Caesars Entertainment Corp (NASDAQ:CZR) saw a significant drop in short interest in the month of December. As of December 29th, there was short interest totalling 19,503,695 shares, a drop of 26.0% from the December 15th total of 26,360,194 shares. Currently, 3.3% of the shares of the stock are sold short. Based on an average trading volume of 6,947,176 shares, the days-to-cover ratio is currently 2.8 days.
Shares of Caesars Entertainment (CZR) opened at $13.40 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of -1.69. The company has a market capitalization of $9,150.00, a PE ratio of -0.66 and a beta of 0.31. Caesars Entertainment has a 12-month low of $8.50 and a 12-month high of $13.60.
In related news, Director John M. Boushy acquired 20,000 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was bought at an average cost of $12.64 per share, with a total value of $252,800.00. Following the completion of the acquisition, the director now owns 20,000 shares in the company, valued at $252,800. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Janis L. Jones sold 26,131 shares of Caesars Entertainment stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $12.86, for a total value of $336,044.66. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its position in Caesars Entertainment by 88.0% in the second quarter. BNP Paribas Arbitrage SA now owns 10,449 shares of the company’s stock worth $125,000 after purchasing an additional 4,892 shares during the period. Quantbot Technologies LP increased its position in Caesars Entertainment by 647.9% in the second quarter. Quantbot Technologies LP now owns 12,116 shares of the company’s stock worth $145,000 after purchasing an additional 10,496 shares during the period. Stevens Capital Management LP acquired a new stake in Caesars Entertainment in the third quarter worth about $185,000. Oppenheimer & Co. Inc. acquired a new stake in Caesars Entertainment in the third quarter worth about $284,000. Finally, Cowen Inc. acquired a new stake in Caesars Entertainment in the third quarter worth about $334,000. Hedge funds and other institutional investors own 20.46% of the company’s stock.
CZR has been the subject of a number of research reports. Zacks Investment Research lowered Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Monday, December 4th. BidaskClub lowered Caesars Entertainment from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 9th. Instinet initiated coverage on Caesars Entertainment in a research note on Friday, October 6th. They issued a “neutral” rating and a $14.00 target price for the company. Oppenheimer restated a “buy” rating and issued a $15.00 target price on shares of Caesars Entertainment in a research note on Thursday, November 30th. Finally, Nomura initiated coverage on Caesars Entertainment in a research note on Friday, October 6th. They issued a “neutral” rating and a $14.00 target price for the company. Three analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. Caesars Entertainment has an average rating of “Hold” and an average target price of $14.39.
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Caesars Entertainment Company Profile
Caesars Entertainment Corporation is a holding company. The Company provides casino-entertainment and hospitality services. The Company’s segments include Caesars Entertainment Resort Properties, LLC (CERP), Caesars Growth Partners, LLC (CGP) and Other. The Company’s resorts operate primarily under the Harrah’s, Caesars and Horseshoe brand names.
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