{"id":106108,"date":"2019-06-02T03:00:39","date_gmt":"2019-06-02T10:00:39","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=106108"},"modified":"2020-10-09T09:20:13","modified_gmt":"2020-10-09T16:20:13","slug":"as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/","title":{"rendered":"As Potential Suitors Circle, Caesars Stock Remains Hedge Fund Favorite"},"content":{"rendered":"

With Caesars Entertainment being discussed as an acquisition target, hedge funds remain fans of the stock.<\/p>\n

\"caesars
Caesars stock continues to be bought by several well-known hedge funds. (Image: Fortune)<\/figcaption><\/figure>\n

A report from Jefferies, an investment bank and brokerage firm, highlights new holdings established by high and low turnover hedge funds in the first quarter. High turnover hedge funds are those that are likely to move in and out of trades in days or weeks whereas low turnover funds are apt to hold securities for several months or longer.<\/p>\n

Las Vegas-based Caesars, which operates casinos under the Caesars, Harrah’s and Horseshoe brands, among others, turns up as a favorite of hedge funds likely to hold positions for extended periods of time.<\/p>\n

Why It’s Important<\/b><\/h2>\n

There are multiple reasons why hedge funds’ affinity for shares of Caesars is noteworthy for ordinary investors. First, the hedges buying the stock appear to be in the stock for more than a quick trade, and those funds are outperforming their rivals that more frequently buy and sell securities.<\/p>\n

\n

Looking at the performance and making the assumption that nothing changed between 12\/31 and 3\/31, we found that the Low Turnover managers posted better results, at 19.7 percent versus the High Turnover at 15.9 percent,\u201d according to Caesars.<\/p>\n<\/blockquote>\n

Second, hedge fund ownership of Caesars shares could be a sign that long-discussed rumors regarding a sale of the casino operator could come to fruition.\u00a0Deutsche Bank analyst Carlo Santarelli said in a note out Wednesday that the odds of Eldorado Resorts acquiring Caesars are increasing<\/a>.<\/p>\n

Ownership of Caesars stock reads like a who’s who of the hedge fund universe. Icahn Capital LP, the investment vehicle of legendary activist investor Carl Icahn, owned 99.25 million shares of Caesars at the end of the first quarter, making it the largest hedge fund owner of the stock.<\/p>\n

Although Soros Fund Management, LLC, the family office founded by billionaire investor George Soros, recently reduced its Caesars stake<\/a>, the investment manager is still among the largest owners of the stock.<\/p>\n

\n

Canyon Capital Advisors, a Los Angeles-based alternative investment manager, owned 77.58 million shares of Caesars at the end of the first quarter, representing 16.25 percent of that firm’s equity portfolios. That hedge fund also owns positions in VICI Properties, the real estate investment trust (REIT) spun off from Caesars in 2017, and MGM Resorts International.<\/p>\n<\/div>\n

Other well-known hedge funds with positions in Caesars include David Tepper’s Appaloosa Management LP and Howard Marks’ Oaktree Capital Management.<\/p>\n

Committed To Caesars<\/b><\/h2>\n

Investors considering taking a run at Caesars themselves may find the following informative: in the first quarter, just two of the 10 largest hedge fund owners of the stock, including Soros Fund Management, reduced exposure to the shares.<\/p>\n

Five increased their stakes in the casino giant, while the stock was a new position for two hedge funds. Tepper’s Appaloosa Management did not add to or part with any of its Caesars investment in the first three months of the year.<\/p>\n","protected":false},"excerpt":{"rendered":"

With Caesars Entertainment being discussed as an acquisition target, hedge funds remain fans of the stock. A report from Jefferies, an investment bank and brokerage firm, highlights new holdings established by high and low turnover hedge funds in the first quarter. High turnover hedge funds are those that are likely to move in and out […]<\/p>\n","protected":false},"author":46,"featured_media":106111,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,33810],"tags":[],"acf":[],"yoast_head":"\nAs Potential Suitors Circle, Caesars Stock Remains Hedge Fund Favorite<\/title>\n<meta name=\"description\" content=\"With Caesars Entertainment continuing to be discussed for a potential acquisition target, hedge funds remain fans of the stock.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"As Potential Suitors Circle, Caesars Stock Remains Hedge Fund Favorite\" \/>\n<meta property=\"og:description\" content=\"With Caesars Entertainment continuing to be discussed for a potential acquisition target, hedge funds remain fans of the stock.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-02T10:00:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-10-09T16:20:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/06\/caesars.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/\",\"url\":\"https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/\",\"name\":\"As Potential Suitors Circle, Caesars Stock Remains Hedge Fund Favorite\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/06\/caesars.jpg\",\"datePublished\":\"2019-06-02T10:00:39+00:00\",\"dateModified\":\"2020-10-09T16:20:13+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"With Caesars Entertainment continuing to be discussed for a potential acquisition target, hedge funds remain fans of the stock.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/06\/caesars.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/06\/caesars.jpg\",\"width\":1920,\"height\":1080,\"caption\":\"Caesars stock continues to be bought by several well-known hedge funds. (Image: Fortune)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Commercial Gaming\",\"item\":\"https:\/\/www.casino.org\/news\/commercial-gaming\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"As Potential Suitors Circle, Caesars Stock Remains Hedge Fund Favorite\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"As Potential Suitors Circle, Caesars Stock Remains Hedge Fund Favorite","description":"With Caesars Entertainment continuing to be discussed for a potential acquisition target, hedge funds remain fans of the stock.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/","og_locale":"en_US","og_type":"article","og_title":"As Potential Suitors Circle, Caesars Stock Remains Hedge Fund Favorite","og_description":"With Caesars Entertainment continuing to be discussed for a potential acquisition target, hedge funds remain fans of the stock.","og_url":"https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2019-06-02T10:00:39+00:00","article_modified_time":"2020-10-09T16:20:13+00:00","og_image":[{"width":1920,"height":1080,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/06\/caesars.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/","url":"https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/","name":"As Potential Suitors Circle, Caesars Stock Remains Hedge Fund Favorite","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/06\/caesars.jpg","datePublished":"2019-06-02T10:00:39+00:00","dateModified":"2020-10-09T16:20:13+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"With Caesars Entertainment continuing to be discussed for a potential acquisition target, hedge funds remain fans of the stock.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/06\/caesars.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/06\/caesars.jpg","width":1920,"height":1080,"caption":"Caesars stock continues to be bought by several well-known hedge funds. (Image: Fortune)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/as-potential-suitors-circle-caesars-stock-remains-hedge-fund-favorite\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Commercial Gaming","item":"https:\/\/www.casino.org\/news\/commercial-gaming\/"},{"@type":"ListItem","position":3,"name":"As Potential Suitors Circle, Caesars Stock Remains Hedge Fund Favorite"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/106108"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=106108"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/106108\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/106111"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=106108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=106108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=106108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}