Goldentree Asset Management LP bought a new stake in Boyd Gaming Co. (NYSE:BYD - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 177,724 shares of the company's stock, valued at approximately $11,490,000. Boyd Gaming makes up 0.9% of Goldentree Asset Management LP's investment portfolio, making the stock its 28th biggest holding. Goldentree Asset Management LP owned 0.20% of Boyd Gaming as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. lifted its stake in Boyd Gaming by 6,158.8% in the 3rd quarter. Victory Capital Management Inc. now owns 908,905 shares of the company's stock valued at $58,761,000 after purchasing an additional 894,383 shares during the last quarter. Long Pond Capital LP bought a new position in shares of Boyd Gaming in the 2nd quarter valued at $20,440,000. Ariel Investments LLC boosted its holdings in shares of Boyd Gaming by 12.5% during the 2nd quarter. Ariel Investments LLC now owns 3,031,691 shares of the company's stock valued at $167,046,000 after acquiring an additional 335,984 shares in the last quarter. Boston Partners grew its position in Boyd Gaming by 10.0% during the 1st quarter. Boston Partners now owns 3,031,091 shares of the company's stock worth $203,276,000 after acquiring an additional 274,876 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Boyd Gaming by 19.7% in the 2nd quarter. American Century Companies Inc. now owns 1,149,701 shares of the company's stock worth $63,349,000 after purchasing an additional 189,226 shares in the last quarter. Institutional investors own 76.81% of the company's stock.
Insider Activity
In related news, CFO Josh Hirsberg sold 21,549 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $71.43, for a total transaction of $1,539,245.07. Following the completion of the transaction, the chief financial officer now owns 438,615 shares in the company, valued at approximately $31,330,269.45. This represents a 4.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William R. Boyd sold 25,155 shares of the firm's stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $69.35, for a total transaction of $1,744,499.25. Following the sale, the director now owns 1,487,970 shares of the company's stock, valued at $103,190,719.50. This trade represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,704 shares of company stock worth $10,540,944 over the last quarter. Insiders own 27.94% of the company's stock.
Analyst Upgrades and Downgrades
BYD has been the subject of several recent research reports. Bank of America upped their price target on shares of Boyd Gaming from $68.00 to $72.00 and gave the company a "buy" rating in a research report on Tuesday, September 17th. Morgan Stanley raised their target price on Boyd Gaming from $74.00 to $78.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 22nd. Truist Financial lifted their target price on Boyd Gaming from $75.00 to $77.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price target on Boyd Gaming from $68.00 to $69.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Finally, Stifel Nicolaus lifted their price objective on Boyd Gaming from $67.00 to $74.00 and gave the stock a "hold" rating in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boyd Gaming currently has an average rating of "Moderate Buy" and an average price target of $91.38.
Read Our Latest Research Report on Boyd Gaming
Boyd Gaming Stock Up 1.0 %
BYD traded up $0.75 during midday trading on Friday, reaching $73.85. 486,368 shares of the company were exchanged, compared to its average volume of 915,932. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 9.59 and a beta of 1.55. Boyd Gaming Co. has a one year low of $49.34 and a one year high of $74.78. The company's fifty day moving average price is $68.20 and its 200 day moving average price is $60.67. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82.
Boyd Gaming Profile
(
Free Report)
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.
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