Today: Caesars Entertainment Corp. (CZR) Sees Significant Drop in Short Interest

Today: Caesars Entertainment Corp. (CZR) Sees Significant Drop in Short Interest

Caesars Entertainment Corp. (NASDAQ:CZR) was the recipient of a significant drop in short interest in November. As of November 15th, there was short interest totalling 12,310,716 shares, a drop of 10.7% from the October 31st total of 13,788,796 shares. Approximately 52.3% of the shares of the stock are sold short. Based on an average daily volume of 721,631 shares, the days-to-cover ratio is currently 17.1 days.

A number of hedge funds have recently bought and sold shares of the stock. Mason Capital Management LLC bought a new position in shares of Caesars Entertainment Corp. during the third quarter valued at about $53,607,000. Senator Investment Group LP bought a new position in shares of Caesars Entertainment Corp. during the second quarter valued at about $25,971,000. Long Pond Capital LP bought a new position in shares of Caesars Entertainment Corp. during the third quarter valued at about $12,995,000. BlackRock Fund Advisors boosted its position in shares of Caesars Entertainment Corp. by 8.7% in the third quarter. BlackRock Fund Advisors now owns 1,435,545 shares of the company’s stock valued at $10,695,000 after buying an additional 114,859 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Caesars Entertainment Corp. by 8.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,275,421 shares of the company’s stock valued at $9,502,000 after buying an additional 99,132 shares during the period. Institutional investors and hedge funds own 62.41% of the company’s stock.

Shares of Caesars Entertainment Corp. (NASDAQ:CZR) opened at 7.55 on Monday. Caesars Entertainment Corp. has a 52-week low of $5.39 and a 52-week high of $10.84. The stock’s market cap is $1.11 billion. The company’s 50 day moving average price is $7.24 and its 200 day moving average price is $7.37.

Caesars Entertainment Corp. (NASDAQ:CZR) last announced its earnings results on Monday, November 7th. The company reported ($4.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $4.30. Caesars Entertainment Corp. had a negative return on equity of 818.18% and a negative net margin of 68.93%. The business had revenue of $986 million for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the firm earned ($5.44) earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, analysts anticipate that Caesars Entertainment Corp. will post ($16.90) earnings per share for the current year.

About Caesars Entertainment Corp.

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