Zurcher Kantonalbank Zurich Cantonalbank Sells 3,437 Shares of Boyd Gaming Corporation (NYSE:BYD)

Key Points

• Zurcher Kantonalbank reduced its stake in Boyd Gaming Corporation by 20.2%, now holding 13,549 shares valued at approximately $892,000.
• Boyd Gaming reported an EPS of $1.87 for the last quarter, exceeding analysts' estimates of $1.67, with revenues of $1.03 billion.
• Insiders, including COO Ted Bogich and Stephen S. Thompson, have sold a significant number of shares, resulting in a 29.18% and 26.78% decrease in their ownership, respectively.

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) by 20.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,549 shares of the company's stock after selling 3,437 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Boyd Gaming were worth $892,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of BYD. CoreCap Advisors LLC boosted its position in Boyd Gaming by 91.0% during the fourth quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock valued at $42,000 after acquiring an additional 273 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Boyd Gaming by 68.0% during the first quarter. GAMMA Investing LLC now owns 773 shares of the company's stock worth $51,000 after purchasing an additional 313 shares during the period. UMB Bank n.a. lifted its holdings in shares of Boyd Gaming by 156.0% in the 1st quarter. UMB Bank n.a. now owns 1,006 shares of the company's stock worth $66,000 after purchasing an additional 613 shares in the last quarter. Investment Counsel Co. of Nevada bought a new position in shares of Boyd Gaming in the fourth quarter valued at $73,000. Finally, Golden State Wealth Management LLC increased its holdings in Boyd Gaming by 76.9% during the 1st quarter. Golden State Wealth Management LLC now owns 1,636 shares of the company's stock worth $108,000 after purchasing an additional 711 shares in the last quarter. Institutional investors own 76.81% of the company's stock.

Boyd Gaming Stock Down 1.5%

NYSE BYD traded down $1.22 during mid-day trading on Thursday, reaching $82.08. The stock had a trading volume of 1,464,612 shares, compared to its average volume of 1,064,667. The stock has a market cap of $6.58 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 2.82 and a beta of 1.24. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.86 and a quick ratio of 0.82. Boyd Gaming Corporation has a 1 year low of $54.83 and a 1 year high of $87.76. The company has a fifty day moving average price of $79.61 and a 200 day moving average price of $74.23.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates of $1.67 by $0.20. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $976.81 million. During the same quarter in the prior year, the firm earned $1.58 earnings per share. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. On average, research analysts expect that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BYD shares. JPMorgan Chase & Co. began coverage on Boyd Gaming in a report on Monday, June 23rd. They issued a "neutral" rating and a $79.00 target price for the company. Morgan Stanley reiterated a "sell" rating on shares of Boyd Gaming in a research note on Friday, July 11th. Macquarie increased their price target on shares of Boyd Gaming from $74.00 to $88.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Mizuho lifted their price objective on shares of Boyd Gaming from $86.00 to $89.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, Raymond James Financial increased their target price on shares of Boyd Gaming from $81.00 to $85.00 and gave the company an "outperform" rating in a research report on Monday, June 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $86.62.

Insiders Place Their Bets

In other Boyd Gaming news, COO Ted Bogich sold 16,497 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $83.18, for a total value of $1,372,220.46. Following the transaction, the chief operating officer owned 45,116 shares of the company's stock, valued at approximately $3,752,748.88. This represents a 26.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen S. Thompson sold 15,906 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $83.25, for a total transaction of $1,324,174.50. Following the sale, the insider directly owned 38,609 shares of the company's stock, valued at approximately $3,214,199.25. The trade was a 29.18% decrease in their position. The disclosure for this sale can be found here. Company insiders own 27.94% of the company's stock.

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.