5 Best Gambling Stocks To Buy Now

4. Boyd Gaming Corporation (NYSE:BYD)

Number of Hedge Fund Holders: 36

Founded in 1975, Boyd Gaming Corporation (NYSE:BYD) is considered one of the biggest entertainment companies in the United States. The company operates 28 casino properties across 10 different states. It is also involved in operating online casino businesses.

On October 26, 2022, Joseph Stauff, an analyst at Susquehanna, increased his target price to $72 on the company’s stock. The analyst currently has a Positive rating on Boyd Gaming Corporation (NYSE:BYD) and believes that the company is currently trading at an appealing valuation given its ability to generate stable cash flow.

As per Insider’s Monkey database, 36 hedge funds owned stakes in the company at the end of the third quarter.

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.