5 Leisure and Recreation Services Stocks to Buy

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

Number of Hedge Fund Holders: 65

Caesars Entertainment, Inc. (NASDAQ:CZR) is a gaming and hospitality company that operates Caesars Palace, Harrah’s, and Horseshoe, among others. 65 hedge funds held positions in Caesars Entertainment, Inc. (NASDAQ:CZR) in the fourth quarter and their stakes amounted to $1.36 billion. As of December 31, 2023, HG Vora Capital Management is the largest shareholder in the company and has a position worth $239.088 million, representing 12.21% of the investment portfolio.

On April 19, JMP Securities analyst Jordan Bender lowered the price target on Caesars Entertainment, Inc. (NASDAQ:CZR) to $62 from $65 and kept an Outperform rating on the shares.

Baron Funds stated the following regarding Caesars Entertainment, Inc. (NASDAQ:CZR) in its fourth quarter 2023 investor letter:

“In the most recent quarter, we acquired additional shares 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 are big fans of CEO Tom Reeg and remain optimistic about the long-term prospects for the company.

The company operates primarily under the Caesars, Harrah’s, Horseshoe, and Eldorado brand names. The company generates approximately 50% of its cash flow from Las Vegas and 50% from regional destination markets. The company owns approximately half of its real estate and leases the other half from gaming REIT companies – Gaming and Leisure Properties, Inc. and VICI Properties Inc…” (Click here to read the full article)

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