Long Pond Capital LP bought a new position in shares of Boyd Gaming Co. (NYSE:BYD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 585,332 shares of the company’s stock, valued at approximately $15,769,000. Long Pond Capital LP owned 0.53% of Boyd Gaming at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio grew its stake in Boyd Gaming by 18.5% during the second quarter. Public Employees Retirement System of Ohio now owns 3,613 shares of the company’s stock worth $97,000 after purchasing an additional 564 shares during the period. Arizona State Retirement System grew its stake in Boyd Gaming by 1.1% during the second quarter. Arizona State Retirement System now owns 57,992 shares of the company’s stock worth $1,562,000 after purchasing an additional 618 shares during the period. LPL Financial LLC grew its stake in Boyd Gaming by 4.6% during the second quarter. LPL Financial LLC now owns 15,007 shares of the company’s stock worth $404,000 after purchasing an additional 655 shares during the period. Stevens Capital Management LP grew its stake in Boyd Gaming by 1.8% during the second quarter. Stevens Capital Management LP now owns 40,961 shares of the company’s stock worth $1,103,000 after purchasing an additional 719 shares during the period. Finally, Advisor Group Inc. grew its stake in Boyd Gaming by 27.8% during the second quarter. Advisor Group Inc. now owns 4,532 shares of the company’s stock worth $122,000 after purchasing an additional 986 shares during the period. 68.72% of the stock is owned by institutional investors and hedge funds.

Shares of Boyd Gaming stock opened at $26.71 on Friday. The company has a debt-to-equity ratio of 3.90, a quick ratio of 0.71 and a current ratio of 0.75. Boyd Gaming Co. has a 52 week low of $18.98 and a 52 week high of $34.79. The stock has a 50 day moving average price of $24.47 and a two-hundred day moving average price of $26.81. The stock has a market capitalization of $2.84 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 1.08 and a beta of 2.18.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.01). Boyd Gaming had a net margin of 4.18% and a return on equity of 14.13%. The firm had revenue of $846.13 million during the quarter, compared to analyst estimates of $839.64 million. During the same period last year, the business posted $0.38 EPS. The company’s revenue was up 37.2% on a year-over-year basis. Research analysts forecast that Boyd Gaming Co. will post 1.72 EPS for the current year.

BYD has been the subject of several recent analyst reports. Deutsche Bank reaffirmed a “buy” rating and set a $40.00 target price on shares of Boyd Gaming in a research note on Wednesday, July 31st. Stifel Nicolaus set a $36.00 price objective on Boyd Gaming and gave the company a “buy” rating in a research note on Wednesday, July 31st. Telsey Advisory Group raised Boyd Gaming from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $31.00 to $36.00 in a research note on Wednesday, July 31st. Barclays began coverage on Boyd Gaming in a research note on Tuesday, September 3rd. They issued an “equal weight” rating and a $8.00 price objective for the company. Finally, ValuEngine cut Boyd Gaming from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $30.89.

Boyd Gaming 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 & South. As of March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

See Also: What is the Quick Ratio?

Want to see what other hedge funds are holding BYD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boyd Gaming Co. (NYSE:BYD).

Institutional Ownership by Quarter for Boyd Gaming (NYSE:BYD)

Receive News & Ratings for Boyd Gaming Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boyd Gaming and related companies with MarketBeat.com's FREE daily email newsletter.