5 Best Sin Stocks To Invest in 2024

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

Number of Hedge Fund Holders: 56

Caesars Entertainment, Inc. (NASDAQ:CZR), previously Eldorado Resorts, Inc., provides gaming and hospitality services through more than 50 destinations.

In the third quarter, the number of hedge fund investors in Caesars Entertainment, Inc. (NASDAQ:CZR) went down compared to Q2, but the total stake value increased to $1.27 billion in Q3 from $1.155 billion in Q2. One of the top stakeholders of the company was billionaire Ken Griffin’s Citadel Investment Group. The firm increased its stake in the stock by 1797% to 2.9 million shares worth $135.054 million. 

On December 13, TD Cowen lowered the price target on Caesars Entertainment, Inc. (NASDAQ:CZR)’s stock to $63 from $76 and kept an Outperform rating. Despite the decreased price target, the analyst mentioned that the firm is confident about the company’s fundamentals.

Baron Funds mentioned Caesars Entertainment, Inc. (NASDAQ:CZR) in its first quarter 2023 investor letter. Here is what it said:

“In the most recent quarter, we reduced our investment in Caesars Entertainment, Inc. (NASDAQ:CZR), the largest casino-entertainment company in the U.S. and one of the world’s most diversified casino-entertainment providers. We chose to modestly reduce our significant exposure in travel-related real estate companies and reallocated the capital to other non-travel related real estate companies. We are big fans of CEO Tom Reeg and remain optimistic about the long-term prospects for the company.”

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