DSAM Partners London Ltd Takes Position in Boyd Gaming Corporation (BYD)
DSAM Partners London Ltd acquired a new position in shares of Boyd Gaming Corporation (NYSE:BYD) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 83,000 shares of the company’s stock, valued at approximately $2,059,000. DSAM Partners London Ltd owned approximately 0.07% of Boyd Gaming Corporation as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of BYD. UBS Asset Management Americas Inc. boosted its position in Boyd Gaming Corporation by 27.3% in the first quarter. UBS Asset Management Americas Inc. now owns 51,072 shares of the company’s stock worth $1,124,000 after buying an additional 10,942 shares during the last quarter. Swiss National Bank boosted its position in Boyd Gaming Corporation by 1.5% in the first quarter. Swiss National Bank now owns 139,000 shares of the company’s stock worth $3,059,000 after buying an additional 2,000 shares in the last quarter. Comerica Bank boosted its position in Boyd Gaming Corporation by 4.7% in the first quarter. Comerica Bank now owns 78,127 shares of the company’s stock worth $1,800,000 after buying an additional 3,516 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Boyd Gaming Corporation by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 1,089,574 shares of the company’s stock worth $23,981,000 after buying an additional 20,815 shares in the last quarter. Finally, US Bancorp DE boosted its position in Boyd Gaming Corporation by 7.9% in the first quarter. US Bancorp DE now owns 61,371 shares of the company’s stock worth $1,351,000 after buying an additional 4,508 shares in the last quarter. 74.66% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Boyd Gaming Corporation (BYD) opened at 26.26 on Tuesday. The company has a market cap of $2.96 billion, a P/E ratio of 6.94 and a beta of 1.93. Boyd Gaming Corporation has a 1-year low of $16.77 and a 1-year high of $26.87. The firm has a 50-day moving average price of $25.87 and a 200-day moving average price of $23.57.
Boyd Gaming Corporation (NYSE:BYD) last posted its earnings results on Thursday, July 27th. The company reported $0.26 earnings per share (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 company had revenue of $599.87 million during the quarter, compared to analysts’ expectations of $602.39 million. During the same period in the previous year, the company posted $0.16 EPS. Boyd Gaming Corporation’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities analysts expect that Boyd Gaming Corporation will post $1.12 EPS for the current year.
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A number of research analysts recently commented on BYD shares. Instinet boosted their price target on Boyd Gaming Corporation from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, May 4th. Aegis reissued a “buy” rating and issued a $27.00 price target (up from $26.00) on shares of Boyd Gaming Corporation in a report on Wednesday, May 3rd. Deutsche Bank AG reissued a “buy” rating and issued a $26.00 price target (up from $25.00) on shares of Boyd Gaming Corporation in a report on Wednesday, May 3rd. Cann raised Boyd Gaming Corporation to a “buy” rating and boosted their price target for the stock from $20.00 to $27.00 in a report on Wednesday, May 3rd. They noted that the move was a valuation call. Finally, BidaskClub cut Boyd Gaming Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, June 23rd. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $26.87.
In related news, VP William R. Boyd sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $26.55, for a total value of $265,500.00. Following the sale, the vice president now owns 8,251 shares of the company’s stock, valued at approximately $219,064.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider William S. Boyd sold 76,531 shares of the company’s 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 158,306 shares of company stock worth $4,029,733. 29.16% of the stock is owned by corporate insiders.
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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