Intrust Bank NA acquired a new stake in Boyd Gaming Co. (NYSE:BYD) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,724 shares of the company’s stock, valued at approximately $223,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. United Services Automobile Association lifted its stake in Boyd Gaming by 13.8% in the 2nd quarter. United Services Automobile Association now owns 17,577 shares of the company’s stock valued at $609,000 after acquiring an additional 2,135 shares in the last quarter. Bank of Montreal Can lifted its stake in Boyd Gaming by 1,569.0% in the 3rd quarter. Bank of Montreal Can now owns 54,126 shares of the company’s stock valued at $1,831,000 after acquiring an additional 50,883 shares in the last quarter. First Hawaiian Bank bought a new stake in Boyd Gaming in the 3rd quarter valued at approximately $100,000. Oakbrook Investments LLC bought a new stake in Boyd Gaming in the 3rd quarter valued at approximately $213,000. Finally, Three Peaks Capital Management LLC lifted its stake in Boyd Gaming by 6.5% in the 3rd quarter. Three Peaks Capital Management LLC now owns 102,849 shares of the company’s stock valued at $3,481,000 after acquiring an additional 6,287 shares in the last quarter. 71.06% of the stock is currently owned by institutional investors and hedge funds.
NYSE:BYD opened at $28.10 on Wednesday. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 27.28, a P/E/G ratio of 0.74 and a beta of 2.13. Boyd Gaming Co. has a twelve month low of $18.98 and a twelve month high of $39.35. The company has a current ratio of 1.37, a quick ratio of 1.33 and a debt-to-equity ratio of 3.09.
Boyd Gaming declared that its board has authorized a share repurchase program on Wednesday, December 12th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Several research analysts have weighed in on BYD shares. Zacks Investment Research lowered Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. ValuEngine lowered Boyd Gaming from a “hold” rating to a “sell” rating in a research report on Monday, November 12th. TheStreet lowered Boyd Gaming from a “b” rating to a “c+” rating in a research report on Monday, November 26th. Telsey Advisory Group lowered their price target on Boyd Gaming from $35.00 to $31.00 and set a “market perform” rating on the stock in a research report on Friday, October 26th. Finally, Morgan Stanley raised Boyd Gaming from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $35.00 to $31.00 in a research report on Thursday, December 20th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $34.89.
In other Boyd Gaming news, VP William R. Boyd sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $24.19, for a total transaction of $2,419,000.00. Following the transaction, the vice president now owns 23,505 shares of the company’s stock, valued at approximately $568,585.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.88% of the stock is owned by insiders.
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Boyd Gaming Company 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 and South. As of October 15, 2018, the company operated 29 gaming entertainment properties offering a total of 1.76 million square feet of casino space, approximately 38,000 gaming machines, 900 table games, 11,000 hotel rooms, and 320 food and beverage outlets located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.
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