Boyd Gaming Corp. (BYD) Sees Strong Trading Volume
Boyd Gaming Corp. (NYSE:BYD) shares saw unusually-high trading volume on Thursday . Approximately 1,453,878 shares were traded during trading, an increase of 16% from the previous session’s volume of 1,250,110 shares.The stock last traded at $19.96 and had previously closed at $19.39.
BYD has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Boyd Gaming Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 19th. Deutsche Bank AG restated a “buy” rating on shares of Boyd Gaming Corp. in a research report on Thursday, June 16th. Imperial Capital restated an “outperform” rating and set a $26.00 target price on shares of Boyd Gaming Corp. in a research report on Wednesday, June 8th. Telsey Advisory Group lowered their target price on shares of Boyd Gaming Corp. from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, August 4th. Finally, Janney Montgomery Scott restated a “buy” rating on shares of Boyd Gaming Corp. in a research report on Wednesday, April 27th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $22.08.
The firm has a market capitalization of $2.23 billion and a price-to-earnings ratio of 27.64. The company’s 50 day moving average price is $18.87 and its 200 day moving average price is $18.74.
Boyd Gaming Corp. (NYSE:BYD) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by $0.14. The company earned $544.90 million during the quarter, compared to analyst estimates of $561.27 million. During the same period last year, the business earned $0.24 earnings per share. Boyd Gaming Corp.’s quarterly revenue was down 2.7% on a year-over-year basis. On average, analysts expect that Boyd Gaming Corp. will post $0.80 EPS for the current year.
In other Boyd Gaming Corp. news, insider Marianne Boyd Johnson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $19.26, for a total value of $192,600.00. Following the completion of the sale, the insider now directly owns 187,229 shares in the company, valued at $3,606,030.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Keith Smith sold 138,068 shares of the company’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $19.46, for a total value of $2,686,803.28. Following the completion of the sale, the chief executive officer now owns 953,403 shares of the company’s stock, valued at $18,553,222.38. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Boyd Gaming Corp. stock. Comerica Bank boosted its position in Boyd Gaming Corp. (NYSE:BYD) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,208 shares of the company’s stock after buying an additional 222 shares during the period. Comerica Bank owned approximately 0.06% of Boyd Gaming Corp. worth $1,267,000 as of its most recent SEC filing.
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operates through five segments: Las Vegas Locals; Downtown Las Vegas; Midwest and South; Peninsula, and Borgata. The Las Vegas Locals Properties segment consists of Gold Coast Hotel and Casino, The Orleans Hotel and Casino, Sam’s Town Hotel and Gambling Hall, Suncoast Hotel and Casino, and Eldorado Casino and Jokers Wild Casino.
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