Capital Fund Management S.A. purchased a new position in Boyd Gaming Corp. (NYSE:BYD) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 141,938 shares of the company’s stock, valued at approximately $2,612,000.
Other hedge funds have also made changes to their positions in the company. First Republic Investment Management Inc. acquired a new stake in shares of Boyd Gaming Corp. during the first quarter worth approximately $109,697,000. AXA raised its stake in shares of Boyd Gaming Corp. by 1,220.5% in the first quarter. AXA now owns 51,500 shares of the company’s stock worth $1,064,000 after buying an additional 47,600 shares during the last quarter. A.R.T. Advisors LLC raised its stake in shares of Boyd Gaming Corp. by 93.0% in the first quarter. A.R.T. Advisors LLC now owns 186,594 shares of the company’s stock worth $3,855,000 after buying an additional 89,900 shares during the last quarter. Brigade Capital Management LP raised its stake in shares of Boyd Gaming Corp. by 15,900.0% in the first quarter. Brigade Capital Management LP now owns 800,000 shares of the company’s stock worth $16,528,000 after buying an additional 795,000 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of Boyd Gaming Corp. by 81.4% in the first quarter. BlackRock Inc. now owns 5,589 shares of the company’s stock worth $115,000 after buying an additional 2,508 shares during the last quarter. 73.64% of the stock is owned by institutional investors.
Boyd Gaming Corp. (NYSE:BYD) traded up 0.92% during midday trading on Wednesday, reaching $19.77. The company had a trading volume of 1,542,604 shares. Boyd Gaming Corp. has a 1-year low of $14.22 and a 1-year high of $21.43. The firm has a 50-day moving average of $19.41 and a 200 day moving average of $19.35. The company has a market capitalization of $2.22 billion, a P/E ratio of 27.57 and a beta of 1.86.
Boyd Gaming Corp. (NYSE:BYD) last issued its earnings results on Wednesday, August 3rd. The company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.14. Boyd Gaming Corp. had a return on equity of 18.90% and a net margin of 3.74%. The firm earned $544.90 million during the quarter, compared to analysts’ expectations of $561.27 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. Boyd Gaming Corp.’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts forecast that Boyd Gaming Corp. will post $0.80 EPS for the current year.
BYD has been the subject of a number of research analyst reports. Deutsche Bank AG reaffirmed a “buy” rating on shares of Boyd Gaming Corp. in a research note on Thursday, June 16th. Zacks Investment Research raised Boyd Gaming Corp. from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Wednesday, July 6th. Imperial Capital reaffirmed an “outperform” rating and issued a $26.00 price target on shares of Boyd Gaming Corp. in a research note on Wednesday, June 8th. Finally, Telsey Advisory Group dropped their price target on Boyd Gaming Corp. from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, August 4th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $22.25.
In related news, insider Marianne Boyd Johnson sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $19.26, for a total transaction of $192,600.00. Following the completion of the sale, the insider now directly owns 187,229 shares in the company, valued at approximately $3,606,030.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William S. Boyd sold 76,531 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $19.75, for a total value of $1,511,487.25. Following the sale, the insider now owns 184,386 shares of the company’s stock, valued at $3,641,623.50. The disclosure for this sale can be found here. Corporate insiders own 29.67% of the company’s stock.
About Boyd Gaming Corp.
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operates through five segments: Las Vegas Locals; Downtown Las Vegas; Midwest and South; Peninsula, and Borgata. The Las Vegas Locals Properties segment consists of Gold Coast Hotel and Casino, The Orleans Hotel and Casino, Sam’s Town Hotel and Gambling Hall, Suncoast Hotel and Casino, and Eldorado Casino and Jokers Wild Casino.
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