Parametric Portfolio Associates LLC Cuts Stock Holdings in Boyd Gaming Co. (NYSE:BYD)

Parametric Portfolio Associates LLC trimmed its holdings in shares of Boyd Gaming Co. (NYSE:BYD) by 6.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 264,452 shares of the company’s stock after selling 17,346 shares during the period. Parametric Portfolio Associates LLC’s holdings in Boyd Gaming were worth $16,261,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of BYD. Millennium Management LLC boosted its position in Boyd Gaming by 4,648.4% during the second quarter. Millennium Management LLC now owns 1,209,461 shares of the company’s stock valued at $74,370,000 after buying an additional 1,183,990 shares during the period. Morgan Stanley raised its stake in shares of Boyd Gaming by 48.0% during the second quarter. Morgan Stanley now owns 1,085,457 shares of the company’s stock valued at $66,745,000 after acquiring an additional 352,181 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Boyd Gaming during the second quarter valued at about $19,561,000. Susquehanna Fundamental Investments LLC raised its stake in shares of Boyd Gaming by 487.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 380,524 shares of the company’s stock valued at $23,398,000 after acquiring an additional 315,800 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Boyd Gaming during the second quarter valued at about $17,537,000. Institutional investors and hedge funds own 64.88% of the company’s stock.

Several equities analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of Boyd Gaming from $82.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 20th. Stifel Nicolaus increased their price target on shares of Boyd Gaming from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, October 27th. Truist Securities upped their price objective on shares of Boyd Gaming from $73.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Wells Fargo & Company restated an “overweight” rating and issued a $92.00 price objective on shares of Boyd Gaming in a report on Thursday, October 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $78.00 price objective on shares of Boyd Gaming in a report on Wednesday, July 28th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Boyd Gaming currently has a consensus rating of “Buy” and a consensus target price of $79.56.

BYD stock opened at $61.89 on Thursday. The firm’s fifty day simple moving average is $64.16 and its 200-day simple moving average is $61.36. Boyd Gaming Co. has a 12 month low of $37.80 and a 12 month high of $71.00. The company has a market capitalization of $6.95 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 0.28 and a beta of 2.04. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.26 and a quick ratio of 1.23.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Monday, October 25th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.04. Boyd Gaming had a net margin of 13.99% and a return on equity of 36.91%. The firm had revenue of $843.06 million for the quarter, compared to the consensus estimate of $839.74 million. During the same period in the prior year, the firm posted $0.38 earnings per share. The firm’s quarterly revenue was up 29.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Boyd Gaming Co. will post 4.85 earnings per share for the current year.

In other Boyd Gaming news, VP William R. Boyd sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 3rd. The shares were sold at an average price of $67.54, for a total transaction of $1,013,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 27.94% of the company’s stock.

About Boyd Gaming

Boyd Gaming Corp. engages in the management and operation of gaming and entertainment properties. It operates through the following segments: Las Vegas Locals, Downtown Las Vegas and Midwest & South. The Las Vegas Locals segment consists of casinos that serve the resident population of the Las Vegas metropolitan area.

Featured Article: Special Purpose Acquisition Company (SPAC)

Want to see what other hedge funds are holding BYD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boyd Gaming Co. (NYSE:BYD).

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

Receive News & Ratings for Boyd Gaming Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boyd Gaming and related companies with MarketBeat.com's FREE daily email newsletter.