Caesars Entertainment Co. (CZR) Short Interest Down 3.0% in October

Caesars Entertainment Co. (NASDAQ:CZR) saw a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 106,402,226 shares, a decrease of 3.0% from the September 28th total of 109,668,059 shares. Currently, 19.2% of the company’s stock are short sold. Based on an average daily trading volume, of 15,184,413 shares, the short-interest ratio is currently 7.0 days.

Shares of CZR stock opened at $8.80 on Friday. The company has a debt-to-equity ratio of 5.52, a current ratio of 1.98 and a quick ratio of 1.96. The company has a market cap of $6.58 billion, a price-to-earnings ratio of -2.61 and a beta of 0.52. Caesars Entertainment has a 12-month low of $8.39 and a 12-month high of $14.50.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Wednesday, August 1st. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.03. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.10 billion. Caesars Entertainment had a net margin of 21.90% and a negative return on equity of 4.71%. The business’s revenue for the quarter was up 110.2% compared to the same quarter last year. During the same period last year, the business posted ($9.62) earnings per share. On average, sell-side analysts anticipate that Caesars Entertainment will post -0.06 EPS for the current fiscal year.



In other Caesars Entertainment news, insider Mark P. Frissora acquired 100,000 shares of Caesars Entertainment stock in a transaction dated Friday, August 3rd. The stock was bought at an average cost of $9.55 per share, for a total transaction of $955,000.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John M. Boushy acquired 10,000 shares of Caesars Entertainment stock in a transaction dated Tuesday, August 7th. The shares were acquired at an average price of $9.95 per share, with a total value of $99,500.00. Following the completion of the purchase, the director now owns 46,139 shares in the company, valued at $459,083.05. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 125,000 shares of company stock valued at $1,199,150. Company insiders own 0.92% of the company’s stock.

A number of hedge funds have recently modified their holdings of CZR. Sawtooth Solutions LLC acquired a new stake in Caesars Entertainment during the second quarter worth approximately $108,000. KCM Investment Advisors LLC acquired a new stake in Caesars Entertainment during the second quarter worth approximately $120,000. IBM Retirement Fund acquired a new stake in Caesars Entertainment during the second quarter worth approximately $125,000. Oakbrook Investments LLC acquired a new stake in Caesars Entertainment during the third quarter worth approximately $148,000. Finally, Metropolitan Life Insurance Co. NY lifted its position in Caesars Entertainment by 309.0% during the second quarter. Metropolitan Life Insurance Co. NY now owns 177,460 shares of the company’s stock worth $171,000 after acquiring an additional 134,067 shares during the last quarter.

CZR has been the subject of several recent analyst reports. BidaskClub upgraded shares of Caesars Entertainment from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 12th. Deutsche Bank initiated coverage on shares of Caesars Entertainment in a research note on Tuesday, September 4th. They issued a “buy” rating and a $14.00 target price for the company. Credit Suisse Group initiated coverage on shares of Caesars Entertainment in a research note on Tuesday, September 11th. They issued an “outperform” rating and a $13.00 target price for the company. UBS Group initiated coverage on shares of Caesars Entertainment in a research note on Monday, September 24th. They issued a “sell” rating and a $9.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Monday, September 24th. Four analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $13.10.

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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