Boyd Gaming Co. (NYSE:BYD) saw some unusual options trading activity on Monday. Investors purchased 5,905 put options on the stock. This is an increase of 970% compared to the typical daily volume of 552 put options.

In related news, insider Marianne Boyd Johnson sold 2,907 shares of Boyd Gaming stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $37.01, for a total transaction of $107,588.07. Following the sale, the insider now directly owns 231,173 shares of the company’s stock, valued at approximately $8,555,712.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William R. Boyd sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $37.00, for a total transaction of $259,000.00. Following the sale, the vice president now directly owns 21,903 shares in the company, valued at $810,411. The disclosure for this sale can be found here. Insiders have sold a total of 67,000 shares of company stock worth $2,428,514 over the last ninety days. 28.88% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. WINTON GROUP Ltd acquired a new position in shares of Boyd Gaming in the 2nd quarter worth approximately $852,000. Glenmede Trust Co. NA lifted its position in shares of Boyd Gaming by 14.2% in the 2nd quarter. Glenmede Trust Co. NA now owns 1,307,248 shares of the company’s stock worth $45,310,000 after purchasing an additional 162,154 shares during the period. Millennium Management LLC lifted its position in shares of Boyd Gaming by 15.9% in the 2nd quarter. Millennium Management LLC now owns 1,486,709 shares of the company’s stock worth $51,529,000 after purchasing an additional 203,895 shares during the period. Waddell & Reed Financial Inc. acquired a new position in shares of Boyd Gaming in the 2nd quarter worth approximately $13,205,000. Finally, Centaurus Financial Inc. acquired a new position in shares of Boyd Gaming in the 2nd quarter worth approximately $203,000. Hedge funds and other institutional investors own 72.53% of the company’s stock.

BYD has been the topic of a number of research reports. Zacks Investment Research raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Monday, July 16th. Jefferies Financial Group raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Tuesday, August 14th. JPMorgan Chase & Co. boosted their target price on shares of Boyd Gaming from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. ValuEngine lowered shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 8th. Finally, Morgan Stanley boosted their target price on shares of Boyd Gaming from $35.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 26th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $40.75.

BYD opened at $33.25 on Tuesday. Boyd Gaming has a fifty-two week low of $24.52 and a fifty-two week high of $40.44. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.99 and a current ratio of 2.03. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 32.28, a price-to-earnings-growth ratio of 1.68 and a beta of 1.62.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, July 26th. The company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.02. The firm had revenue of $616.80 million for the quarter, compared to analyst estimates of $608.94 million. Boyd Gaming had a net margin of 7.72% and a return on equity of 12.73%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 EPS. equities research analysts forecast that Boyd Gaming will post 1.3 EPS for the current fiscal year.

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 and South. As of December 31, 2017, the company owned and operated 24 gaming entertainment properties offering a total of 1,358,856 square feet of casino space, 30,267 slot machines, 632 table games, and 9,372 hotel rooms located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, and Mississippi.

Further Reading: Stock Symbols and CUSIP Explained

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