Goldentree Asset Management LP Invests $11.49 Million in Boyd Gaming Co. (NYSE:BYD)

Goldentree Asset Management LP bought a new stake in shares of Boyd Gaming Co. (NYSE:BYD) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 177,724 shares of the company’s stock, valued at approximately $11,490,000. Boyd Gaming accounts for 0.9% of Goldentree Asset Management LP’s holdings, making the stock its 28th biggest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ariel Investments LLC grew its position in shares of Boyd Gaming by 12.5% during the 2nd quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock valued at $167,046,000 after acquiring an additional 335,984 shares during the period. Boston Partners grew its holdings in Boyd Gaming by 10.0% during the first quarter. Boston Partners now owns 3,031,091 shares of the company’s stock valued at $203,276,000 after purchasing an additional 274,876 shares during the period. American Century Companies Inc. increased its position in Boyd Gaming by 19.7% in the second quarter. American Century Companies Inc. now owns 1,149,701 shares of the company’s stock worth $63,349,000 after buying an additional 189,226 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Boyd Gaming by 5.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 971,921 shares of the company’s stock worth $62,835,000 after buying an additional 54,128 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of Boyd Gaming by 6,158.8% during the 3rd quarter. Victory Capital Management Inc. now owns 908,905 shares of the company’s stock valued at $58,761,000 after buying an additional 894,383 shares in the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, Director William R. Boyd sold 25,155 shares of Boyd Gaming stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $69.35, for a total transaction of $1,744,499.25. Following the completion of the transaction, the director now directly owns 1,487,970 shares of the company’s stock, valued at $103,190,719.50. The trade was a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Keith Smith sold 30,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $72.15, for a total transaction of $2,164,500.00. Following the transaction, the chief executive officer now owns 1,101,202 shares in the company, valued at $79,451,724.30. This trade represents a 2.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,704 shares of company stock worth $10,540,944 in the last three months. Insiders own 27.94% of the company’s stock.

Boyd Gaming Trading Up 0.1 %

Shares of BYD opened at $73.10 on Friday. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $74.78. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The company’s fifty day moving average is $67.82 and its 200 day moving average is $60.45. The stock has a market capitalization of $6.46 billion, a PE ratio of 13.95, a P/E/G ratio of 9.59 and a beta of 1.55.

Analyst Upgrades and Downgrades

BYD has been the topic of a number of recent analyst reports. Barclays raised their target price on shares of Boyd Gaming from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Bank of America upped their target price on shares of Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Mizuho reissued an “outperform” rating and set a $79.00 price target (up from $78.00) on shares of Boyd Gaming in a report on Friday, October 25th. Morgan Stanley upped their price objective on Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus boosted their price target on Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.38.

About Boyd Gaming

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. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.