ClariVest Asset Management LLC increased its stake in Boyd Gaming Corp. (NYSE:BYD) by 15.5% during the second quarter, Holdings Channel reports. The fund owned 200,890 shares of the company’s stock after buying an additional 26,900 shares during the period. ClariVest Asset Management LLC’s holdings in Boyd Gaming Corp. were worth $3,698,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. First Republic Investment Management Inc. bought a new stake in Boyd Gaming Corp. during the first quarter valued at $109,697,000. AXA increased its stake in Boyd Gaming Corp. by 1,220.5% in the first quarter. AXA now owns 51,500 shares of the company’s stock valued at $1,064,000 after buying an additional 47,600 shares during the last quarter. A.R.T. Advisors LLC increased its stake in 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 valued at $3,855,000 after buying an additional 89,900 shares during the last quarter. Brigade Capital Management LP increased its stake in 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 valued at $16,528,000 after buying an additional 795,000 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Boyd Gaming Corp. by 81.4% in the first quarter. BlackRock Inc. now owns 5,589 shares of the company’s stock valued at $115,000 after buying an additional 2,508 shares during the last quarter. 73.64% of the stock is owned by institutional investors.
Shares of Boyd Gaming Corp. (NYSE:BYD) traded down 1.72% during mid-day trading on Friday, hitting $19.44. 619,795 shares of the stock were exchanged. The company’s 50-day moving average is $19.41 and its 200-day moving average is $19.36. Boyd Gaming Corp. has a 1-year low of $14.22 and a 1-year high of $21.43. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 27.11 and a beta of 1.86.
Boyd Gaming Corp. (NYSE:BYD) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by $0.14. Boyd Gaming Corp. had a net margin of 3.74% and a return on equity of 18.90%. The company earned $544.90 million during the quarter, compared to the consensus estimate of $561.27 million. During the same period last year, the company earned $0.24 earnings per share. Boyd Gaming Corp.’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities research analysts anticipate that Boyd Gaming Corp. will post $0.80 earnings per share for the current fiscal year.
BYD has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Boyd Gaming Corp. from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Tuesday, October 4th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Boyd Gaming Corp. in a research report on Thursday, June 16th. Finally, Telsey Advisory Group lowered their price objective on shares of Boyd Gaming Corp. from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, August 4th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $22.25.
In other news, insider William S. Boyd sold 76,531 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $19.75, for a total value of $1,511,487.25. Following the completion of the transaction, the insider now owns 184,386 shares in the company, valued at approximately $3,641,623.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Marianne Boyd Johnson sold 89,360 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $19.83, for a total transaction of $1,772,008.80. Following the completion of the transaction, the executive vice president now owns 276,589 shares of the company’s stock, valued at approximately $5,484,759.87. The disclosure for this sale can be found here. 29.67% of the stock is currently owned by insiders.
Boyd Gaming Corp. Company Profile
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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