5 Best Las Vegas Stocks To Buy Now

3. Boyd Gaming Corporation (NYSE:BYD)

Number of Hedge Fund Holders: 40

Boyd Gaming Corporation (NYSE:BYD) is a gaming and entertainment property owner that is headquartered in Las Vegas, Nevada, United States. The firm owns casinos and a travel agency.

Boyd Gaming Corporation (NYSE:BYD) is expected to grow its revenues to $3.6 billion this year and to $3.7 billion next year, as its skillful navigation of the post coronavirus environment continues to yield results. The company also has a 3.6% three year CAGR revenue growth to date, indicating that it was on an upward trajectory even before the pandemic hit. Additionally, it also pays a 15 cent dividend for a 1.09% yield.

Insider Monkey’s 912 hedge fund survey for this year’s Q1 outlined that 40 had bought the company’s shares.

Out of these, Parag Vora’s HG Vora Capital Management is Boyd Gaming Corporation (NYSE:BYD)’s largest investor through a $246 million stake that comes through 3.7 million shares.

In its Q1 2022 investor letter, Baron Funds mentioned the company and shared that:

“Following strong share price performance in 2021, the shares of Boyd Gaming Corporation continued to perform well in the first quarter of 2022. Boyd 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 and a geographic focus on the drive-to, leisure gaming customer. We remain optimistic about the prospects for Boyd’s shares because business conditions are strong, management maintains a liquid and conservatively capitalized balance sheet, insiders own approximately 27% of the company, the shares remain attractively valued at only 7.5 times 2022 estimated cash flow and a double-digit free cash flow yield, and we believe the company could be an attractive acquisition candidate should its current valuation remain discounted relative to recent private market casino and gaming transactions.”