This Fund Sold $39 Million of Boyd Gaming Stock While Exiting MGM and Downsizing United Parks Bets
A deep-value fund just disclosed unwinding three major leisure positions last quarter—raising real questions about where it sees mispricing and where it no longer does.New York City-based HG Vora Capital Management fully exited its position in Boyd Gaming Corporation (BYD 1.27%), reducing its exposure to the stock by an estimated $39.1 million in the third quarter, according to an SEC filing on Friday.What HappenedHG Vora Capital Management liquidated its entire stake in Boyd Gaming Corporation (BYD 1.27%), selling 500,000 shares during the third quarter. The transaction, estimated at $39.1 million based on quarterly average pricing, was disclosed in a Form 13-F filed with the Securities and Exchange Commission (SEC) on Friday. The fund reported no remaining shares in the company at the cl...










