Moran Wealth Management LLC Lowers Stock Position in Boyd Gaming Co. (NYSE:BYD)

Moran Wealth Management LLC cut its stake in shares of Boyd Gaming Co. (NYSE:BYD) by 6.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,558 shares of the company’s stock after selling 2,701 shares during the period. Moran Wealth Management LLC’s holdings in Boyd Gaming were worth $2,675,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its stake in shares of Boyd Gaming by 300.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 194,582 shares of the company’s stock valued at $13,498,000 after buying an additional 145,968 shares during the period. BDO Wealth Advisors LLC lifted its holdings in shares of Boyd Gaming by 21.7% during the 2nd quarter. BDO Wealth Advisors LLC now owns 16,521 shares of the company’s stock valued at $1,146,000 after acquiring an additional 2,942 shares in the last quarter. Shellback Capital LP lifted its holdings in shares of Boyd Gaming by 11.4% during the 1st quarter. Shellback Capital LP now owns 489,500 shares of the company’s stock valued at $31,387,000 after acquiring an additional 50,000 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Boyd Gaming during the 2nd quarter valued at $635,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Boyd Gaming by 5.9% during the 1st quarter. Federated Hermes Inc. now owns 83,024 shares of the company’s stock valued at $5,323,000 after acquiring an additional 4,635 shares in the last quarter. 67.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on BYD shares. JPMorgan Chase & Co. reduced their target price on shares of Boyd Gaming from $79.00 to $72.00 and set an “overweight” rating on the stock in a report on Wednesday, October 25th. Morgan Stanley reduced their target price on shares of Boyd Gaming from $72.00 to $67.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 25th. Susquehanna reduced their target price on shares of Boyd Gaming from $87.00 to $84.00 and set a “positive” rating on the stock in a report on Tuesday, October 24th. StockNews.com started coverage on shares of Boyd Gaming in a report on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, Barclays cut their price objective on shares of Boyd Gaming from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, October 25th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $76.82.

Boyd Gaming Price Performance

BYD opened at $58.85 on Tuesday. The company has a 50-day moving average of $59.38 and a 200-day moving average of $64.76. The company has a market capitalization of $5.76 billion, a P/E ratio of 8.67, a PEG ratio of 3.81 and a beta of 1.73. Boyd Gaming Co. has a 1-year low of $52.42 and a 1-year high of $73.00. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.77 and a current ratio of 0.80.

Boyd Gaming (NYSE:BYD) last released its earnings results on Tuesday, October 24th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.08). The company had revenue of $903.16 million during the quarter, compared to the consensus estimate of $873.36 million. Boyd Gaming had a return on equity of 38.87% and a net margin of 18.89%. Equities analysts expect that Boyd Gaming Co. will post 6.11 EPS for the current fiscal year.

Boyd Gaming Company 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. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South.