Shake-Up Alert: 40 Companies Facing Activist Pressure

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3. Icahn Enterprises at Caesars Entertainment, Inc. (NASDAQ:CZR)

Stock Return: 2.39%

S&P 500 Return: 1.15%

Investment date: 03/06/2024

Number of hedge funds holding stakes: 57

Activist investor Carl Icahn has amassed a significant hotel and casino operator position at Caesars Entertainment, Inc. (NASDAQ:CZR) through investment firm Icahn Enterprise. In 2020, the company joined forces with Eldorado and has since been working on reorganizing its finances and focusing on enhancing its financial position. To achieve this, it has sold off numerous assets and shut down several properties. Caesars Entertainment, Inc. (NASDAQ:CZR) has been careful about how it uses its funds and has been exploring new opportunities that are likely to be profitable and beneficial.

The impact of Icahn’s strategies to enhance value at Caesars Entertainment, Inc. (NASDAQ:CZR) is still uncertain. The hotel and casino company has faced significant challenges, declining its stock by 17% year-to-date.

The number of hedge funds tracked by Insider Monkey holding stakes in Caesars Entertainment, Inc. (NASDAQ:CZR) dropped to 57 in Q1 2024 from 65 as of Q4 2023.

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