Caesars Entertainment, Inc. (NASDAQ:CZR – Get Rating) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 13,050,000 shares, a growth of 11.6% from the July 15th total of 11,690,000 shares. Based on an average daily volume of 4,120,000 shares, the days-to-cover ratio is currently 3.2 days.
Analysts Set New Price Targets
CZR has been the subject of a number of recent research reports. Barclays boosted their target price on shares of Caesars Entertainment from $56.00 to $65.00 in a report on Wednesday, August 3rd. Bank of America reduced their target price on shares of Caesars Entertainment from $110.00 to $95.00 and set a “buy” rating for the company in a report on Monday, April 18th. B. Riley reduced their target price on shares of Caesars Entertainment from $149.00 to $128.00 and set a “buy” rating for the company in a report on Tuesday, June 28th. Stifel Nicolaus cut their price objective on shares of Caesars Entertainment from $113.00 to $63.00 in a report on Tuesday, July 19th. Finally, Morgan Stanley cut their price objective on shares of Caesars Entertainment from $122.00 to $99.00 and set an “overweight” rating on the stock in a report on Monday, April 25th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.
Caesars Entertainment Price Performance
Shares of NASDAQ:CZR traded up $2.04 during midday trading on Friday, reaching $51.37. 2,270,568 shares of the company’s stock traded hands, compared to its average volume of 3,586,821. Caesars Entertainment has a 1 year low of $35.10 and a 1 year high of $119.81. The company has a market cap of $11.01 billion, a P/E ratio of -7.47 and a beta of 2.79. The company has a debt-to-equity ratio of 7.06, a quick ratio of 0.99 and a current ratio of 1.00. The company has a fifty day simple moving average of $43.23 and a two-hundred day simple moving average of $60.64.
Insider Activity
In other news, Director Frank J. Fahrenkopf, Jr. sold 2,695 shares of the business’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $52.00, for a total transaction of $140,140.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Caesars Entertainment news, Director Don R. Kornstein acquired 2,500 shares of the stock in a transaction that occurred on Thursday, June 16th. The stock was bought at an average cost of $38.10 per share, with a total value of $95,250.00. Following the completion of the purchase, the director now directly owns 34,353 shares in the company, valued at $1,308,849.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank J. Fahrenkopf, Jr. sold 2,695 shares of the company’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $52.00, for a total transaction of $140,140.00. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in CZR. Janney Montgomery Scott LLC raised its stake in Caesars Entertainment by 18.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 4,394 shares of the company’s stock valued at $411,000 after purchasing an additional 695 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Caesars Entertainment in the 4th quarter valued at $1,272,000. CWM LLC acquired a new position in Caesars Entertainment in the 4th quarter valued at $122,000. Qube Research & Technologies Ltd acquired a new position in Caesars Entertainment in the 4th quarter valued at $649,000. Finally, DekaBank Deutsche Girozentrale raised its stake in Caesars Entertainment by 22.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 28,303 shares of the company’s stock valued at $2,593,000 after purchasing an additional 5,101 shares during the last quarter. Hedge funds and other institutional investors own 94.75% of the company’s stock.
About Caesars Entertainment
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.