Boyd Gaming Co. (NYSE:BYD) Shares Acquired by CIBC World Markets Inc.

CIBC World Markets Inc. grew its holdings in shares of Boyd Gaming Co. (NYSE:BYD) by 138.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 41,984 shares of the company’s stock after acquiring an additional 24,379 shares during the quarter. CIBC World Markets Inc.’s holdings in Boyd Gaming were worth $2,475,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. boosted its position in Boyd Gaming by 240.4% during the 1st quarter. Advisors Asset Management Inc. now owns 1,103 shares of the company’s stock worth $65,000 after acquiring an additional 779 shares during the period. Ellevest Inc. raised its stake in shares of Boyd Gaming by 253.2% in the 1st quarter. Ellevest Inc. now owns 1,176 shares of the company’s stock worth $69,000 after buying an additional 843 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Boyd Gaming by 30.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,236 shares of the company’s stock worth $132,000 after buying an additional 524 shares in the last quarter. The PNC Financial Services Group Inc. raised its stake in shares of Boyd Gaming by 30.2% in the 1st quarter. The PNC Financial Services Group Inc. now owns 2,236 shares of the company’s stock worth $132,000 after buying an additional 518 shares in the last quarter. Finally, USA Financial Portformulas Corp bought a new stake in shares of Boyd Gaming in the 1st quarter worth $173,000. Institutional investors own 68.25% of the company’s stock.

In other news, CEO Keith Smith sold 75,000 shares of the company’s stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $60.88, for a total transaction of $4,566,000.00. Following the completion of the sale, the chief executive officer now owns 1,326,958 shares in the company, valued at approximately $80,785,203.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP William R. Boyd sold 30,000 shares of the company’s stock in a transaction dated Wednesday, May 5th. The stock was sold at an average price of $67.25, for a total value of $2,017,500.00. Following the sale, the vice president now owns 23,084 shares of the company’s stock, valued at approximately $1,552,399. The disclosure for this sale can be found here. Insiders sold 130,068 shares of company stock worth $8,170,806 in the last 90 days. Corporate insiders own 27.94% of the company’s stock.

Shares of BYD stock opened at $61.62 on Friday. Boyd Gaming Co. has a 1-year low of $17.43 and a 1-year high of $71.00. The company has a quick ratio of 1.55, a current ratio of 1.59 and a debt-to-equity ratio of 3.14. The stock has a market capitalization of $6.91 billion, a P/E ratio of 61.62, a price-to-earnings-growth ratio of 0.98 and a beta of 2.20. The company’s fifty day simple moving average is $63.70.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Monday, April 26th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.49. Boyd Gaming had a return on equity of 8.22% and a net margin of 5.11%. The firm had revenue of $753.31 million for the quarter, compared to the consensus estimate of $666.45 million. On average, analysts anticipate that Boyd Gaming Co. will post 3.25 EPS for the current fiscal year.

A number of research firms have recently commented on BYD. Morgan Stanley boosted their price objective on Boyd Gaming from $66.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 28th. Truist boosted their price objective on Boyd Gaming from $65.00 to $78.00 in a research note on Tuesday, April 27th. KeyCorp boosted their price objective on Boyd Gaming from $61.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, April 8th. TheStreet raised Boyd Gaming from a “c+” rating to a “b” rating in a research report on Friday, May 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Boyd Gaming from $71.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, April 28th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Boyd Gaming currently has an average rating of “Buy” and an average target price of $52.07.

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 & South. As of March 8, 2021, the company operated 28 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

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

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