Hedge Funds Are Betting On Caesars Entertainment Corp (CZR)

Now, specific money managers have been driving this bullishness. Silver Point Capital, managed by Edward A. Mule, initiated the most valuable position in Caesars Entertainment Corp (NASDAQ:CZR). Silver Point Capital had $5.7 million invested in the company at the end of the quarter. Robert Henry Lynch’s Aristeia Capital also initiated a $1.3 million position during the quarter. The other funds with brand new CZR positions are Christopher Pucillo’s Solus Alternative Asset Management, Neil Chriss’s Hutchin Hill Capital, and John Overdeck and David Siegel’s Two Sigma Advisors.

Let’s now review hedge fund activity in other stocks similar to Caesars Entertainment Corp (NASDAQ:CZR). These stocks are InvenSense Inc (NYSE:INVN), Nuveen Performance Plus Municipal Fund (NYSE:NPP), Berkshire Hills Bancorp, Inc. (NYSE:BHLB), and TiVo Inc. (NASDAQ:TIVO). All of these stocks’ market caps match CZR’s market cap.

As you can see these stocks had an average of 12.75 hedge funds with bullish positions and the average amount invested in these stocks was $51 million. That figure was $254 million in CZR’s case. InvenSense Inc (NYSE:INVN) is the most popular stock in this table. On the other hand Nuveen Performance Plus Municipal Fund (NYSE:NPP) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Caesars Entertainment Corp (NASDAQ:CZR) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.