The Attractiveness of Investing In Caesars Entertainment Inc. (CZR) is Growing


Caesars Entertainment Inc.’s recently made public that its Director Pegram Michael E acquired Company’s shares for reported $1.12 million on Nov 04. In the deal valued at $44.74 per share,25,000 shares were bought. As a result of this transaction, Pegram Michael E now holds 96,697 shares worth roughly $ 4.84 million.

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Then, TOMICK DAVID P bought 1,100 shares, generating $42,229 in total proceeds. Upon buying the shares at $38.39, the Director now owns 5,800 shares.

Before that, KORNSTEIN DON R bought 2,500 shares. Caesars Entertainment Inc. shares valued at $95,250 were divested by the Director at a price of $38.10 per share. As a result of the transaction, KORNSTEIN DON R now holds 34,353 shares, worth roughly $1.72 million.

Stifel reiterated its Caesars Entertainment Inc. [CZR] rating to a Buy in a research note published on Friday, January 24, 2023; the price target was $68. PT values the company’s stock at a premium of 26.43 to its Friday closing price. A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in mid December from “a Buy” to “a Neutral”. Morgan Stanley began covering CZR with “an Equal-weight” recommendation on November 21, 2022. Susquehanna started covering the stock on July 20, 2022. It rated CZR as “a Neutral”.

Price Performance Review of CZR

On Friday, Caesars Entertainment Inc. [NASDAQ:CZR] saw its stock fall -4.76% to $50.03. On the same session, the stock had its day’s lowest price of $49.37, but rose to a high of $51.06. Over the last five days, the stock has lost -4.12%. Caesars Entertainment Inc. shares have risen nearly 20.26% since the year began. Nevertheless, the stocks have fallen -36.41% over the past one year. While a 52-week high of $87.43 was reached on 02/03/23, a 52-week low of $31.31 was recorded on 01/03/23. SMA at 50 days reached $48.80, while 200 days put it at $45.61. A total of 3.12 million shares were traded, compared to the trading of 3.28 million shares in the previous session.

Levels Of Support And Resistance For CZR Stock

The 24-hour chart illustrates a support level at 49.25, which if violated will result in even more drops to 48.46. On the upside, there is a resistance level at 50.94. A further resistance level may holdings at 51.84. The Relative Strength Index (RSI) on the 14-day chart is 45.71, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.73, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.79%. Stochastics %K at 34.10% indicates the stock is a holding.

How much short interest is there in Caesars Entertainment Inc.?

A steep rise in short interest was recorded in Caesars Entertainment Inc. stocks on Jan 30, 2023, dropping by -3.23 million shares to a total of 8.24 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 11.47 million shares. There was a decline of -39.2%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.29% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.88.

Caesars Entertainment Inc. [CZR] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 21,937,640 shares, or roughly 10.22% of the outstanding CZR shares. In other words, the investor’s shares have risen by 463,874 from its previous 13-F filing of 21473766.0. Additionally, Capital Research & Management Co increased 0.02% of its stake after which the total value it holdings stand at $1,088,092,681, while Fidelity Management & Research Co added 9.40% of its stake to hold $948.02 million in the firm. Over the last quarter, Janus Henderson Investors US LLC sold -701,488 shares of Caesars Entertainment Inc., while Capital Research & Management Co sold -496,558 shares. At present, BlackRock Fund Advisors is holding 10,414,517 shares valued at $542.18 million. SSgA Funds Management, Inc. owned 7,583,507 shares of the company at the time of its most recent 13F filing, worth $394.8 million.

According to FactSet, Caesars Entertainment Inc.’s share price will average $72.46 in the next year, based on opinions of analysts polled by the firm. This is up nearly 33.26 percent from its previous closing price of $52.53. Analysts expect Caesars Entertainment Inc. stock to reach the higher price of $111.00, while the lowest price estimate is $52.00. However, 14 analysts have rated CZR stock as an Overweight in their predictions for 2023.


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