Boyd Gaming Corp. (BYD) Sees Large Volume Increase
Boyd Gaming Corp. (NYSE:BYD) saw unusually-high trading volume on Friday . Approximately 2,104,876 shares changed hands during mid-day 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.
Several research firms recently weighed in on BYD. Deutsche Bank AG reiterated a “buy” rating on shares of Boyd Gaming Corp. in a research note on Sunday, June 26th. Janney Montgomery Scott reiterated a “buy” rating on shares of Boyd Gaming Corp. in a research note on Wednesday, April 27th. Imperial Capital reiterated an “outperform” rating on shares of Boyd Gaming Corp. in a research note on Thursday, April 28th. Sterne Agee CRT reiterated a “buy” rating and issued a $24.00 target price on shares of Boyd Gaming Corp. in a research note on Thursday, April 28th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Boyd Gaming Corp. in a research note on Tuesday, April 26th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Boyd Gaming Corp. presently has a consensus rating of “Buy” and a consensus price target of $21.79.
The company has a market cap of $2.10 billion and a price-to-earnings ratio of 46.97. The stock has a 50-day moving average price of $18.68 and a 200 day moving average price of $18.60.
Boyd Gaming Corp. (NYSE:BYD) last released its quarterly earnings results on Tuesday, April 26th. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.05. During the same period in the previous year, the company posted $0.13 earnings per share. The firm had revenue of $552.40 million for the quarter, compared to analysts’ expectations of $563.81 million. The business’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities analysts anticipate that Boyd Gaming Corp. will post $1.10 earnings per share for the current fiscal year.
In other Boyd Gaming Corp. news, Director Paul W. Whetsell purchased 7,500 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The shares were bought at an average price of $19.52 per share, for a total transaction of $146,400.00. Following the acquisition, the director now owns 7,500 shares in the company, valued at $146,400. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Keith Smith sold 138,068 shares of the stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $19.46, for a total transaction of $2,686,803.28. Following the completion of the transaction, the chief executive officer now owns 953,403 shares in the company, valued at approximately $18,553,222.38. The disclosure for this sale can be found here.
Several large investors have recently modified their holdings of BYD. Nichols Asset Management LLC acquired a new position in shares of Boyd Gaming Corp. during the fourth quarter worth about $9,314,000. Waterfront Capital Partners LLC acquired a new position in shares of Boyd Gaming Corp. during the fourth quarter worth about $2,921,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of Boyd Gaming Corp. during the fourth quarter worth about $1,374,000. New York State Common Retirement Fund raised its position in shares of Boyd Gaming Corp. by 12.5% in the fourth quarter. New York State Common Retirement Fund now owns 391,913 shares of the company’s stock worth $7,787,000 after buying an additional 43,396 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Boyd Gaming Corp. by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 545,587 shares of the company’s stock worth $10,841,000 after buying an additional 23,024 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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