Pinebridge Investments L.P. grew its holdings in shares of Boyd Gaming Corporation (NYSE:BYD) by 12.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91,213 shares of the company’s stock after acquiring an additional 10,052 shares during the quarter. Pinebridge Investments L.P. owned 0.08% of Boyd Gaming worth $2,376,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC increased its stake in shares of Boyd Gaming by 531.0% in the second quarter. FMR LLC now owns 1,418,700 shares of the company’s stock valued at $35,199,000 after buying an additional 1,193,874 shares during the period. Westfield Capital Management Co. LP acquired a new position in shares of Boyd Gaming in the second quarter valued at approximately $26,973,000. Bamco Inc. NY increased its stake in shares of Boyd Gaming by 94.8% in the second quarter. Bamco Inc. NY now owns 1,384,937 shares of the company’s stock valued at $34,360,000 after buying an additional 674,100 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of Boyd Gaming in the third quarter valued at approximately $11,723,000. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Boyd Gaming in the second quarter valued at approximately $9,065,000. 76.26% of the stock is owned by hedge funds and other institutional investors.
Boyd Gaming Corporation (NYSE BYD) opened at $32.07 on Wednesday. Boyd Gaming Corporation has a twelve month low of $19.19 and a twelve month high of $33.02. The company has a debt-to-equity ratio of 2.95, a current ratio of 0.73 and a quick ratio of 0.68. The stock has a market capitalization of $3,603.64, a price-to-earnings ratio of 27.15 and a beta of 1.81.
Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, October 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Boyd Gaming had a return on equity of 13.82% and a net margin of 5.08%. The firm had revenue of $587.70 million during the quarter, compared to the consensus estimate of $592.29 million. During the same quarter in the prior year, the business earned $0.14 earnings per share. Boyd Gaming’s revenue for the quarter was up 10.5% on a year-over-year basis. analysts predict that Boyd Gaming Corporation will post 1.05 earnings per share for the current year.
In other Boyd Gaming news, VP William R. Boyd sold 7,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $26.71, for a total transaction of $186,970.00. Following the transaction, the vice president now directly owns 1,251 shares in the company, valued at approximately $33,414.21. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert L. Boughner sold 40,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $26.70, for a total value of $1,068,000.00. Following the transaction, the director now owns 40,000 shares in the company, valued at $1,068,000. The disclosure for this sale can be found here. 29.16% of the stock is owned by company insiders.
Several research analysts have recently issued reports on the company. ValuEngine downgraded Boyd Gaming from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research raised shares of Boyd Gaming from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Stifel Nicolaus increased their target price on shares of Boyd Gaming from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Friday, October 27th. SunTrust Banks reissued a “buy” rating and set a $27.00 target price on shares of Boyd Gaming in a research report on Tuesday, October 24th. Finally, Morgan Stanley set a $28.00 target price on shares of Boyd Gaming and gave the company a “hold” rating in a research report on Tuesday, October 24th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $27.47.
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Boyd Gaming Company Profile
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
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