Caesars Entertainment Co. (CZR) Short Interest Up 31.5% in March

Caesars Entertainment Co. (NASDAQ:CZR) was the target of a significant growth in short interest in March. As of March 29th, there was short interest totalling 30,785,324 shares, a growth of 31.5% from the March 15th total of 23,410,837 shares. Based on an average daily volume of 14,392,585 shares, the days-to-cover ratio is currently 2.1 days. Currently, 5.8% of the company’s stock are short sold.

In other news, EVP Timothy R. Donovan sold 5,354 shares of the stock in a transaction dated Tuesday, March 20th. The shares were sold at an average price of $12.48, for a total transaction of $66,817.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.60% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in CZR. Nationwide Fund Advisors increased its stake in Caesars Entertainment by 182.2% in the third quarter. Nationwide Fund Advisors now owns 91,311 shares of the company’s stock valued at $1,219,000 after purchasing an additional 58,959 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Caesars Entertainment by 619.0% in the third quarter. Bank of New York Mellon Corp now owns 1,920,538 shares of the company’s stock valued at $25,639,000 after purchasing an additional 1,653,439 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Caesars Entertainment by 10.3% in the third quarter. Russell Investments Group Ltd. now owns 53,815 shares of the company’s stock valued at $718,000 after purchasing an additional 5,018 shares during the last quarter. Macquarie Group Ltd. purchased a new position in Caesars Entertainment in the third quarter valued at approximately $346,000. Finally, Legal & General Group Plc increased its stake in Caesars Entertainment by 17.9% in the third quarter. Legal & General Group Plc now owns 123,767 shares of the company’s stock valued at $1,649,000 after purchasing an additional 18,755 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.



A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday. Nomura upgraded shares of Caesars Entertainment from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 7th. BidaskClub lowered shares of Caesars Entertainment from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 7th. Jefferies Group assumed coverage on shares of Caesars Entertainment in a research note on Thursday, January 18th. They set a “hold” rating and a $14.00 target price on the stock. Finally, SunTrust Banks restated an “average” rating and set a $16.00 target price on shares of Caesars Entertainment in a research note on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Caesars Entertainment presently has a consensus rating of “Hold” and a consensus price target of $14.65.

CZR stock opened at $11.00 on Friday. The company has a debt-to-equity ratio of 5.55, a quick ratio of 1.81 and a current ratio of 1.83. Caesars Entertainment has a fifty-two week low of $9.45 and a fifty-two week high of $14.50. The company has a market cap of $7,610.06, a P/E ratio of -3.26 and a beta of 0.30.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Wednesday, March 7th. The company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $2 billion. analysts anticipate that Caesars Entertainment will post 0.59 EPS for the current year.

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About Caesars Entertainment

Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 36,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.

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