Top 5 Stock Picks of Peter S. Park’s Park West Asset Management

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

Park West Asset Management Stake Value: $219,945,000
Percentage of Park West Asset Management’s 13F Portfolio: 5.22%
Number of Hedge Fund Holders: 64

Caesars Entertainment, Inc. (NASDAQ:CZR), located in Reno, Nevada, is an American hotel and casino entertainment corporation. Park West Asset Management began building its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) back in the third quarter of 2020. According to the 13F filings for the third quarter of 2021, the hedge fund holds 1.96 million shares of the company, worth about $219.95 million.

In December, Wells Fargo analyst Daniel Politzer trimmed his price target on Caesars Entertainment, Inc. (NASDAQ:CZR) to $127 from $145 and kept an “Overweight” rating on the shares. The recent decline in USSB/iGaming-exposed equities, according to Politzer, has generated some intriguing possibilities and he recommends Caesars Entertainment, Inc. (NASDAQ:CZR) to anybody who is interested in investing in digital gambling.

As of the end of the third quarter, 64 hedge funds in Insider Monkey’s database of 867 funds held stakes in Caesars Entertainment, Inc. (NASDAQ:CZR), compared to 73 funds in the previous quarter.