Emerald Acquisition Ltd. purchased a new position in Boyd Gaming Corp. (NYSE:BYD) during the second quarter, Holdings Channel reports. The fund purchased 47,459 shares of the company’s stock, valued at approximately $874,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of BYD. First Republic Investment Management Inc. bought a new position in Boyd Gaming Corp. during the first quarter worth approximately $109,697,000. AXA boosted its position in 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 boosted its position 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 worth $3,855,000 after buying an additional 89,900 shares during the last quarter. Brigade Capital Management LP boosted its position 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 worth $16,528,000 after buying an additional 795,000 shares during the last quarter. Finally, BlackRock Inc. boosted its position in 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. Hedge funds and other institutional investors own 73.64% of the company’s stock.
Boyd Gaming Corp. (NYSE:BYD) traded up 0.36% during mid-day trading on Wednesday, hitting $19.41. 157,591 shares of the stock were exchanged. The firm has a market cap of $2.18 billion, a P/E ratio of 27.07 and a beta of 1.86. The company has a 50 day moving average of $19.39 and a 200 day moving average of $19.35. Boyd Gaming Corp. has a 12-month low of $14.22 and a 12-month high of $21.43.
Boyd Gaming Corp. (NYSE:BYD) last posted 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. The firm earned $544.90 million during the quarter, compared to analyst estimates of $561.27 million. Boyd Gaming Corp. had a net margin of 3.74% and a return on equity of 18.90%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the company posted $0.24 EPS. On average, equities analysts anticipate that Boyd Gaming Corp. will post $0.80 earnings per share for the current fiscal year.
A number of research analysts have recently commented on BYD shares. Zacks Investment Research upgraded shares of Boyd Gaming Corp. from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Tuesday, October 4th. Deutsche Bank AG restated a “buy” rating on shares of Boyd Gaming Corp. in a report on Thursday, June 16th. Finally, Telsey Advisory Group cut their price target on shares of Boyd Gaming Corp. from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, August 4th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $22.25.
In other Boyd Gaming Corp. news, EVP Marianne Boyd Johnson sold 89,360 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $19.83, for a total value of $1,772,008.80. Following the sale, the executive vice president now owns 276,589 shares of the company’s stock, valued at $5,484,759.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert L. Boughner sold 50,000 shares of the company’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $19.81, for a total value of $990,500.00. Following the completion of the sale, the insider now directly owns 144,560 shares in the company, valued at approximately $2,863,733.60. The disclosure for this sale can be found here. 29.67% of the stock is owned by company 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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