Pinnacle Wealth Planning Services Inc. Takes Position in Boyd Gaming Corporation $BYD

Pinnacle Wealth Planning Services Inc. purchased a new position in Boyd Gaming Corporation (NYSE:BYD) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,083 shares of the company’s stock, valued at approximately $241,000.

A number of other large investors also recently bought and sold shares of BYD. Charles Schwab Investment Management Inc. grew its position in Boyd Gaming by 0.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 983,823 shares of the company’s stock valued at $64,765,000 after acquiring an additional 8,850 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Boyd Gaming by 14.2% during the first quarter. Northern Trust Corp now owns 682,518 shares of the company’s stock valued at $44,930,000 after purchasing an additional 85,087 shares during the period. Raymond James Financial Inc. grew its holdings in shares of Boyd Gaming by 7.5% in the first quarter. Raymond James Financial Inc. now owns 641,104 shares of the company’s stock worth $42,204,000 after purchasing an additional 44,558 shares during the last quarter. Bwcp LP increased its stake in Boyd Gaming by 6.1% in the 1st quarter. Bwcp LP now owns 519,231 shares of the company’s stock worth $34,181,000 after buying an additional 29,862 shares during the period. Finally, Invesco Ltd. increased its stake in Boyd Gaming by 0.8% in the 1st quarter. Invesco Ltd. now owns 471,822 shares of the company’s stock worth $31,060,000 after buying an additional 3,686 shares during the period. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Price Performance

NYSE BYD opened at $78.64 on Thursday. The company has a market cap of $6.14 billion, a PE ratio of 3.44, a P/E/G ratio of 2.02 and a beta of 1.31. The firm’s 50 day moving average price is $82.38 and its 200-day moving average price is $80.71. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86. Boyd Gaming Corporation has a 52-week low of $58.94 and a 52-week high of $88.49.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Tuesday, April 11th. The company reported $1.35 EPS for the quarter. The company had revenue of $707.32 million during the quarter. Boyd Gaming had a net margin of 46.02% and a return on equity of 41.97%. Sell-side analysts forecast that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Insider Buying and Selling

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 100,000 shares of Boyd Gaming stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $86.62, for a total value of $8,662,000.00. Following the transaction, the chairman owned 1,704,379 shares in the company, valued at $147,633,308.98. The trade was a 5.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Josh Hirsberg sold 40,035 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $85.41, for a total transaction 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. This represents a 8.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 185,035 shares of company stock valued at $15,818,839. 27.94% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Zacks Research cut shares of Boyd Gaming from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Morgan Stanley lifted their price target on shares of Boyd Gaming from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. Stifel Nicolaus increased their price objective on Boyd Gaming from $87.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, July 25th. Raymond James Financial reaffirmed an “outperform” rating on shares of Boyd Gaming in a research report on Monday, September 8th. Finally, Wells Fargo & Company began coverage on Boyd Gaming in a report on Tuesday. They issued an “equal weight” rating and a $85.00 target price for the company. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $89.83.

About Boyd Gaming

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.