BlueMountain Capital Management LLC raised its holdings in Boyd Gaming Co. (NYSE:BYD) by 111.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 124,091 shares of the company’s stock after buying an additional 65,281 shares during the quarter. BlueMountain Capital Management LLC owned about 0.11% of Boyd Gaming worth $4,301,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. First Mercantile Trust Co. purchased a new stake in Boyd Gaming in the first quarter valued at about $115,000. Contravisory Investment Management Inc. purchased a new stake in Boyd Gaming in the second quarter valued at about $151,000. LS Investment Advisors LLC raised its stake in Boyd Gaming by 100.9% in the first quarter. LS Investment Advisors LLC now owns 4,453 shares of the company’s stock valued at $142,000 after buying an additional 2,237 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in Boyd Gaming in the second quarter valued at about $169,000. Finally, Silvant Capital Management LLC purchased a new stake in Boyd Gaming in the first quarter valued at about $188,000. Institutional investors own 72.53% of the company’s stock.
A number of equities research analysts have commented on the company. Zacks Investment Research cut Boyd Gaming from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. JPMorgan Chase & Co. increased their price target on Boyd Gaming from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Morgan Stanley increased their price objective on Boyd Gaming from $35.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, June 26th. Jefferies Financial Group raised Boyd Gaming from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Tuesday, August 14th. Finally, ValuEngine lowered Boyd Gaming from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 8th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $40.75.
In related news, VP William R. Boyd sold 7,000 shares of the firm’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $37.00, for a total transaction of $259,000.00. Following the sale, the vice president now directly owns 21,903 shares of the company’s stock, valued at $810,411. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Marianne Boyd Johnson sold 2,907 shares of the firm’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $37.01, for a total value of $107,588.07. Following the sale, the insider now directly owns 231,173 shares in the company, valued at $8,555,712.73. The disclosure for this sale can be found here. Insiders sold 67,000 shares of company stock worth $2,428,514 over the last three months. Corporate insiders own 28.88% of the company’s stock.
Shares of BYD stock opened at $32.84 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 3.05. The stock has a market capitalization of $3.70 billion, a PE ratio of 27.25, a PEG ratio of 1.69 and a beta of 1.62. Boyd Gaming Co. has a fifty-two week low of $24.52 and a fifty-two week high of $40.44.
Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, July 26th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $616.80 million for the quarter, compared to analyst estimates of $608.94 million. Boyd Gaming had a return on equity of 12.73% and a net margin of 7.72%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 earnings per share. research analysts anticipate that Boyd Gaming Co. will post 1.3 EPS for the current year.
Boyd Gaming Profile
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South. As of December 31, 2017, the company owned and operated 24 gaming entertainment properties offering a total of 1,358,856 square feet of casino space, 30,267 slot machines, 632 table games, and 9,372 hotel rooms located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, and Mississippi.
See Also: Asset Allocation
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