Boyd Gaming Co. (NYSE:BYD) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its position in shares of Boyd Gaming Co. (NYSE:BYD) by 9.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,397 shares of the company’s stock after selling 1,043 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Boyd Gaming were worth $280,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Trexquant Investment LP acquired a new stake in Boyd Gaming during the second quarter worth about $1,546,000. Bank of Montreal Can grew its stake in shares of Boyd Gaming by 2.0% in the second quarter. Bank of Montreal Can now owns 68,807 shares of the company’s stock valued at $1,854,000 after buying an additional 1,318 shares in the last quarter. Panagora Asset Management Inc. grew its stake in shares of Boyd Gaming by 26.9% in the second quarter. Panagora Asset Management Inc. now owns 402,613 shares of the company’s stock valued at $10,846,000 after buying an additional 85,359 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Boyd Gaming in the second quarter valued at about $15,123,000. Finally, Prudential Financial Inc. grew its stake in shares of Boyd Gaming by 34.1% in the second quarter. Prudential Financial Inc. now owns 309,669 shares of the company’s stock valued at $8,343,000 after buying an additional 78,812 shares in the last quarter. Institutional investors own 68.72% of the company’s stock.

BYD traded up $0.75 on Friday, reaching $27.46. The company’s stock had a trading volume of 24,949 shares, compared to its average volume of 873,830. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 1.08 and a beta of 2.18. Boyd Gaming Co. has a 1 year low of $18.98 and a 1 year high of $34.79. The company has a debt-to-equity ratio of 3.90, a current ratio of 0.75 and a quick ratio of 0.71. The business’s 50 day moving average is $24.47 and its 200 day moving average is $26.81.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The business had revenue of $846.13 million during the quarter, compared to analysts’ expectations of $839.64 million. Boyd Gaming had a net margin of 4.18% and a return on equity of 14.13%. The company’s revenue for the quarter was up 37.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 EPS. As a group, research analysts forecast that Boyd Gaming Co. will post 1.72 earnings per share for the current fiscal year.

A number of research firms have recently issued reports on BYD. Telsey Advisory Group upgraded Boyd Gaming from a “market perform” rating to an “outperform” rating and increased their target price for the company from $31.00 to $36.00 in a research note on Wednesday, July 31st. Stifel Nicolaus set a $36.00 price target on Boyd Gaming and gave the company a “buy” rating in a report on Wednesday, July 31st. Deutsche Bank reissued a “buy” rating and issued a $40.00 price target on shares of Boyd Gaming in a report on Wednesday, July 31st. Barclays assumed coverage on Boyd Gaming in a report on Tuesday, September 3rd. They issued an “equal weight” rating and a $8.00 price target for the company. Finally, Wolfe Research assumed coverage on Boyd Gaming in a report on Friday, June 14th. They issued an “outperform” rating and a $37.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $30.89.

Boyd Gaming 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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Institutional Ownership by Quarter for Boyd Gaming (NYSE:BYD)

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