Caesars Entertainment Co. (NASDAQ:CZR) was the recipient of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 98,555,344 shares, a decline of 3.2% from the October 31st total of 101,842,352 shares. Based on an average trading volume of 22,028,448 shares, the short-interest ratio is currently 4.5 days. Currently, 17.8% of the company’s shares are sold short.
In other news, Director Thomas M. Benninger acquired 41,000 shares of Caesars Entertainment stock in a transaction dated Tuesday, November 20th. The stock was bought at an average cost of $7.79 per share, with a total value of $319,390.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marco Roca sold 17,834 shares of the company’s stock in a transaction dated Tuesday, November 13th. The stock was sold at an average price of $8.21, for a total value of $146,417.14. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of CZR. Levin Capital Strategies L.P. acquired a new stake in Caesars Entertainment during the third quarter worth approximately $102,000. 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. Lehman Financial Resources Inc. acquired a new stake in Caesars Entertainment during the third quarter worth approximately $123,000. Finally, IBM Retirement Fund acquired a new stake in Caesars Entertainment during the second quarter worth approximately $125,000.
NASDAQ:CZR opened at $8.52 on Friday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 1.14 and a current ratio of 1.16. The company has a market capitalization of $5.80 billion, a price-to-earnings ratio of -2.53, a price-to-earnings-growth ratio of 13.53 and a beta of 0.81. Caesars Entertainment has a 12-month low of $7.64 and a 12-month high of $14.50.
Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Thursday, November 1st. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). Caesars Entertainment had a return on equity of 2.26% and a net margin of 25.75%. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.19 billion. Equities research analysts predict that Caesars Entertainment will post 0.06 EPS for the current fiscal year.
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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