Arrowstreet Capital Limited Partnership Raises Holdings in Boyd Gaming Corporation $BYD

Arrowstreet Capital Limited Partnership grew its holdings in Boyd Gaming Corporation (NYSE:BYD) by 3.1% in the second quarter, Holdings Channel reports. The firm owned 1,324,668 shares of the company’s stock after buying an additional 39,905 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Boyd Gaming were worth $103,629,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. M&T Bank Corp purchased a new stake in shares of Boyd Gaming during the second quarter valued at $229,000. Edgestream Partners L.P. lifted its stake in Boyd Gaming by 59.7% during the 2nd quarter. Edgestream Partners L.P. now owns 18,594 shares of the company’s stock valued at $1,455,000 after acquiring an additional 6,954 shares during the period. Panagora Asset Management Inc. purchased a new stake in shares of Boyd Gaming during the 2nd quarter valued at about $224,000. Norges Bank bought a new stake in shares of Boyd Gaming in the second quarter worth approximately $54,933,000. Finally, Choreo LLC grew its stake in shares of Boyd Gaming by 13.0% in the second quarter. Choreo LLC now owns 34,079 shares of the company’s stock worth $2,672,000 after acquiring an additional 3,915 shares during the period. 76.81% of the stock is owned by institutional investors.

Boyd Gaming Price Performance

Shares of Boyd Gaming stock opened at $82.57 on Thursday. The stock has a market cap of $6.45 billion, a P/E ratio of 3.61, a P/E/G ratio of 2.20 and a beta of 1.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.49 and a current ratio of 0.51. The stock’s fifty day moving average is $81.98 and its 200 day moving average is $81.32. Boyd Gaming Corporation has a one year low of $58.94 and a one year high of $88.49.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share (EPS) for the quarter. The business had revenue of $707.32 million during the quarter. Boyd Gaming had a return on equity of 34.63% and a net margin of 46.02%. Sell-side analysts anticipate that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on BYD. Morgan Stanley increased their price objective on shares of Boyd Gaming from $84.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. Mizuho increased their price target on Boyd Gaming from $89.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Zacks Research lowered Boyd Gaming from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Citigroup assumed coverage on Boyd Gaming in a report on Thursday, November 20th. They issued a “neutral” rating and a $86.00 target price on the stock. Finally, Raymond James Financial reissued an “outperform” rating on shares of Boyd Gaming in a research report on Monday, September 8th. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $89.54.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, Director William R. Boyd sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the sale, the director owned 1,960,447 shares in the company, valued at approximately $157,541,520.92. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 21.97% of the company’s stock.

Boyd Gaming Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.