5 Stocks to Buy at a Discount Now

4. Caesars Entertainment Inc (NASDAQ:CZR)

Number of Hedge Fund Investors: 56

Casino and entertainment company Caesars Entertainment Inc (NASDAQ:CZR) ranks fourth in our list of the best stocks to buy at a discount according to hedge funds. Earlier this month, JMP started covering the stock with a Market Perform rating as it expects the stock to rise due to strengths in its brick-and-mortar casinos.

As of the end of the third quarter of 2023, 56 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Caesars Entertainment Inc (NASDAQ:CZR).

Baron Real Estate Fund 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)