Caesars Entertainment Corporation (CZR) Sees Large Increase in Short Interest
Caesars Entertainment Corporation (NASDAQ:CZR) saw a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 28,767,721 shares, an increase of 8.8% from the November 15th total of 26,434,647 shares. Based on an average trading volume of 8,873,666 shares, the days-to-cover ratio is currently 3.2 days. Approximately 5.6% of the company’s shares are sold short.
Several brokerages have issued reports on CZR. BidaskClub raised Caesars Entertainment from a “hold” rating to a “buy” rating in a research note on Tuesday, October 3rd. ValuEngine lowered Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Zacks Investment Research lowered Caesars Entertainment from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Oppenheimer reaffirmed a “buy” rating and set a $15.00 target price on shares of Caesars Entertainment in a research report on Thursday, November 30th. Finally, Instinet began coverage on Caesars Entertainment in a research report on Friday, October 6th. They set a “neutral” rating and a $14.00 target price on the stock. Three research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.39.
In other Caesars Entertainment news, Director John M. Boushy purchased 20,000 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were purchased at an average cost of $12.64 per share, with a total value of $252,800.00. Following the completion of the purchase, 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 through the SEC website. Also, EVP Janis L. Jones sold 26,131 shares of the business’s stock in a transaction that occurred 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 owned by insiders.
Caesars Entertainment (NASDAQ CZR) opened at $12.50 on Wednesday. The company has a debt-to-equity ratio of -1.69, a quick ratio of 0.48 and a current ratio of 0.48. Caesars Entertainment has a 12-month low of $7.05 and a 12-month high of $13.60.
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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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