Gabelli Funds LLC reduced its holdings in Boyd Gaming Co. (NYSE:BYD – Free Report) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 155,500 shares of the company’s stock after selling 3,800 shares during the quarter. Gabelli Funds LLC owned 0.16% of Boyd Gaming worth $10,787,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its stake in Boyd Gaming by 300.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 194,582 shares of the company’s stock valued at $13,498,000 after purchasing an additional 145,968 shares in the last quarter. BDO Wealth Advisors LLC raised its holdings in shares of Boyd Gaming by 21.7% during the second quarter. BDO Wealth Advisors LLC now owns 16,521 shares of the company’s stock worth $1,146,000 after acquiring an additional 2,942 shares in the last quarter. Shellback Capital LP raised its holdings in shares of Boyd Gaming by 11.4% during the first quarter. Shellback Capital LP now owns 489,500 shares of the company’s stock worth $31,387,000 after acquiring an additional 50,000 shares in the last quarter. Bank of Montreal Can bought a new position in Boyd Gaming during the second quarter valued at about $635,000. Finally, Federated Hermes Inc. raised its holdings in Boyd Gaming by 5.9% during the first quarter. Federated Hermes Inc. now owns 83,024 shares of the company’s stock valued at $5,323,000 after buying an additional 4,635 shares in the last quarter. 67.98% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the company. Argus raised their price target on Boyd Gaming from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, July 31st. StockNews.com started coverage on shares of Boyd Gaming in a research note on Thursday, October 5th. They issued a “buy” rating for the company. Morgan Stanley cut their target price on shares of Boyd Gaming from $72.00 to $67.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 25th. Susquehanna dropped their price objective on shares of Boyd Gaming from $87.00 to $84.00 and set a “positive” rating for the company in a research report on Tuesday, October 24th. Finally, Barclays lowered their target price on shares of Boyd Gaming from $77.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, October 25th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Boyd Gaming currently has a consensus rating of “Moderate Buy” and an average target price of $76.82.
Boyd Gaming Price Performance
Shares of NYSE BYD opened at $58.85 on Tuesday. The firm has a market cap of $5.76 billion, a PE ratio of 8.67, a PEG ratio of 3.81 and a beta of 1.73. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.62. Boyd Gaming Co. has a 1-year low of $52.42 and a 1-year high of $73.00. The company has a fifty day moving average price of $59.38 and a 200 day moving average price of $64.76.
Boyd Gaming (NYSE:BYD – Get Free Report) last announced its quarterly earnings data on Tuesday, October 24th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.08). Boyd Gaming had a net margin of 18.89% and a return on equity of 38.87%. The company had revenue of $903.16 million during the quarter, compared to the consensus estimate of $873.36 million. Research analysts predict that Boyd Gaming Co. will post 6.11 earnings per share for the current fiscal year.
Boyd Gaming Profile
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South.
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