Chartwell Investment Partners LLC lessened its holdings in Boyd Gaming Co. (NYSE:BYD) by 27.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,447 shares of the company’s stock after selling 33,882 shares during the period. Chartwell Investment Partners LLC owned approximately 0.08% of Boyd Gaming worth $2,960,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Boyd Gaming by 7.7% in the 2nd quarter. BlackRock Inc. now owns 9,407,833 shares of the company’s stock valued at $326,077,000 after purchasing an additional 670,588 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of Boyd Gaming in the 2nd quarter valued at $570,000. Schwab Charles Investment Management Inc. lifted its stake in shares of Boyd Gaming by 5.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 565,136 shares of the company’s stock valued at $19,588,000 after purchasing an additional 30,031 shares during the last quarter. Martingale Asset Management L P acquired a new position in shares of Boyd Gaming in the 2nd quarter valued at $927,000. Finally, Bank of America Corp DE lifted its stake in shares of Boyd Gaming by 142.1% in the 2nd quarter. Bank of America Corp DE now owns 1,344,703 shares of the company’s stock valued at $46,608,000 after purchasing an additional 789,296 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.
BYD opened at $23.75 on Tuesday. Boyd Gaming Co. has a 12-month low of $23.53 and a 12-month high of $40.44. The company has a current ratio of 1.37, a quick ratio of 1.33 and a debt-to-equity ratio of 3.09. The stock has a market cap of $2.79 billion, a P/E ratio of 23.06, a PEG ratio of 1.24 and a beta of 1.98.
Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, October 25th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. Boyd Gaming had a return on equity of 12.53% and a net margin of 7.19%. The firm had revenue of $612.20 million for the quarter, compared to analyst estimates of $607.60 million. Equities analysts forecast that Boyd Gaming Co. will post 1.34 earnings per share for the current year.
Several equities analysts have recently commented on the company. ValuEngine lowered Boyd Gaming from a “hold” rating to a “sell” rating in a research note on Monday, November 12th. Zacks Investment Research reissued a “hold” rating and set a $28.00 target price on shares of Boyd Gaming in a research note on Monday, November 12th. Barclays decreased their target price on Boyd Gaming from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Thursday, November 1st. Morgan Stanley set a $35.00 target price on Boyd Gaming and gave the stock a “hold” rating in a research note on Friday, October 26th. Finally, Telsey Advisory Group decreased their target price on Boyd Gaming from $35.00 to $31.00 and set a “market perform” rating on the stock in a research note on Friday, October 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $38.67.
In other Boyd Gaming news, insider Marianne Boyd Johnson sold 2,907 shares of the stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $37.01, for a total value of $107,588.07. Following the sale, the insider now owns 231,173 shares of the company’s stock, valued at approximately $8,555,712.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William R. Boyd sold 7,000 shares of the stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $37.00, for a total value of $259,000.00. Following the completion of the sale, the vice president now directly owns 21,903 shares in the company, valued at approximately $810,411. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,000 shares of company stock worth $2,428,514. 28.88% of the stock is owned by corporate insiders.
Boyd Gaming Company Profile
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South. As of October 15, 2018, the company operated 29 gaming entertainment properties offering a total of 1.76 million square feet of casino space, approximately 38,000 gaming machines, 900 table games, 11,000 hotel rooms, and 320 food and beverage outlets located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.
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