Hancock Whitney Corp lowered its stake in shares of Boyd Gaming Co. (NYSE:BYD) by 28.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 239,199 shares of the company’s stock after selling 96,218 shares during the quarter. Hancock Whitney Corp’s holdings in Boyd Gaming were worth $3,449,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. C M Bidwell & Associates Ltd. bought a new position in Boyd Gaming during the fourth quarter worth $47,000. CWM LLC increased its position in Boyd Gaming by 7,865.9% during the first quarter. CWM LLC now owns 3,266 shares of the company’s stock worth $47,000 after acquiring an additional 3,225 shares during the period. NEXT Financial Group Inc boosted its stake in Boyd Gaming by 34.1% during the first quarter. NEXT Financial Group Inc now owns 3,346 shares of the company’s stock worth $48,000 after buying an additional 850 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Boyd Gaming by 89.2% during the first quarter. PNC Financial Services Group Inc. now owns 4,341 shares of the company’s stock worth $63,000 after buying an additional 2,046 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its stake in Boyd Gaming by 18.3% during the first quarter. Valeo Financial Advisors LLC now owns 4,850 shares of the company’s stock worth $75,000 after buying an additional 750 shares in the last quarter. 66.70% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on BYD. Union Gaming Research downgraded shares of Boyd Gaming from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a research note on Wednesday, April 29th. TheStreet downgraded shares of Boyd Gaming from a “c” rating to a “d+” rating in a research note on Friday, May 15th. Morgan Stanley decreased their price target on shares of Boyd Gaming from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. JPMorgan Chase & Co. decreased their price target on shares of Boyd Gaming from $39.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Finally, Susquehanna Bancshares upgraded shares of Boyd Gaming from a “neutral” rating to a “positive” rating and set a $22.00 price target on the stock in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. Boyd Gaming presently has a consensus rating of “Buy” and an average price target of $26.00.
Shares of NYSE:BYD opened at $19.30 on Friday. The company’s fifty day moving average is $15.38 and its 200-day moving average is $24.44. The company has a market capitalization of $2.15 billion, a PE ratio of 23.25 and a beta of 2.27. The company has a debt-to-equity ratio of 4.67, a quick ratio of 1.88 and a current ratio of 1.92. Boyd Gaming Co. has a 52 week low of $6.44 and a 52 week high of $36.22.
Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Tuesday, April 28th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.30). The company had revenue of $680.53 million for the quarter, compared to analyst estimates of $664.46 million. Boyd Gaming had a return on equity of 12.60% and a net margin of 2.95%. The firm’s quarterly revenue was down 17.7% on a year-over-year basis. During the same quarter last year, the company earned $0.43 EPS. On average, analysts forecast that Boyd Gaming Co. will post -2.43 EPS for the current year.
In related news, Chairman William S. Boyd purchased 100,000 shares of Boyd Gaming stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average price of $16.07 per share, for a total transaction of $1,607,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP William R. Boyd purchased 1,500 shares of Boyd Gaming stock in a transaction that occurred on Wednesday, March 11th. The shares were bought at an average price of $19.70 per share, for a total transaction of $29,550.00. Following the transaction, the vice president now owns 45,289 shares in the company, valued at $892,193.30. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 101,750 shares of company stock worth $1,641,500. 29.08% 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 & South. As of March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.
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