Bank of New York Mellon Corp Decreases Stake in Boyd Gaming Co. (BYD)

Bank of New York Mellon Corp cut its holdings in Boyd Gaming Co. (NYSE:BYD) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 969,404 shares of the company’s stock after selling 10,731 shares during the period. Bank of New York Mellon Corp owned about 0.86% of Boyd Gaming worth $33,601,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Amalgamated Bank boosted its holdings in shares of Boyd Gaming by 11.5% in the 2nd quarter. Amalgamated Bank now owns 13,302 shares of the company’s stock valued at $461,000 after buying an additional 1,374 shares during the period. Buckley Wealth Management LLC boosted its stake in Boyd Gaming by 7.6% during the 2nd quarter. Buckley Wealth Management LLC now owns 21,188 shares of the company’s stock valued at $734,000 after purchasing an additional 1,500 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in Boyd Gaming by 13.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 14,813 shares of the company’s stock valued at $472,000 after purchasing an additional 1,771 shares during the period. LS Investment Advisors LLC boosted its stake in Boyd Gaming by 100.9% during the 1st quarter. LS Investment Advisors LLC now owns 4,453 shares of the company’s stock valued at $142,000 after purchasing an additional 2,237 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in Boyd Gaming by 41.1% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,344 shares of the company’s stock valued at $298,000 after purchasing an additional 2,721 shares during the period. 72.53% of the stock is owned by institutional investors and hedge funds.

BYD has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Monday, July 16th. Jefferies Financial Group raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Tuesday, August 14th. JPMorgan Chase & Co. boosted their target price on shares of Boyd Gaming from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. ValuEngine lowered shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 8th. Finally, Morgan Stanley boosted their target price on shares of Boyd Gaming from $35.00 to $37.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 26th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $40.75.

In other news, VP William R. Boyd sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $37.00, for a total value of $259,000.00. Following the completion of the sale, the vice president now directly owns 21,903 shares of the company’s stock, valued at approximately $810,411. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Marianne Boyd Johnson sold 2,907 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $37.01, for a total transaction of $107,588.07. Following the completion of the sale, the insider now directly owns 231,173 shares of the company’s stock, valued at $8,555,712.73. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,000 shares of company stock valued at $2,428,514. Company insiders own 28.88% of the company’s stock.

Boyd Gaming stock opened at $32.84 on Friday. The company has a quick ratio of 1.99, a current ratio of 2.03 and a debt-to-equity ratio of 3.05. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 1.69 and a beta of 1.62. Boyd Gaming Co. has a 52-week low of $24.52 and a 52-week high of $40.44.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, July 26th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $616.80 million during the quarter, compared to analyst estimates of $608.94 million. Boyd Gaming had a net margin of 7.72% and a return on equity of 12.73%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 EPS. equities analysts forecast that Boyd Gaming Co. will post 1.3 EPS for the current fiscal year.

About Boyd Gaming

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.

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Institutional Ownership by Quarter for Boyd Gaming (NYSE:BYD)

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