Prudential Financial Inc. reduced its position in Boyd Gaming Corp. (NYSE:BYD) by 6.0% during the second quarter, Holdings Channel reports. The fund owned 223,893 shares of the company’s stock after selling 14,366 shares during the period. Prudential Financial Inc. owned about 0.20% of Boyd Gaming Corp. worth $4,120,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased 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. Teacher Retirement System of Texas increased its position in Boyd Gaming Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 11,646 shares of the company’s stock worth $214,000 after buying an additional 1,410 shares during the last quarter. Scout Investments Inc. purchased a new position in Boyd Gaming Corp. during the second quarter worth about $249,000. Quadrature Capital Ltd purchased a new position in Boyd Gaming Corp. during the first quarter worth about $300,000. Finally, Royal Bank of Canada increased its position in Boyd Gaming Corp. by 51.0% in the first quarter. Royal Bank of Canada now owns 17,503 shares of the company’s stock worth $362,000 after buying an additional 5,908 shares during the last quarter. Institutional investors and hedge funds own 73.63% of the company’s stock.
Shares of Boyd Gaming Corp. (NYSE:BYD) opened at 19.00 on Tuesday. The firm has a 50-day moving average price of $19.28 and a 200 day moving average price of $19.31. Boyd Gaming Corp. has a one year low of $14.22 and a one year high of $21.43. The firm has a market cap of $2.13 billion, a P/E ratio of 26.50 and a beta of 1.86.
Boyd Gaming Corp. (NYSE:BYD) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.14. The company had revenue of $544.90 million for the quarter, compared to analysts’ expectations 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 was down 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 earnings per share. On average, analysts forecast that Boyd Gaming Corp. will post $0.80 earnings per share for the current fiscal year.
A number of research firms have recently issued reports on BYD. Gabelli reissued a “buy” rating and set a $28.00 price target on shares of Boyd Gaming Corp. in a research report on Monday. Zacks Investment Research raised Boyd Gaming Corp. from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Tuesday, October 4th. Telsey Advisory Group dropped their price target on Boyd Gaming Corp. from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, August 4th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Boyd Gaming Corp. in a research report on Sunday, June 26th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Boyd Gaming Corp. currently has a consensus rating of “Buy” and a consensus price target of $22.92.
In other news, insider William S. Boyd sold 76,531 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $19.75, for a total transaction of $1,511,487.25. Following the completion of the transaction, the insider now directly owns 184,386 shares of the company’s stock, valued at approximately $3,641,623.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Marianne Boyd Johnson sold 89,360 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 276,589 shares of the company’s stock, valued at $5,484,759.87. The disclosure for this sale can be found here. Company insiders own 29.67% of the company’s stock.
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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