UBS Group AG Decreases Stake in Boyd Gaming Corporation (BYD)
UBS Group AG decreased its stake in shares of Boyd Gaming Corporation (NYSE:BYD) by 22.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 28,762 shares of the company’s stock after selling 8,463 shares during the period. UBS Group AG’s holdings in Boyd Gaming Corporation were worth $633,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in BYD. Quantitative Investment Management LLC purchased a new stake in shares of Boyd Gaming Corporation during the first quarter valued at $2,986,000. Louisiana State Employees Retirement System raised its stake in shares of Boyd Gaming Corporation by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 33,600 shares of the company’s stock valued at $740,000 after buying an additional 600 shares during the period. Sei Investments Co. raised its stake in shares of Boyd Gaming Corporation by 11,853.6% in the first quarter. Sei Investments Co. now owns 62,398 shares of the company’s stock valued at $1,373,000 after buying an additional 61,876 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Boyd Gaming Corporation during the first quarter valued at $175,000. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Boyd Gaming Corporation by 27.3% in the first quarter. UBS Asset Management Americas Inc. now owns 51,072 shares of the company’s stock valued at $1,124,000 after buying an additional 10,942 shares during the period. 71.12% of the stock is owned by hedge funds and other institutional investors.
Shares of Boyd Gaming Corporation (NYSE:BYD) traded down 1.05% during trading on Friday, reaching $25.56. The company’s stock had a trading volume of 990,448 shares. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 6.75 and a beta of 1.93. The company has a 50 day moving average of $25.67 and a 200-day moving average of $23.37. Boyd Gaming Corporation has a 12-month low of $16.77 and a 12-month high of $26.87.
Boyd Gaming Corporation (NYSE:BYD) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by $0.04. Boyd Gaming Corporation had a return on equity of 13.31% and a net margin of 19.15%. The firm had revenue of $599.87 million for the quarter, compared to analyst estimates of $602.39 million. During the same quarter last year, the company earned $0.16 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. Analysts forecast that Boyd Gaming Corporation will post $1.10 EPS for the current year.
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BYD has been the subject of several analyst reports. Wells Fargo & Company restated a “market perform” rating and issued a $25.00 target price (up previously from $22.00) on shares of Boyd Gaming Corporation in a research note on Monday, June 19th. BidaskClub downgraded Boyd Gaming Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 23rd. Cann upgraded Boyd Gaming Corporation to a “buy” rating and raised their target price for the stock from $20.00 to $27.00 in a research note on Wednesday, May 3rd. They noted that the move was a valuation call. Zacks Investment Research downgraded Boyd Gaming Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, May 4th. Finally, Telsey Advisory Group lifted their price target on Boyd Gaming Corporation from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $26.87.
In other Boyd Gaming Corporation news, CEO Keith Smith sold 21,780 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $25.68, for a total transaction of $559,310.40. Following the transaction, the chief executive officer now directly owns 1,031,554 shares in the company, valued at $26,490,306.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William R. Boyd sold 10,000 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $26.55, for a total value of $265,500.00. Following the completion of the sale, the vice president now owns 8,251 shares in the company, valued at $219,064.05. The disclosure for this sale can be found here. Insiders have sold 183,816 shares of company stock worth $4,672,840 over the last 90 days. 29.16% of the stock is owned by insiders.
Boyd Gaming Corporation Company Profile
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
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