Boyd Gaming Corp. (BYD) Sees Strong Trading Volume
Shares of Boyd Gaming Corp. (NYSE:BYD) saw unusually-high trading volume on Friday . Approximately 2,104,876 shares were traded during trading, an increase of 74% from the previous session’s volume of 1,210,533 shares.The stock last traded at $18.74 and had previously closed at $18.29.
BYD has been the topic of several research analyst reports. Zacks Investment Research cut shares of Boyd Gaming Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 19th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Boyd Gaming Corp. in a research note on Thursday, June 2nd. Janney Montgomery Scott raised shares of Boyd Gaming Corp. from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $21.00 to $25.00 in a research note on Tuesday, March 22nd. Wells Fargo & Co. reiterated a “market perform” rating on shares of Boyd Gaming Corp. in a research report on Friday, March 11th. Finally, Imperial Capital reiterated an “outperform” rating and set a $26.00 target price on shares of Boyd Gaming Corp. in a research report on Wednesday, June 8th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $21.79.
The stock has a market cap of $2.10 billion and a P/E ratio of 46.97. The firm has a 50 day moving average of $18.68 and a 200-day moving average of $18.60.
Boyd Gaming Corp. (NYSE:BYD) last released its earnings results on Tuesday, April 26th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.25 by $0.05. The firm earned $552.40 million during the quarter, compared to the consensus estimate of $563.81 million. During the same period in the prior year, the business earned $0.13 earnings per share. Boyd Gaming Corp.’s quarterly revenue was up .3% compared to the same quarter last year. Equities research analysts anticipate that Boyd Gaming Corp. will post $1.10 EPS for the current year.
In related news, Director Paul W. Whetsell purchased 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 2nd. The shares were bought at an average cost of $19.52 per share, with a total value of $146,400.00. Following the acquisition, the director now owns 7,500 shares of the company’s stock, valued at approximately $146,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Keith Smith sold 138,068 shares of Boyd Gaming Corp. stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $19.46, for a total transaction of $2,686,803.28. Following the sale, the chief executive officer now directly owns 953,403 shares in the company, valued at $18,553,222.38. The disclosure for this sale can be found here.
Several large investors recently made changes to their positions in the stock. Quantitative Investment Management LLC raised its stake in shares of Boyd Gaming Corp. by 50.7% in the fourth quarter. Quantitative Investment Management LLC now owns 51,400 shares of the company’s stock valued at $1,021,000 after buying an additional 17,300 shares during the period. Comerica Bank raised its stake in shares of Boyd Gaming Corp. by 0.3% in the fourth quarter. Comerica Bank now owns 68,208 shares of the company’s stock valued at $1,267,000 after buying an additional 222 shares during the period. Wells Fargo & Company MN raised its stake in shares of Boyd Gaming Corp. by 19.4% in the fourth quarter. Wells Fargo & Company MN now owns 68,861 shares of the company’s stock valued at $1,368,000 after buying an additional 11,182 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in shares of Boyd Gaming Corp. during the fourth quarter valued at about $1,374,000. Finally, GSA Capital Partners LLP raised its stake in shares of Boyd Gaming Corp. by 19.8% in the fourth quarter. GSA Capital Partners LLP now owns 84,092 shares of the company’s stock valued at $1,671,000 after buying an additional 13,873 shares during the period.
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operates 22 properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi and New Jersey. The Company owns and manages 1,268,345 square feet of casino space, containing 30,392 slot machines, 777 table games and 11,391 hotel rooms.
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