5 Ridiculously Cheap Stocks to Buy Now and Hold for the Long Term

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

PE Ratio as of April 12: 10.97

Revenue Growth (5-year): 49.97%

Number of Hedge Fund Holders: 65

Caesars Entertainment, Inc. (NASDAQ:CZR) is a hotel and casino entertainment company that has properties in more than 50 destinations and operates well-known brands, including Caesars Palace, Harrah’s, Horseshoe, Eldorado, and others. The company has recorded a revenue growth of 49.97% over the last five years and the stock has a PE ratio of 10.97, as of April 12.

Based on 9 Wall Street analysts’ ratings over the past three months, Caesars Entertainment, Inc. (NASDAQ:CZR) has a consensus rating of Strong Buy. The average price target of $59.40 implies an upside of 48.13% from the last price of $40.10, as of April 12.

Hedge sentiment was positive toward Caesars Entertainment, Inc. (NASDAQ:CZR) in the fourth quarter of 2023 as 65 hedge funds held positions in the stock worth $1.36 billion. This is compared to 56 funds’ positions in the preceding quarter worth $1.269 billion. As of the fourth quarter of 2023, HG Vora Capital Management is the top shareholder in the company and has a position worth $239.088 million.

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)