Boyd Gaming Corporation (NYSE:BYD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Headquartered in Las Vegas, Boyd Gaming Corporation is a leading diversified owner and operator of 22 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi and New Jersey. “

BYD has been the subject of a number of other reports. BidaskClub raised shares of Boyd Gaming Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Stifel Nicolaus raised their target price on shares of Boyd Gaming Corporation from $28.00 to $30.00 and gave the company a “hold” rating in a report on Friday, October 27th. ValuEngine raised shares of Boyd Gaming Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Barclays PLC raised their target price on shares of Boyd Gaming Corporation from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Tuesday, August 1st. Finally, SunTrust Banks, Inc. reissued a “buy” rating and issued a $27.00 target price on shares of Boyd Gaming Corporation in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. Boyd Gaming Corporation currently has a consensus rating of “Buy” and an average target price of $27.47.

Boyd Gaming Corporation (NYSE:BYD) last posted its earnings results on Thursday, October 26th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Boyd Gaming Corporation had a net margin of 5.08% and a return on equity of 14.01%. The business had revenue of $587.70 million during the quarter, compared to analysts’ expectations of $592.29 million. During the same period last year, the business posted $0.14 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year.

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In other news, VP William R. Boyd sold 10,000 shares of Boyd Gaming Corporation stock in a transaction 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 in the company, valued at $219,064.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP William R. Boyd sold 7,000 shares of Boyd Gaming Corporation stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $26.71, for a total value of $186,970.00. Following the sale, the vice president now owns 1,251 shares of the company’s stock, valued at $33,414.21. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,000 shares of company stock valued at $1,520,470. Corporate insiders own 29.16% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its position in shares of Boyd Gaming Corporation by 0.3% during the second quarter. Louisiana State Employees Retirement System now owns 33,700 shares of the company’s stock worth $836,000 after purchasing an additional 100 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Boyd Gaming Corporation by 0.4% during the first quarter. Legal & General Group Plc now owns 148,018 shares of the company’s stock worth $3,255,000 after purchasing an additional 517 shares during the last quarter. Amalgamated Bank lifted its position in shares of Boyd Gaming Corporation by 5.0% during the second quarter. Amalgamated Bank now owns 11,456 shares of the company’s stock worth $284,000 after purchasing an additional 546 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Boyd Gaming Corporation by 2.1% during the second quarter. Nisa Investment Advisors LLC now owns 26,520 shares of the company’s stock worth $658,000 after purchasing an additional 550 shares during the last quarter. Finally, Texas Permanent School Fund lifted its position in shares of Boyd Gaming Corporation by 1.0% during the second quarter. Texas Permanent School Fund now owns 60,351 shares of the company’s stock worth $1,497,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 74.92% 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.

Analyst Recommendations for Boyd Gaming Corporation (NYSE:BYD)

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