5 Best Las Vegas Stocks to Buy Right Now

1. Caesars Entertainment, Inc. (NASDAQ:CZR)

No. of Hedge Fund Holders: 56

Caesars Entertainment, Inc. (NASDAQ:CZR) is a geographically-diversified gaming and hospitality company. Its primary source of revenue is gaming operations.

In Q3 2022, Caesars Entertainment, Inc. (NASDAQ:CZR) saw strong revenue growth and smaller-than-expected EBITDA loss due to improved operating efficiencies. Its GAAP net revenues came at $2.9 billion versus $2.7 billion in Q3 2021.

As of September 30, 2022, Caesars Entertainment, Inc. (NASDAQ:CZR) had $13.3 billion in aggregate principal amount of debt outstanding. The company’s total cash and cash equivalents came at $944 million, excluding restricted cash of $297 million.

Director Michael E. Pegram bought 25,000 shares of the firm’s stock on November 4 at an average cost of $44.74 per share, totalling $1,118,500.00. Post this transaction, the director now owns 96,697 shares, worth approximately $4,326,223.78.

Analysts at Wells Fargo & Company initiated a coverage on the shares of Caesars Entertainment, Inc. (NASDAQ:CZR) and they increased their target price from $64.00 to $72.00. They gave an “Overweight” rating on November 2.

Overall, 56 out of the 920 hedge funds tracked by Insider Monkey reported owning shares of the company at the end of Q3.

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