Boyd Gaming Corporation (NYSE:BYD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued 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. “
Other research analysts also recently issued reports about the company. Deutsche Bank AG reiterated a “buy” rating and issued a $29.00 price target (down from $30.00) on shares of Boyd Gaming Corporation in a report on Sunday, July 30th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $27.00 price target on shares of Boyd Gaming Corporation in a report on Tuesday, October 24th. ValuEngine upgraded Boyd Gaming Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. BidaskClub upgraded Boyd Gaming Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Finally, Barclays PLC lifted their price target on Boyd Gaming Corporation from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $27.47.
Boyd Gaming Corporation (NYSE:BYD) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $587.70 million during the quarter, compared to analysts’ expectations of $592.29 million. During the same quarter in the prior year, the business posted $0.14 earnings per share. The company’s revenue was up 10.5% compared to the same quarter last year.
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In other Boyd Gaming Corporation news, VP William R. Boyd sold 10,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $26.55, for a total transaction of $265,500.00. Following the sale, the vice president now owns 8,251 shares in the company, valued at approximately $219,064.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert L. Boughner sold 40,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $26.70, for a total value of $1,068,000.00. Following the sale, the director now owns 40,000 shares in the company, valued at approximately $1,068,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,000 shares of company stock worth $1,520,470. Company insiders own 29.16% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Marshall Wace North America L.P. grew its stake in Boyd Gaming Corporation by 441.4% during the 2nd quarter. Marshall Wace North America L.P. now owns 230,849 shares of the company’s stock valued at $5,771,000 after purchasing an additional 188,208 shares during the last quarter. DSAM Partners London Ltd purchased a new stake in Boyd Gaming Corporation during the 2nd quarter valued at about $2,059,000. Schwab Charles Investment Management Inc. grew its stake in Boyd Gaming Corporation by 15.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 441,350 shares of the company’s stock valued at $9,715,000 after purchasing an additional 58,537 shares during the last quarter. Cipher Capital LP grew its stake in Boyd Gaming Corporation by 16.1% during the 2nd quarter. Cipher Capital LP now owns 127,405 shares of the company’s stock valued at $3,161,000 after purchasing an additional 17,635 shares during the last quarter. Finally, Zweig DiMenna Associates LLC purchased a new stake in Boyd Gaming Corporation during the 2nd quarter valued at about $4,385,000. 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.
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