Caesars Entertainment, Inc. (NASDAQ:CZR) Short Interest Update

Key Points

• Short interest fell 23.2% to 20,653,583 shares as of March 31, representing about 10.3% of shares sold short and a days-to-cover ratio of 4.0, signaling reduced bearish positioning.
• Earnings missed expectations: Caesars reported Q4 EPS of ($1.23) versus ($0.18) expected, with negative net margin and ROE, yet analysts hold a "Moderate Buy" consensus and an average target of $32.13.
• Heavy institutional ownership: Institutions hold 91.79% of the stock, with notable position increases by firms such as Assenagon and Capital World Investors, indicating substantial institutional inflows.

Caesars Entertainment, Inc. (NASDAQ:CZR - Get Free Report) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totaling 20,653,583 shares, a decrease of 23.2% from the March 15th total of 26,892,014 shares. Based on an average daily trading volume, of 5,143,605 shares, the days-to-cover ratio is currently 4.0 days. Currently, 10.3% of the shares of the stock are sold short.

Caesars Entertainment Stock Down 0.7%

Shares of NASDAQ CZR opened at $26.56 on Wednesday. Caesars Entertainment has a one year low of $17.86 and a one year high of $31.58. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.80 and a quick ratio of 0.78. The firm's 50 day simple moving average is $24.52 and its two-hundred day simple moving average is $23.41. The stock has a market capitalization of $5.41 billion, a P/E ratio of -10.93 and a beta of 1.87.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($1.23) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($1.05). Caesars Entertainment had a negative net margin of 4.37% and a negative return on equity of 7.97%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the business earned $0.05 earnings per share. The firm's revenue was up 4.2% on a year-over-year basis. As a group, analysts expect that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CZR shares. JPMorgan Chase & Co. lowered their price target on shares of Caesars Entertainment from $37.00 to $36.00 and set an "overweight" rating on the stock in a report on Wednesday, February 18th. Susquehanna raised shares of Caesars Entertainment from a "neutral" rating to a "positive" rating and increased their price target for the stock from $25.00 to $31.00 in a report on Thursday, January 8th. Truist Financial lowered their price target on shares of Caesars Entertainment from $30.00 to $29.00 and set a "buy" rating on the stock in a report on Wednesday, February 18th. Weiss Ratings reissued a "sell (e+)" rating on shares of Caesars Entertainment in a report on Wednesday, January 21st. Finally, Zacks Research raised shares of Caesars Entertainment from a "strong sell" rating to a "hold" rating in a report on Friday, March 6th. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Caesars Entertainment currently has an average rating of "Moderate Buy" and an average target price of $32.13.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. ING Groep NV grew its position in Caesars Entertainment by 80.2% during the third quarter. ING Groep NV now owns 599,854 shares of the company's stock valued at $16,211,000 after acquiring an additional 266,917 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Caesars Entertainment by 317.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,274,430 shares of the company's stock valued at $76,589,000 after acquiring an additional 2,490,924 shares during the last quarter. Principal Financial Group Inc. grew its position in Caesars Entertainment by 56.4% during the third quarter. Principal Financial Group Inc. now owns 1,700,389 shares of the company's stock valued at $45,953,000 after acquiring an additional 612,837 shares during the last quarter. Capital World Investors grew its position in Caesars Entertainment by 29.8% during the third quarter. Capital World Investors now owns 16,193,070 shares of the company's stock valued at $437,622,000 after acquiring an additional 3,716,148 shares during the last quarter. Finally, LDR Capital Management LLC bought a new position in Caesars Entertainment during the third quarter valued at approximately $1,172,000. 91.79% of the stock is currently owned by institutional investors.

About Caesars Entertainment

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah's by William F.

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