6,725 Shares in Boyd Gaming Corporation (NYSE:BYD) Bought by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. acquired 6,725 shares of Boyd Gaming Corporation, valued at approximately $443,000, indicating institutional interest in the company.
• A majority of analysts maintain a consensus rating of “Hold” on Boyd Gaming, with an average target price of $86.62, reflecting varied opinions on its stock performance.
• Boyd Gaming reported earnings of $1.87 per share for the last quarter, surpassing analysts’ expectations and achieving a 6.9% increase in revenue year-over-year.

Jefferies Financial Group Inc. purchased a new stake in Boyd Gaming Corporation (NYSE:BYD - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 6,725 shares of the company's stock, valued at approximately $443,000.

Several other institutional investors also recently bought and sold shares of the company. Cohen & Steers Inc. lifted its position in shares of Boyd Gaming by 0.4% in the fourth quarter. Cohen & Steers Inc. now owns 5,265,454 shares of the company's stock valued at $381,929,000 after acquiring an additional 21,616 shares in the last quarter. Victory Capital Management Inc. raised its stake in Boyd Gaming by 13.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company's stock valued at $69,036,000 after purchasing an additional 122,822 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Boyd Gaming by 1.1% in the 1st quarter. Bank of New York Mellon Corp now owns 692,496 shares of the company's stock valued at $45,587,000 after purchasing an additional 7,400 shares in the last quarter. Northern Trust Corp boosted its stake in Boyd Gaming by 14.9% during the 4th quarter. Northern Trust Corp now owns 597,431 shares of the company's stock worth $43,338,000 after purchasing an additional 77,619 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Boyd Gaming during the 4th quarter worth $43,273,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BYD. JPMorgan Chase & Co. initiated coverage on shares of Boyd Gaming in a research report on Monday, June 23rd. They issued a "neutral" rating and a $79.00 target price for the company. Stifel Nicolaus increased their price objective on shares of Boyd Gaming from $87.00 to $90.00 and gave the company a "hold" rating in a report on Friday, July 25th. Morgan Stanley restated a "sell" rating on shares of Boyd Gaming in a report on Friday, July 11th. Truist Financial upped their price target on Boyd Gaming from $85.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Finally, Mizuho increased their price target on Boyd Gaming from $86.00 to $89.00 and gave the company an "outperform" rating in a report on Friday, July 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Boyd Gaming currently has a consensus rating of "Hold" and an average price target of $86.62.

Insider Buying and Selling

In other news, COO Ted Bogich sold 16,497 shares of Boyd Gaming stock in a transaction on 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 completion of the sale, the chief operating officer directly owned 45,116 shares of the company's stock, valued at approximately $3,752,748.88. The trade was a 26.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen S. Thompson sold 15,906 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $83.25, for a total value of $1,324,174.50. Following the transaction, the insider directly owned 38,609 shares in the company, 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 Trading Down 0.2%

Shares of NYSE BYD traded down $0.20 during mid-day trading on Friday, reaching $81.93. 1,166,978 shares of the company's stock were exchanged, compared to its average volume of 1,496,264. The company's 50-day moving average is $79.88 and its 200-day moving average is $74.31. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 2.78 and a beta of 1.24. Boyd Gaming Corporation has a 52-week low of $55.55 and a 52-week high of $87.76.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $1.87 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $976.81 million. During the same quarter last year, the firm posted $1.58 earnings per share. Boyd Gaming's revenue was up 6.9% compared to the same quarter last year. Analysts expect that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

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.