5 Best Casino Stocks To Buy Now

4. Boyd Gaming Corporation (NYSE:BYD)

Number of Hedge Fund Holders: 35     

Boyd Gaming Corporation (NYSE:BYD), together with its subsidiaries, operates as a multi-jurisdictional gaming company. The firm features on the list of best casino stocks to invest in. On July 26, the firm posted earnings for the second quarter of 2022, reporting earnings per share of $1.48, beating estimates by $0.09. The revenue over the period was $894 million, up over 0.1% compared to the revenue over the same period last year. The company is based in Las Vegas and was founded in 1975. 

On September 23, investment advisory JMP Securities initiated coverage of Boyd Gaming Corporation (NASDAQ:BYD) stock with an Outperform rating and a $65 price target. Analyst Jordan Bender issued the ratings update. 

At the end of the second quarter of 2022, 35 hedge funds in the database of Insider Monkey held stakes worth $898 million in Boyd Gaming Corporation (NYSE:BYD), compared to 40 in the previous quarter worth $1 billion.

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Boyd Gaming Corporation (NYSE:BYD) was one of them. Here is what the fund said:

“Boyd Gaming Corporation (NYSE:BYD) is one of the largest and most successful casino entertainment companies in the U.S. The company owns and operates 28 casino gaming properties in 10 states with a large presence in Las Vegas. Business conditions have been strong, yet the shares are valued at only 6 times 2022 estimated cash flow versus a long-term average of more than 9 times cash flow. The company maintains a strong and liquid balance sheet. Insiders own approximately 27% of the company. We believe Boyd is a compelling acquisition target.”