Bank of Montreal Can reduced its holdings in Boyd Gaming Co. (NYSE:BYD) by 2.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 67,489 shares of the company’s stock after selling 2,008 shares during the period. Bank of Montreal Can’s holdings in Boyd Gaming were worth $1,846,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BYD. Sageworth Trust Co bought a new position in Boyd Gaming during the first quarter worth $28,000. State of Alaska Department of Revenue bought a new position in Boyd Gaming during the first quarter worth $46,000. Strs Ohio boosted its stake in Boyd Gaming by 400.0% during the first quarter. Strs Ohio now owns 3,000 shares of the company’s stock worth $82,000 after acquiring an additional 2,400 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in Boyd Gaming during the first quarter worth $194,000. Finally, Intrust Bank NA bought a new position in Boyd Gaming during the fourth quarter worth $223,000. Hedge funds and other institutional investors own 72.66% of the company’s stock.

In other Boyd Gaming news, VP William R. Boyd sold 4,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $28.60, for a total value of $114,400.00. Following the transaction, the vice president now directly owns 34,015 shares of the company’s stock, valued at $972,829. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Keith Smith sold 100,000 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $29.41, for a total transaction of $2,941,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,339,355 shares in the company, valued at $39,390,430.55. The disclosure for this sale can be found here. Insiders sold 166,579 shares of company stock worth $4,893,971 over the last ninety days. Insiders own 29.35% of the company’s stock.

Several research analysts recently issued reports on the stock. ValuEngine lowered shares of Boyd Gaming from a “hold” rating to a “sell” rating in a research note on Tuesday, May 14th. Morgan Stanley set a $34.00 target price on shares of Boyd Gaming and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, TheStreet raised shares of Boyd Gaming from a “c+” rating to a “b” rating in a research note on Monday, March 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. Boyd Gaming currently has a consensus rating of “Buy” and a consensus target price of $34.88.

Boyd Gaming stock opened at $26.16 on Monday. Boyd Gaming Co. has a 1-year low of $18.98 and a 1-year high of $39.35. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 0.73 and a beta of 2.09. The company has a debt-to-equity ratio of 4.08, a quick ratio of 0.68 and a current ratio of 0.72.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43. Boyd Gaming had a net margin of 4.18% and a return on equity of 13.57%. The firm had revenue of $827.30 million for the quarter, compared to analyst estimates of $826.52 million. During the same period last year, the firm earned $0.39 earnings per share. The business’s quarterly revenue was up 36.5% compared to the same quarter last year. Equities research analysts predict that Boyd Gaming Co. will post 1.8 EPS for the current year.

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About Boyd Gaming

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.

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

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