Bridgewater Associates LP Lowers Stock Position in Boyd Gaming Co. (NYSE:BYD)

Bridgewater Associates LP trimmed its stake in Boyd Gaming Co. (NYSE:BYD - Free Report) by 51.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,152 shares of the company's stock after selling 62,867 shares during the period. Bridgewater Associates LP owned about 0.07% of Boyd Gaming worth $3,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in BYD. Victory Capital Management Inc. boosted its position 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 buying an additional 894,383 shares during the period. Long Pond Capital LP purchased a new stake in Boyd Gaming in the 2nd quarter valued at about $20,440,000. Ariel Investments LLC boosted its position in Boyd Gaming by 12.5% in the 2nd quarter. Ariel Investments LLC now owns 3,031,691 shares of the company's stock valued at $167,046,000 after buying an additional 335,984 shares during the period. American Century Companies Inc. boosted its position 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 valued at $63,349,000 after buying an additional 189,226 shares during the period. Finally, International Assets Investment Management LLC boosted its position in Boyd Gaming by 4,816.4% in the 3rd quarter. International Assets Investment Management LLC now owns 184,560 shares of the company's stock valued at $119,320,000 after buying an additional 180,806 shares during the period. 76.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Josh Hirsberg sold 21,549 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $71.43, for a total value of $1,539,245.07. Following the sale, the chief financial officer now directly owns 438,615 shares of the company's stock, valued at $31,330,269.45. This represents a 4.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Keith Smith sold 30,000 shares of the company's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $72.15, for a total transaction of $2,164,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,101,202 shares in the company, valued at $79,451,724.30. This trade represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,704 shares of company stock valued at $10,540,944. Insiders own 27.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BYD shares. Mizuho reissued an "outperform" rating and issued a $79.00 price objective (up from $78.00) on shares of Boyd Gaming in a research report on Friday, October 25th. StockNews.com upgraded shares of Boyd Gaming from a "buy" rating to a "strong-buy" rating in a report on Monday, October 28th. Stifel Nicolaus boosted their price target on shares of Boyd Gaming from $67.00 to $74.00 and gave the company a "hold" rating in a report on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on shares of Boyd Gaming from $68.00 to $69.00 and gave the company a "neutral" rating in a report on Friday, October 25th. Finally, Morgan Stanley boosted their price target on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Boyd Gaming has an average rating of "Moderate Buy" and a consensus price target of $91.38.

Boyd Gaming Stock Up 1.0 %

Shares of NYSE BYD traded up $0.75 during trading hours on Friday, hitting $73.85. 486,368 shares of the stock were exchanged, compared to its average volume of 915,932. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The company has a market cap of $6.53 billion, a PE ratio of 14.09, a PEG ratio of 9.59 and a beta of 1.55. The firm has a fifty day moving average price of $68.20 and a 200-day moving average price of $60.67. Boyd Gaming Co. has a 12 month low of $49.34 and a 12 month high of $74.78.

Boyd Gaming Company Profile

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.