Latest news with #JDPCapitalManagement
Yahoo
2 days ago
- Business
- Yahoo
Jim Cramer Says He Is 'Not a Buyer of Caesar's Entertainment'
Caesars Entertainment, Inc. (NASDAQ:CZR) is one of the stocks that Jim Cramer looked at. A caller asked about the company, and Cramer stated: 'No, I'm not a buyer of Caesar's Entertainment… I don't know why we'd want to be in this also-ran. If you want to be in casino, you want to be in WYNN, okay. WYNN is the way to go.' Image Courtesy of Caesars Caesars (NASDAQ:CZR) operates gaming and hospitality properties featuring slot machines, table games, hotel accommodations, and entertainment venues. The company also provides sports betting, iGaming, and related services. JDP Capital Management stated the following regarding Caesars Entertainment, Inc. (NASDAQ:CZR) in its Q1 2025 investor letter: 'Caesars Entertainment, Inc. (NASDAQ:CZR) – In terms of upside it is not hard to see $80 or $90 per share for CZR in present value using a simple breakup value analysis (200% to 300%+ upside) from today's $25 price. Although Vegas and regional brick and mortar casino revenue declined by 1% in 2024, we are invested in CZR for the unrecognized earnings power of the high margin, high return on capital online gaming business. As the largest and arguably most investor-friendly gaming and hotel business in the US, CZR is benefiting from state-by-state legalization of online gaming. In 2024 CZR's online gaming business (Caesars Palace and Horseshoe Apps) grew 20% to 1.2 billion with EBITDA up 207% to $117 million over 2023. In 4Q 2024, iGaming revenue grew 65% on top of 54% growth in 2023. Helping to fuel 2025 online gaming growth, Caesars is launching a live, iCasino in-app product in Michigan and New Jersey following legalization in those states. CEO Tom Reeg is confident that the online gaming business is on track to achieve $500 million in EBITDA as planned. Once achieved, the online business would be worth well in excess of the entire company current market cap of $5 billion. Setting aside this potential, CZR should earn over $1 billion in after-tax free cash flow in 2025 implying a 20%+ equity yield on the stock today. Caesars recently expanded its board to include two Carl Ichan-appointed members. The stock was down over 25% in the first quarter.' Caesars Entertainment (NASDAQ:CZR) operates gaming and hospitality properties featuring slot machines, table games, hotels, and entertainment venues. The company also provides retail and online sports betting, iGaming, and related services. While we acknowledge the potential of CZR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
25-04-2025
- Business
- Yahoo
Here's What Happened to Redfin Corporation (RDFN) After the Acquisition Announcement
JDP Capital Management, an investment management company, released its 'Survivor & Thriver Fund' first quarter 2025 investor letter. A copy of the letter can be downloaded here. The uncertainty surrounding the impact of tariffs on corporate earnings has led to significant volatility in individual stocks in the first quarter. In this environment, the fund was down 2% net to investors compared to a -4.2% return for the S&P 500, including dividends. For more information on the fund's best picks in 2025, please check its top five holdings. In its first-quarter 2025 investor letter, JDP Capital Management highlighted stocks such as Redfin Corporation (NASDAQ:RDFN). Headquartered in Seattle, Washington, Redfin Corporation (NASDAQ:RDFN) is a real estate brokerage company. The one-month return of Redfin Corporation (NASDAQ:RDFN) was -15.75%, and its shares gained 66.22% of their value over the last 52 weeks. On April 23, 2025, Redfin Corporation (NASDAQ:RDFN) stock closed at $8.61 per share with a market capitalization of $1.1 billion. JDP Capital Management stated the following regarding Redfin Corporation (NASDAQ:RDFN) in its Q1 2025 investor letter: "Redfin Corporation (NASDAQ:RDFN) - In December 2022 the fund took a small position in the real estate brokerage firm Redfin at a cost of $4.5 per share. In April 2025 Redfin announced it was being acquired by the leading brokerage firm Rocket Companies (RKT) for $12.50 per share in stock. The transaction makes a lot of sense because RDFN will be stronger and more profitable as a customer acquisition service for a much larger and well capitalized national mortgage player. After the transaction closes in 2Q we plan to keep our RKT stock as the business is better positioned than Redfin to benefit from even a slight recovery in the housing market." A skyline view of a bustling city, representing the company's presence in the real estate market. Redfin Corporation (NASDAQ:RDFN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held Redfin Corporation (NASDAQ:RDFN) at the end of the fourth quarter, compared to 22 in the third quarter. While we acknowledge the potential of Redfin Corporation (NASDAQ:RDFN) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. In another article, we covered Redfin Corporation (NASDAQ:RDFN) and shared the list of most active US stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
24-04-2025
- Business
- Yahoo
Caesars Entertainment (CZR) Fell Over 25% in Q1
JDP Capital Management, an investment management company, released its 'Survivor & Thriver Fund' first quarter 2025 investor letter. A copy of the letter can be downloaded here. The uncertainty surrounding the impact of tariffs on corporate earnings has led to significant volatility in individual stocks in the first quarter. In this environment, the fund was down 2% net to investors compared to a -4.2% return for the S&P 500, including dividends. For more information on the fund's best picks in 2025, please check its top five holdings. In its first-quarter 2025 investor letter, JDP Capital Management highlighted stocks such as Caesars Entertainment, Inc. (NASDAQ:CZR). Caesars Entertainment, Inc. (NASDAQ:CZR) is a gaming and hospitality company. The one-month return of Caesars Entertainment, Inc. (NASDAQ:CZR) was -1.07%, and its shares lost 29.76% of their value over the last 52 weeks. On April 23, 2025, Caesars Entertainment, Inc. (NASDAQ:CZR) stock closed at $26.72 per share with a market capitalization of $5.66 billion. JDP Capital Management stated the following regarding Caesars Entertainment, Inc. (NASDAQ:CZR) in its Q1 2025 investor letter: "Caesars Entertainment, Inc. (NASDAQ:CZR) - In terms of upside it is not hard to see $80 or $90 per share for CZR in present value using a simple breakup value analysis (200% to 300%+ upside) from today's $25 price. Although Vegas and regional brick and mortar casino revenue declined by 1% in 2024, we are invested in CZR for the unrecognized earnings power of the high margin, high return on capital online gaming business. As the largest and arguably most investor-friendly gaming and hotel business in the US, CZR is benefiting from state-by-state legalization of online gaming. In 2024 CZR's online gaming business (Caesars Palace and Horseshoe Apps) grew 20% to 1.2 billion with EBITDA up 207% to $117 million over 2023. In 4Q 2024, iGaming revenue grew 65% on top of 54% growth in 2023. Helping to fuel 2025 online gaming growth, Caesars is launching a live, iCasino in-app product in Michigan and New Jersey following legalization in those states. CEO Tom Reeg is confident that the online gaming business is on track to achieve $500 million in EBITDA as planned. Once achieved, the online business would be worth well in excess of the entire company current market cap of $5 billion. Setting aside this potential, CZR should earn over $1 billion in after-tax free cash flow in 2025 implying a 20%+ equity yield on the stock today. Caesars recently expanded its board to include two Carl Ichan-appointed members. The stock was down over 25% in the first quarter." A general view of a luxury resort casino, surrounded by a beautiful landscape and illuminated at night. Caesars Entertainment, Inc. (NASDAQ:CZR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 79 hedge fund portfolios held Caesars Entertainment, Inc. (NASDAQ:CZR) at the end of the fourth quarter compared to 67 in the third quarter. While we acknowledge the potential of Caesars Entertainment, Inc. (NASDAQ:CZR) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. In another article, we covered Caesars Entertainment, Inc. (NASDAQ:CZR) and shared the list of most promising long-term stocks according to analysts. JDP Capital Management shared optimism about Caesars Entertainment, Inc.'s (NASDAQ:CZR) prospects for 2025 in its Q4 2024 investor letter. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
23-04-2025
- Business
- Yahoo
Spotify Technology S.A. (SPOT): JDP Capital's Largest Holding
JDP Capital Management, an investment management company, released its 'Survivor & Thriver Fund' first quarter 2025 investor letter. A copy of the letter can be downloaded here. The uncertainty surrounding the impact of tariffs on corporate earnings has led to significant volatility in individual stocks in the first quarter. In this environment, the fund was down 2% net to investors compared to a -4.2% return for the S&P 500, including dividends. For more information on the fund's best picks in 2025, please check its top five holdings. In its first-quarter 2025 investor letter, JDP Capital Management highlighted stocks such as Spotify Technology S.A. (NYSE:SPOT). Headquartered in Luxembourg City, Luxembourg, Spotify Technology S.A. (NYSE:SPOT) offers audio streaming subscription services. The one-month return of Spotify Technology S.A. (NYSE:SPOT) was 2.44%, and its shares gained 109.93% of their value over the last 52 weeks. On April 22, 2025, Spotify Technology S.A. (NYSE:SPOT) stock closed at $590.39 per share with a market capitalization of $120.857 billion. JDP Capital Management stated the following regarding Spotify Technology S.A. (NYSE:SPOT) in its Q1 2025 investor letter: "Spotify Technology S.A. (NYSE:SPOT) - Spotify remains our largest position. In the fourth quarter the company's free cash flow was up 123% over last year resulting from strong operating leverage that the market had not priced in the valuation. Spotify ended 2024 with 675 million subscribers between paid and ad supported. Spotify and YouTube are the primary beneficiaries of the mega trend shift from linear media to podcasting. A person wearing headphones listening to an audio streaming service. Spotify Technology S.A. (NYSE:SPOT) is in 25th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 101 hedge fund portfolios held Spotify Technology S.A. (NYSE:SPOT) at the end of the fourth quarter compared to 98 in the third quarter. While we acknowledge the potential of Spotify Technology S.A. (NYSE:SPOT) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. In another article, we covered Spotify Technology S.A. (NYSE:SPOT) and shared the list of stocks that could 10X over the next 2 years. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
01-04-2025
- Business
- Yahoo
Here's Why JDP Capital Management is Excited About ENDI Corp (ENDI)
JDP Capital Management, an investment management company, released its fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. 2024 proved to be an excellent year for the market and an even more impressive one for the fund. In the fourth quarter, the fund generated a gain of 10.4%, resulting in a total return of 47.9% for the year, net of fees for investors. In comparison, the S&P 500 recorded a 2.4% increase in the fourth quarter and a 25% rise for the entire year, assuming dividends were reinvested back into the index. For more information on the fund's best picks in 2024, please check its top five holdings. In its fourth quarter 2024 investor letter, JDP Capital Management emphasized stocks such as CrossingBridge Advisors, LLC (OTC:ENDI). CrossingBridge Advisors, LLC (OTC:ENDI) is an investment manager that offers services to investment companies. The one-month return of CrossingBridge Advisors, LLC (OTC:ENDI) was -0.78%, and its shares gained 160.78% of their value over the last 52 weeks. On March 31, 2025, CrossingBridge Advisors, LLC (OTC:ENDI) stock closed at $12.70 per share with a market capitalization of $66.935 million. JDP Capital Management stated the following regarding CrossingBridge Advisors, LLC (OTC:ENDI) in its Q4 2024 investor letter: We have a basket of small positions in stocks with very asymmetric upside potential if they work out. The companies are small, often unknown, and purchased on a deep value basis because execution risk is high. Our last big win from this group was Indivior PLC which was a multi-bagger we exited in 2022. An experienced asset manager studying financial documents intently in their office. CrossingBridge Advisors, LLC (OTC:ENDI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. While we acknowledge the potential of CrossingBridge Advisors, LLC (OTC:ENDI) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. In addition, please check out our hedge fund investor letters Q4 2024 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
