New Age Alpha Advisors LLC Decreases Stake in Boyd Gaming Corporation (NYSE:BYD)

Key Points

• New Age Alpha Advisors LLC reduced its stake in Boyd Gaming Corporation by 44.6%, selling 6,600 shares and now holding 8,202 shares worth approximately $540,000.
• Insider sales include Stephen S. Thompson offloading 15,906 shares for about $1.32 million, representing a 29.18% decrease in ownership.
• Boyd Gaming's latest earnings report showed an EPS of $1.87, exceeding estimates, and a 6.9% increase in revenue compared to the previous year.

New Age Alpha Advisors LLC decreased its position in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) by 44.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,202 shares of the company's stock after selling 6,600 shares during the quarter. New Age Alpha Advisors LLC's holdings in Boyd Gaming were worth $540,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BYD. Louisiana State Employees Retirement System increased its holdings in Boyd Gaming by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the company's stock valued at $1,224,000 after acquiring an additional 200 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Boyd Gaming by 0.4% in the 1st quarter. State of Alaska Department of Revenue now owns 47,753 shares of the company's stock worth $3,143,000 after buying an additional 205 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its holdings in shares of Boyd Gaming by 7.1% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,000 shares of the company's stock worth $263,000 after buying an additional 265 shares during the last quarter. Choreo LLC increased its holdings in shares of Boyd Gaming by 0.9% in the 1st quarter. Choreo LLC now owns 30,164 shares of the company's stock worth $1,991,000 after buying an additional 271 shares during the last quarter. Finally, CoreCap Advisors LLC increased its holdings in shares of Boyd Gaming by 91.0% in the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock worth $42,000 after buying an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 76.81% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on BYD. Raymond James Financial boosted their target price on shares of Boyd Gaming from $81.00 to $85.00 and gave the stock an "outperform" rating in a report on Monday, June 30th. Stifel Nicolaus upped their price target 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 reiterated a "sell" rating on shares of Boyd Gaming in a report on Friday, July 11th. Susquehanna downgraded shares of Boyd Gaming from a "positive" rating to a "neutral" rating and upped their price target for the company from $76.00 to $86.00 in a report on Friday, July 11th. Finally, JPMorgan Chase & Co. started coverage on shares of Boyd Gaming in a report on Monday, June 23rd. They set a "neutral" rating and a $79.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $86.62.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, COO Ted Bogich sold 16,497 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were 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 in the company, valued at $3,752,748.88. This trade represents a 26.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen S. Thompson sold 15,906 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider owned 38,609 shares of the company's stock, valued at approximately $3,214,199.25. This trade represents a 29.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.97% of the stock is owned by company insiders.

Boyd Gaming Stock Up 2.4%

Shares of BYD traded up $1.92 during trading hours on Tuesday, hitting $83.36. The company had a trading volume of 1,250,695 shares, compared to its average volume of 1,067,651. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53. The company has a market capitalization of $6.68 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 2.78 and a beta of 1.24. Boyd Gaming Corporation has a one year low of $55.91 and a one year high of $87.76. The company's fifty day moving average price is $80.03 and its two-hundred day moving average price is $74.35.

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, topping analysts' consensus estimates of $1.67 by $0.20. The firm had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $976.81 million. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%. The firm's quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 EPS. As a group, equities analysts forecast that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

About Boyd Gaming

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.