CFC Planning Co LLC Acquires New Stake in Boyd Gaming Corporation $BYD

CFC Planning Co LLC purchased a new position in shares of Boyd Gaming Corporation (NYSE:BYD) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,019 shares of the company’s stock, valued at approximately $236,000.

A number of other institutional investors have also modified their holdings of BYD. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Boyd Gaming by 219.8% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock valued at $29,000 after buying an additional 255 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Boyd Gaming in the second quarter worth approximately $39,000. Advisors Asset Management Inc. grew its holdings in Boyd Gaming by 56.8% in the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after purchasing an additional 196 shares during the period. Parallel Advisors LLC grew its holdings in Boyd Gaming by 24.5% in the second quarter. Parallel Advisors LLC now owns 685 shares of the company’s stock valued at $54,000 after purchasing an additional 135 shares during the period. Finally, GAMMA Investing LLC increased its position in Boyd Gaming by 24.2% during the second quarter. GAMMA Investing LLC now owns 960 shares of the company’s stock worth $75,000 after purchasing an additional 187 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

Insider Buying and Selling at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 100,000 shares of Boyd Gaming stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $86.62, for a total transaction of $8,662,000.00. Following the sale, the chairman directly owned 1,704,379 shares in the company, valued at $147,633,308.98. The trade was a 5.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William R. Boyd sold 20,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the sale, the director owned 1,960,447 shares in the company, valued at $157,541,520.92. This trade represents a 1.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 27.94% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BYD shares. Stifel Nicolaus boosted their price objective on shares of Boyd Gaming from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, July 25th. Zacks Research cut Boyd Gaming from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Raymond James Financial restated an “outperform” rating on shares of Boyd Gaming in a research note on Monday, September 8th. Macquarie restated a “neutral” rating and issued a $90.00 price objective on shares of Boyd Gaming in a report on Friday, October 24th. Finally, JPMorgan Chase & Co. boosted their target price on Boyd Gaming from $87.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, Boyd Gaming presently has a consensus rating of “Hold” and an average target price of $89.83.

Boyd Gaming Stock Down 0.8%

BYD stock opened at $77.97 on Friday. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 3.41, a PEG ratio of 2.02 and a beta of 1.31. Boyd Gaming Corporation has a 1-year low of $58.94 and a 1-year high of $88.49. The firm has a fifty day moving average price of $82.22 and a two-hundred day moving average price of $80.69. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.86 and a quick ratio of 0.82.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share for the quarter. Boyd Gaming had a return on equity of 41.97% and a net margin of 46.02%.The business had revenue of $707.32 million for the quarter. Research analysts predict that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming Company Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.