Hedge Funds and Insiders Are Buying These 5 Stocks

3. Caesars Entertainment Inc (NASDAQ:CZR)

Number of Hedge Fund Investors: 65

Entertainment giant Caesars Entertainment Inc (NASDAQ:CZR) is one of the notable stocks with recent insider purchases as well as a positive hedge fund sentiment.

On March 6,  Michael Pegram, a director at Caesars Entertainment Inc’s (NASDAQ:CZR) board, loaded up on 15,000 shares of Caesars Entertainment Inc (NASDAQ:CZR) at $41.45 per share. Since then the stock has gained about 3.92%.

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)