Cetera Investment Advisers Purchases 3,094 Shares of Boyd Gaming Corporation (NYSE:BYD)

Cetera Investment Advisers raised its stake in shares of Boyd Gaming Corporation (NYSE:BYD) by 19.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,070 shares of the company’s stock after acquiring an additional 3,094 shares during the quarter. Cetera Investment Advisers’ holdings in Boyd Gaming were worth $1,255,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Boyd Gaming in the first quarter valued at about $907,000. Choreo LLC raised its position in Boyd Gaming by 0.9% in the 1st quarter. Choreo LLC now owns 30,164 shares of the company’s stock valued at $1,991,000 after buying an additional 271 shares during the last quarter. Burns Matteson Capital Management LLC grew its stake in Boyd Gaming by 5.9% in the first quarter. Burns Matteson Capital Management LLC now owns 5,727 shares of the company’s stock valued at $377,000 after purchasing an additional 320 shares in the last quarter. Victory Capital Management Inc. grew its stake in Boyd Gaming by 13.3% in the first quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company’s stock valued at $69,036,000 after purchasing an additional 122,822 shares in the last quarter. Finally, Sigma Planning Corp bought a new position in shares of Boyd Gaming during the 1st quarter worth approximately $420,000. Institutional investors own 76.81% of the company’s stock.

Insider Activity at Boyd Gaming

In other news, insider Stephen S. Thompson sold 15,906 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $83.25, for a total value of $1,324,174.50. Following the completion of the transaction, the insider directly owned 38,609 shares of the company’s stock, valued at $3,214,199.25. This represents a 29.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Ted Bogich sold 16,497 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $83.18, for a total value of $1,372,220.46. Following the completion of the transaction, the chief operating officer directly owned 45,116 shares of the company’s stock, valued at approximately $3,752,748.88. This represents a 26.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.97% of the company’s stock.

Boyd Gaming Stock Down 0.2%

BYD stock opened at $81.93 on Monday. The stock’s 50 day simple moving average is $79.88 and its 200 day simple moving average is $74.31. Boyd Gaming Corporation has a fifty-two week low of $55.55 and a fifty-two week high of $87.76. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86. The company has a market cap of $6.57 billion, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 2.78 and a beta of 1.24.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.67 by $0.20. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $976.81 million. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 earnings per share. On average, research analysts expect that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BYD. Barclays lifted their target price on Boyd Gaming from $73.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. JPMorgan Chase & Co. assumed coverage on Boyd Gaming in a report on Monday, June 23rd. They set a “neutral” rating and a $79.00 price target for the company. Stifel Nicolaus lifted their price target on Boyd Gaming from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, July 25th. Susquehanna cut Boyd Gaming from a “positive” rating to a “neutral” rating and lifted their price objective for the company from $76.00 to $86.00 in a report on Friday, July 11th. Finally, Mizuho lifted their price objective on Boyd Gaming from $86.00 to $89.00 and gave the company an “outperform” rating in a report on Friday, July 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $86.62.

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.