5 Best Las Vegas Stocks To Buy Now

2. MGM Resorts International (NYSE:MGM)

Number of Hedge Fund Holders: 59

MGM Resorts International (NYSE:MGM) is a casino and entertainment resort owner and operator in the United States and Macau. The company has more than two dozen hotel and gaming destinations globally and it is headquartered in Las Vegas, Nevada, U.S.A.

MGM Resorts International (NYSE:MGM) is poised to become the largest gaming company in the world, with its management expecting to grow its market share to 25% by the end of this year. Its BetMGM platform ranks in the top five platforms in the U.S. and it expects revenue from the segment to touch $1.2 billion in 2022.

Wells Fargo raised MGM Resorts International (NYSE:MGM)’s share price target to $58 from $49 in August 2022 sharing that strong performance from its Las Vegas properties had helped second quarter earnings. Out of the 912 hedge funds part of Insider Monkey’s Q1 2022 study, 59 had held a stake in the company.

MGM Resorts International (NYSE:MGM)’s largest investor is William B. Gray’s Orbis Investment Management which owns 6.9 million shares that are worth $293 million.

Baron Funds mentioned the company in its Q1 2022 investor letter and stated:

“At this stage, we believe several public real estate companies offer compelling long-term return prospects that, in some cases, may include a trifecta combination of growth, dividends, and an improvement in valuation. Examples of public real estate companies that are attractively valued includes: MGM Resorts International. Leading global casino and entertainment company. At its recent price of $40 per share, we believe the company is valued at a significant discount to our reasonable $60 per share estimate of the sum-of-the-parts value of its business.”