars Entertainment presently has a consensus rating of "Moderate Buy" and an average target price of $87.44.
Get Caesars Entertainment alerts:Caesars Entertainment Stock Performance
Caesars Entertainment stock traded up $1.09 during midday trading on Monday, reaching $33.35. The stock had a trading volume of 107,744 shares, compared to its average volume of 3,468,226. Caesars Entertainment has a 12 month low of $31.38 and a 12 month high of $119.59. The firm's 50-day moving average price is $44.49 and its 200 day moving average price is $51.72. The firm has a market capitalization of $7.15 billion, a PE ratio of -4.85 and a beta of 2.77. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 7.06.
Institutional Investors Weigh In On Caesars Entertainment
Several hedge funds and other institutional investors have recently modified their holdings of the stock. State of Michigan Retirement System increased its position in shares of Caesars Entertainment by 0.4% during the first quarter. State of Michigan Retirement System now owns 53,997 shares of the company's stock valued at $4,177,000 after buying an additional 197 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Caesars Entertainment by 1.0% during the first quarter. CIBC Asset Management Inc now owns 19,967 shares of the company's stock worth $1,545,000 after purchasing an additional 201 shares in the last quarter. Kestra Advisory Services LLC grew its holdings in shares of Caesars Entertainment by 7.6% during the first quarter. Kestra Advisory Services LLC now owns 2,899 shares of the company's stock worth $224,000 after purchasing an additional 205 shares in the last quarter. Centaurus Financial Inc. grew its holdings in shares of Caesars Entertainment by 19.3% during the first quarter. Centaurus Financial Inc. now owns 1,412 shares of the company's stock worth $109,000 after purchasing an additional 228 shares in the last quarter. Finally, Retirement Systems of Alabama grew its holdings in shares of Caesars Entertainment by 0.3% during the second quarter. Retirement Systems of Alabama now owns 71,065 shares of the company's stock worth $2,722,000 after purchasing an additional 236 shares in the last quarter. 95.55% of the stock is currently owned by institutional investors.Caesars Entertainment Company Profile
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Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company operates casinos comprising poker, keno, and race and online sportsbooks; dining venues, bars, nightclubs, and lounges; hotels; and entertainment venues. It also provides staffing and management services; accessories, souvenirs, and decorative items through retail stores; and online sports betting and iGaming services.
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