Schwab Charles Investment Management Inc. Raises Position in Boyd Gaming Corporation (BYD)

Schwab Charles Investment Management Inc. raised its stake in shares of Boyd Gaming Corporation (NYSE:BYD) by 15.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 441,350 shares of the company’s stock after buying an additional 58,537 shares during the period. Schwab Charles Investment Management Inc. owned 0.39% of Boyd Gaming Corporation worth $9,715,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. raised its position in shares of Boyd Gaming Corporation by 105,482.6% in the first quarter. BlackRock Inc. now owns 10,413,612 shares of the company’s stock valued at $229,205,000 after buying an additional 10,403,749 shares during the period. Vanguard Group Inc. raised its position in Boyd Gaming Corporation by 2.4% in the first quarter. Vanguard Group Inc. now owns 9,726,723 shares of the company’s stock valued at $214,085,000 after buying an additional 227,769 shares during the last quarter. JPMorgan Chase & Co. raised its position in Boyd Gaming Corporation by 1.9% in the first quarter. JPMorgan Chase & Co. now owns 1,907,997 shares of the company’s stock valued at $41,996,000 after buying an additional 36,263 shares during the last quarter. Bank of New York Mellon Corp raised its position in Boyd Gaming Corporation by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 1,089,574 shares of the company’s stock valued at $23,981,000 after buying an additional 20,815 shares during the last quarter. Finally, Mesirow Financial Investment Management Equity Management raised its position in Boyd Gaming Corporation by 15.3% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 1,064,825 shares of the company’s stock valued at $23,437,000 after buying an additional 140,960 shares during the last quarter. 71.00% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Boyd Gaming Corporation (NYSE:BYD) opened at 26.20 on Friday. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 6.92 and a beta of 1.93. Boyd Gaming Corporation has a 12-month low of $16.77 and a 12-month high of $26.87. The firm’s 50-day moving average price is $25.53 and its 200 day moving average price is $23.17.

Boyd Gaming Corporation (NYSE:BYD) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.04. The company had revenue of $599.87 million for the quarter, compared to analysts’ expectations of $602.39 million. Boyd Gaming Corporation had a return on equity of 13.31% and a net margin of 19.15%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.16 EPS. On average, analysts predict that Boyd Gaming Corporation will post $1.10 earnings per share for the current year.

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Several equities analysts recently issued reports on the company. Instinet raised their price target on Boyd Gaming Corporation from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, May 4th. BidaskClub upgraded Boyd Gaming Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday. Bank of America Corporation reiterated a “neutral” rating and issued a $27.00 price objective (up from $25.00) on shares of Boyd Gaming Corporation in a research report on Monday, June 5th. Zacks Investment Research upgraded Boyd Gaming Corporation from a “hold” rating to a “strong-buy” rating and set a $25.00 target price for the company in a research note on Tuesday, April 18th. Finally, Barclays PLC raised their target price on Boyd Gaming Corporation from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 1st. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Boyd Gaming Corporation has an average rating of “Buy” and an average target price of $26.87.

In other news, VP William R. Boyd sold 10,000 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $26.55, for a total value of $265,500.00. Following the transaction, the vice president now owns 8,251 shares of the company’s stock, valued at approximately $219,064.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider William S. Boyd sold 76,531 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $25.18, for a total transaction of $1,927,050.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 183,816 shares of company stock worth $4,672,840. 29.16% of the stock is currently owned by insiders.

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.

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

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