HG Vora Capital Management sold 500,000 shares of Boyd Gaming for $39.1 million in the third quarter, marking a full exit from the company. The move equaled 5.3% of their AUM at quarter-end. Boyd Gaming’s stock was priced at $79.78, up 9% in the past year, underperforming the S&P 500. HG Vora holds top positions in other stocks like PENN and CZR. Boyd Gaming reported mixed profitability results in their latest earnings, with a decline in adjusted EBITDAR and flat adjusted earnings. Despite being fundamentally solid, Boyd Gaming may struggle to attract deep-value capital until profitability stabilizes.

Read more at Nasdaq: This Fund Sold $39 Million of Boyd Gaming Stock While Exiting MGM and Downsizing United Parks Bets