5 Stocks to Sell According to Julian Robertson’s Tiger Management

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

Number of Hedge Fund Holders: 73

Formerly known as Eldorado Resorts, Inc., Caesars Entertainment, Inc. (NASDAQ:CZR) is one of the world’s most diversified hotel and casino entertainment company, based in Reno, Nevada. Ranked third on our list of the 10 stocks to sell according to Julian Robertson’s Tiger Management, Caesars Entertainment, Inc. (NASDAQ:CZR) has a market capitalization of $23.98 billion.

With a 100% reduction in stakes in the second quarter, Tiger Management sold off all the shares it held of Caesars Entertainment, Inc. (NASDAQ:CZR).

The company released its quarterly earnings report for the second quarter of 2021 on August 3, with reported earnings per share at $0.93, beating market estimates by $1.08. Additionally, the company reported revenues of $2.50 billion, crossing estimates by $103.09 million. At the end of the second quarter of 2021, 73 hedge funds in the database of Insider Monkey held stakes worth $1.83 billion in Caesars Entertainment, Inc. (NASDAQ:CZR) down from 76 in the preceding quarter worth $1.52 billion.

On September 10, Cowen analyst Lance Vitanza raised the firm’s price target on Caesars Entertainment, Inc. (NASDAQ:CZR) to $125 from $120 and kept an Outperform rating on the shares.