CIBC World Markets Inc. Has $2.48 Million Stake in Boyd Gaming Co. (NYSE:BYD)

CIBC World Markets Inc. raised its position in Boyd Gaming Co. (NYSE:BYD) by 138.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,984 shares of the company’s stock after purchasing an additional 24,379 shares during the quarter. CIBC World Markets Inc.’s holdings in Boyd Gaming were worth $2,475,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in shares of Boyd Gaming by 2.5% in the 4th quarter. Principal Financial Group Inc. now owns 238,233 shares of the company’s stock valued at $10,225,000 after purchasing an additional 5,861 shares during the period. Stifel Financial Corp grew its holdings in shares of Boyd Gaming by 5.3% in the 4th quarter. Stifel Financial Corp now owns 47,460 shares of the company’s stock valued at $2,037,000 after acquiring an additional 2,368 shares in the last quarter. Baird Financial Group Inc. bought a new position in shares of Boyd Gaming in the 4th quarter valued at about $203,000. EAM Investors LLC bought a new position in shares of Boyd Gaming in the 1st quarter valued at about $2,472,000. Finally, Jaffetilchin Investment Partners LLC bought a new position in shares of Boyd Gaming in the 1st quarter valued at about $211,000. 68.25% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Boyd Gaming from $71.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, April 28th. KeyCorp raised their price objective on Boyd Gaming from $61.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, April 8th. Morgan Stanley lifted their price target on Boyd Gaming from $66.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, April 28th. Zacks Investment Research upgraded Boyd Gaming from a “hold” rating to a “strong-buy” rating and set a $76.00 price target for the company in a report on Friday, April 30th. Finally, TheStreet upgraded Boyd Gaming from a “c+” rating to a “b” rating in a report on Friday, May 28th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $52.07.

In other Boyd Gaming news, CEO Keith Smith sold 75,000 shares of the business’s stock in a transaction on Monday, May 24th. The shares were sold at an average price of $60.88, for a total transaction of $4,566,000.00. Following the sale, the chief executive officer now owns 1,326,958 shares of the company’s stock, valued at $80,785,203.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP William R. Boyd sold 30,000 shares of the business’s stock in a transaction on Wednesday, May 5th. The stock was sold at an average price of $67.25, for a total transaction of $2,017,500.00. Following the sale, the vice president now directly owns 23,084 shares in the company, valued at approximately $1,552,399. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,068 shares of company stock valued at $8,170,806. Company insiders own 27.94% of the company’s stock.

NYSE BYD opened at $61.62 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.55 and a debt-to-equity ratio of 3.14. Boyd Gaming Co. has a 1-year low of $17.43 and a 1-year high of $71.00. The company has a 50 day simple moving average of $63.70. The firm has a market capitalization of $6.91 billion, a P/E ratio of 61.62, a price-to-earnings-growth ratio of 0.98 and a beta of 2.20.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Monday, April 26th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.44 by $0.49. Boyd Gaming had a net margin of 5.11% and a return on equity of 8.22%. The business had revenue of $753.31 million during the quarter, compared to the consensus estimate of $666.45 million. Research analysts predict that Boyd Gaming Co. will post 3.25 earnings per share for the current year.

Boyd Gaming 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 & South. As of March 8, 2021, the company operated 28 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

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

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