Pier Capital LLC Grows Stake in Boyd Gaming Co. (BYD)
Pier Capital LLC grew its stake in shares of Boyd Gaming Co. (NYSE:BYD) by 32.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 209,673 shares of the company’s stock after acquiring an additional 51,892 shares during the period. Pier Capital LLC owned about 0.19% of Boyd Gaming worth $7,267,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. HL Financial Services LLC increased its position in shares of Boyd Gaming by 6.2% in the first quarter. HL Financial Services LLC now owns 150,416 shares of the company’s stock valued at $4,792,000 after buying an additional 8,829 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Boyd Gaming by 73.8% in the first quarter. Wells Fargo & Company MN now owns 279,156 shares of the company’s stock valued at $8,894,000 after buying an additional 118,531 shares in the last quarter. Advantus Capital Management Inc purchased a new position in shares of Boyd Gaming in the first quarter valued at $319,000. Swiss National Bank increased its position in shares of Boyd Gaming by 3.5% in the first quarter. Swiss National Bank now owns 147,300 shares of the company’s stock valued at $4,693,000 after buying an additional 5,000 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Boyd Gaming in the first quarter valued at $443,000. 73.63% of the stock is owned by hedge funds and other institutional investors.
BYD opened at $35.66 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 3.05. The firm has a market cap of $3.94 billion, a P/E ratio of 34.62 and a beta of 1.69. Boyd Gaming Co. has a 52 week low of $24.52 and a 52 week high of $40.44.
A number of research analysts have recently weighed in on the company. ValuEngine cut Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 8th. Jefferies Financial Group upgraded Boyd Gaming from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Tuesday. Morgan Stanley raised their price target on Boyd Gaming from $35.00 to $37.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 26th. Zacks Investment Research cut Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Finally, JPMorgan Chase & Co. raised their price target on Boyd Gaming from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $40.75.
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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