Envestnet Asset Management Inc. Purchases 9,116 Shares of Boyd Gaming Corporation $BYD

Envestnet Asset Management Inc. grew its position in shares of Boyd Gaming Corporation (NYSE:BYD) by 14.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,380 shares of the company’s stock after buying an additional 9,116 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Boyd Gaming were worth $5,584,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Linden Thomas Advisory Services LLC boosted its holdings in shares of Boyd Gaming by 7.2% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 21,269 shares of the company’s stock worth $1,664,000 after acquiring an additional 1,433 shares in the last quarter. State of New Jersey Common Pension Fund D raised its position in Boyd Gaming by 1.6% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 25,684 shares of the company’s stock valued at $2,009,000 after purchasing an additional 393 shares during the last quarter. Chicago Partners Investment Group LLC bought a new position in Boyd Gaming in the 2nd quarter valued at $393,000. International Assets Investment Management LLC acquired a new position in Boyd Gaming in the second quarter worth $223,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Boyd Gaming during the second quarter worth $1,315,000. Institutional investors and hedge funds own 76.81% of the company’s stock.

Insider Activity

In other news, CFO Josh Hirsberg sold 40,035 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $85.41, for a total value of $3,419,389.35. Following the completion of the transaction, the chief financial officer owned 420,185 shares of the company’s stock, valued at $35,888,000.85. The trade was a 8.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William R. Boyd sold 20,000 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the completion of the sale, the director owned 1,960,447 shares of the company’s stock, valued at approximately $157,541,520.92. This represents a 1.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 260,035 shares of company stock valued at $22,071,089. 21.97% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BYD has been the subject of a number of research reports. Zacks Research lowered Boyd Gaming from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Macquarie restated a “neutral” rating and issued a $90.00 price objective on shares of Boyd Gaming in a research report on Friday, October 24th. Stifel Nicolaus upped their target price on shares of Boyd Gaming from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, July 25th. Barclays increased their price target on shares of Boyd Gaming from $73.00 to $87.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. Finally, Mizuho boosted their price objective on shares of Boyd Gaming from $89.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Seven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $90.08.

Boyd Gaming Price Performance

Boyd Gaming stock opened at $80.88 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53. The firm has a market capitalization of $6.32 billion, a P/E ratio of 3.53, a PEG ratio of 2.02 and a beta of 1.31. The business has a 50-day moving average of $83.06 and a 200-day moving average of $80.37. Boyd Gaming Corporation has a 1 year low of $58.94 and a 1 year high of $88.49.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Tuesday, April 11th. The company reported $1.35 earnings per share for the quarter. The business had revenue of $707.32 million for the quarter. Boyd Gaming had a net margin of 46.02% and a return on equity of 41.97%. On average, equities analysts anticipate that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming 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.