Swiss National Bank Cuts Position in Boyd Gaming Corporation $BYD

Swiss National Bank decreased its holdings in Boyd Gaming Corporation (NYSE:BYD) by 8.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,300 shares of the company’s stock after selling 9,600 shares during the quarter. Swiss National Bank’s holdings in Boyd Gaming were worth $8,629,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Boyd Gaming during the 1st quarter worth approximately $907,000. Cetera Investment Advisers increased its holdings in Boyd Gaming by 19.4% in the 1st quarter. Cetera Investment Advisers now owns 19,070 shares of the company’s stock worth $1,255,000 after acquiring an additional 3,094 shares in the last quarter. LPL Financial LLC raised its position in Boyd Gaming by 3.2% during the first quarter. LPL Financial LLC now owns 115,799 shares of the company’s stock worth $7,623,000 after acquiring an additional 3,543 shares during the period. Mackenzie Financial Corp raised its position in Boyd Gaming by 19.7% during the first quarter. Mackenzie Financial Corp now owns 11,479 shares of the company’s stock worth $756,000 after acquiring an additional 1,886 shares during the period. Finally, XTX Topco Ltd lifted its holdings in Boyd Gaming by 98.1% during the first quarter. XTX Topco Ltd now owns 5,895 shares of the company’s stock valued at $388,000 after purchasing an additional 2,919 shares in the last quarter. 76.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on BYD. Macquarie restated a “neutral” rating and set a $90.00 price target on shares of Boyd Gaming in a research report on Friday, October 24th. Morgan Stanley increased their target price on Boyd Gaming from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Raymond James Financial restated an “outperform” rating on shares of Boyd Gaming in a research report on Monday, September 8th. Mizuho boosted their price target on Boyd Gaming from $89.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Finally, Zacks Research downgraded Boyd Gaming from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Boyd Gaming has a consensus rating of “Hold” and a consensus price target of $89.54.

Insider Activity

In related news, Director William R. Boyd sold 20,000 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $80.36, for a total value of $1,607,200.00. Following the completion of the sale, the director owned 1,960,447 shares of the company’s stock, valued at approximately $157,541,520.92. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Marianne Boyd Johnson sold 100,000 shares of Boyd Gaming stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $86.62, for a total transaction of $8,662,000.00. Following the transaction, the chairman directly owned 1,704,379 shares in the company, valued at $147,633,308.98. This trade represents a 5.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 27.94% of the company’s stock.

Boyd Gaming Price Performance

BYD stock opened at $83.30 on Friday. Boyd Gaming Corporation has a 1 year low of $58.94 and a 1 year high of $88.49. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.86 and a quick ratio of 0.82. The firm has a market capitalization of $6.51 billion, a PE ratio of 3.64, a price-to-earnings-growth ratio of 2.02 and a beta of 1.31. The business has a 50 day simple moving average of $82.11 and a 200-day simple moving average of $81.18.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Tuesday, April 11th. The company reported $1.35 earnings per share for the quarter. The company had revenue of $707.32 million for the quarter. Boyd Gaming had a return on equity of 41.97% and a net margin of 46.02%. Equities research analysts anticipate that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal 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.