Boyd Gaming Corporation $BYD Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in shares of Boyd Gaming Corporation (NYSE:BYD) by 22.9% during the first quarter, Holdings Channel.com reports. The firm owned 47,200 shares of the company’s stock after buying an additional 8,800 shares during the quarter. Renaissance Technologies LLC’s holdings in Boyd Gaming were worth $3,879,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Advisors Asset Management Inc. grew its stake in shares of Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after buying an additional 196 shares during the period. AQR Capital Management LLC lifted its holdings in Boyd Gaming by 13.9% in the first quarter. AQR Capital Management LLC now owns 9,623 shares of the company’s stock valued at $628,000 after acquiring an additional 1,172 shares during the last quarter. Caxton Associates LLP acquired a new position in Boyd Gaming in the first quarter valued at approximately $207,000. M&T Bank Corp purchased a new position in Boyd Gaming in the second quarter worth approximately $229,000. Finally, Amundi grew its position in Boyd Gaming by 14,719.0% in the second quarter. Amundi now owns 3,112 shares of the company’s stock worth $253,000 after acquiring an additional 3,091 shares during the period. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, CFO Josh Hirsberg sold 12,777 shares of Boyd Gaming stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total value of $1,146,863.52. Following the completion of the transaction, the chief financial officer directly owned 422,969 shares of the company’s stock, valued at $37,965,697.44. The trade was a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Keith Smith sold 100,000 shares of Boyd Gaming stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $85.90, for a total value of $8,590,000.00. Following the completion of the transaction, the chief executive officer directly owned 996,981 shares of the company’s stock, valued at approximately $85,640,667.90. This represents a 9.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 22.82% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Barclays lifted their target price on Boyd Gaming from $86.00 to $87.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. Susquehanna increased their price target on Boyd Gaming from $84.00 to $87.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. The Goldman Sachs Group assumed coverage on Boyd Gaming in a research report on Friday, June 26th. They set a “neutral” rating and a $91.00 price objective for the company. Stifel Nicolaus boosted their price objective on shares of Boyd Gaming from $91.00 to $92.00 and gave the company a “hold” rating in a report on Friday, July 24th. Finally, Mizuho set a $104.00 target price on shares of Boyd Gaming in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Boyd Gaming currently has an average rating of “Hold” and an average price target of $94.69.

Boyd Gaming Stock Down 0.9%

Shares of NYSE BYD opened at $83.37 on Friday. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 3.67, a PEG ratio of 2.06 and a beta of 1.08. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 1.05. Boyd Gaming Corporation has a 52-week low of $76.33 and a 52-week high of $91.41. The business’s 50 day moving average is $87.08 and its two-hundred day moving average is $84.77.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, July 23rd. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.89 by $0.04. Boyd Gaming had a return on equity of 22.52% and a net margin of 44.34%.The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business posted $1.87 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. Research analysts predict that Boyd Gaming Corporation will post 7.29 EPS for the current year.

Boyd Gaming declared that its Board of Directors has authorized a share repurchase plan on Thursday, April 23rd that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 7.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

About Boyd Gaming

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.