Gabelli Funds LLC Decreases Holdings in Boyd Gaming (BYD)

Gabelli Funds LLC decreased its position in Boyd Gaming (NYSE:BYD) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 725,000 shares of the company’s stock after selling 13,000 shares during the quarter. Gabelli Funds LLC owned approximately 0.64% of Boyd Gaming worth $23,099,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BYD. First Mercantile Trust Co. bought a new position in Boyd Gaming in the first quarter worth $115,000. LS Investment Advisors LLC raised its holdings in Boyd Gaming by 100.9% in the first quarter. LS Investment Advisors LLC now owns 4,453 shares of the company’s stock worth $142,000 after purchasing an additional 2,237 shares in the last quarter. Strs Ohio raised its holdings in Boyd Gaming by 177.8% in the fourth quarter. Strs Ohio now owns 5,000 shares of the company’s stock worth $175,000 after purchasing an additional 3,200 shares in the last quarter. Advisory Services Network LLC bought a new position in Boyd Gaming in the fourth quarter worth $183,000. Finally, Silvant Capital Management LLC bought a new position in Boyd Gaming in the first quarter worth $188,000. Institutional investors and hedge funds own 73.84% of the company’s stock.

Shares of Boyd Gaming opened at $36.58 on Friday, Marketbeat.com reports. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 2.66. Boyd Gaming has a 1-year low of $24.17 and a 1-year high of $40.44. The firm has a market cap of $4.08 billion, a PE ratio of 35.51 and a beta of 1.80.



Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, April 26th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.35 by $0.04. Boyd Gaming had a return on equity of 11.84% and a net margin of 8.18%. The company had revenue of $606.10 million for the quarter, compared to analysts’ expectations of $608.99 million. During the same period last year, the firm posted $0.32 earnings per share. Boyd Gaming’s revenue was down .7% compared to the same quarter last year. sell-side analysts predict that Boyd Gaming will post 1.31 EPS for the current fiscal year.

In related news, VP Brian A. Larson sold 99,077 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $35.71, for a total transaction of $3,538,039.67. Following the sale, the vice president now directly owns 104,216 shares of the company’s stock, valued at $3,721,553.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP William R. Boyd sold 7,528 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $35.23, for a total value of $265,211.44. Following the sale, the vice president now directly owns 3,714 shares in the company, valued at $130,844.22. The disclosure for this sale can be found here. Insiders have sold 348,294 shares of company stock worth $12,121,208 over the last ninety days. 28.88% of the stock is currently owned by insiders.

A number of equities analysts have issued reports on BYD shares. Zacks Investment Research downgraded Boyd Gaming from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. SunTrust Banks reduced their price target on Boyd Gaming to $38.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Morgan Stanley restated an “equal weight” rating and set a $34.00 price target (down from $35.00) on shares of Boyd Gaming in a report on Wednesday, February 21st. Barclays upgraded Boyd Gaming from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $33.00 to $40.00 in a report on Tuesday, May 1st. Finally, ValuEngine upgraded Boyd Gaming from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Boyd Gaming currently has a consensus rating of “Buy” and an average price target of $37.92.

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.

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Institutional Ownership by Quarter for Boyd Gaming (NYSE:BYD)

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