KBC Group NV Invests $1.92 Million in Boyd Gaming Corporation (BYD)
KBC Group NV bought a new position in Boyd Gaming Corporation (NYSE:BYD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 77,222 shares of the company’s stock, valued at approximately $1,916,000. KBC Group NV owned approximately 0.07% of Boyd Gaming Corporation at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. bought a new stake in Boyd Gaming Corporation during the first quarter worth approximately $157,000. Oppenheimer Asset Management Inc. bought a new stake in Boyd Gaming Corporation during the first quarter worth approximately $161,000. Victory Capital Management Inc. bought a new stake in Boyd Gaming Corporation during the first quarter worth approximately $175,000. State of Alaska Department of Revenue boosted its stake in Boyd Gaming Corporation by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 9,110 shares of the company’s stock worth $200,000 after buying an additional 240 shares in the last quarter. Finally, Teza Capital Management LLC bought a new stake in Boyd Gaming Corporation during the first quarter worth approximately $226,000. 74.66% of the stock is owned by institutional investors and hedge funds.
Shares of Boyd Gaming Corporation (NYSE BYD) opened at 26.26 on Tuesday. The company’s 50-day moving average is $25.87 and its 200 day moving average is $23.57. Boyd Gaming Corporation has a 52 week low of $16.77 and a 52 week high of $26.87. The stock has a market cap of $2.96 billion, a PE ratio of 6.94 and a beta of 1.93.
Boyd Gaming Corporation (NYSE:BYD) last posted its quarterly earnings data 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 net margin of 19.15% and a return on equity of 13.31%. The firm had revenue of $599.87 million for the quarter, compared to analysts’ expectations of $602.39 million. During the same period in the prior year, the company posted $0.16 earnings per share. Boyd Gaming Corporation’s quarterly revenue was up 10.1% compared to the same quarter last year. Analysts forecast that Boyd Gaming Corporation will post $1.12 earnings per share for the current fiscal year.
A number of analysts have recently commented on the stock. BidaskClub cut shares of Boyd Gaming Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. Barclays PLC boosted their target price on shares of Boyd Gaming Corporation from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 1st. Deutsche Bank AG reissued a “buy” rating and set a $26.00 target price (up previously from $25.00) on shares of Boyd Gaming Corporation in a research note on Wednesday, May 3rd. Zacks Investment Research cut shares of Boyd Gaming Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Instinet reissued a “buy” rating and set a $30.00 target price (up previously from $27.00) on shares of Boyd Gaming Corporation in a research note on Monday, June 19th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Boyd Gaming Corporation has a consensus rating of “Buy” and a consensus price target of $26.87.
In other news, insider William S. Boyd sold 76,531 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $25.18, for a total value of $1,927,050.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William R. Boyd sold 10,000 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $26.55, for a total transaction of $265,500.00. Following the completion of the sale, the vice president now directly owns 8,251 shares of the company’s stock, valued at $219,064.05. The disclosure for this sale can be found here. Insiders have sold 158,306 shares of company stock valued at $4,029,733 over the last ninety days. Insiders own 29.16% of the company’s stock.
About Boyd Gaming Corporation
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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