3,646 Shares in Boyd Gaming Corporation (NYSE:BYD) Purchased by Ontario Teachers Pension Plan Board

Key Points

• The Ontario Teachers Pension Plan Board invested approximately $240,000 in Boyd Gaming Corporation by purchasing 3,646 shares in the first quarter.
• Boyd Gaming reported earnings of $1.87 per share for the most recent quarter, exceeding analysts' expectations of $1.67, and its revenue grew by 6.9% year-over-year.
• Following sales of stock by company insiders, approximately 27.94% of Boyd Gaming's shares are now held by insiders, reflecting significant changes in ownership dynamics.

Ontario Teachers Pension Plan Board bought a new position in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,646 shares of the company's stock, valued at approximately $240,000.

Several other large investors also recently bought and sold shares of BYD. Deutsche Bank AG lifted its stake in shares of Boyd Gaming by 22.7% in the 1st quarter. Deutsche Bank AG now owns 252,559 shares of the company's stock valued at $16,626,000 after purchasing an additional 46,791 shares during the period. Charles Schwab Investment Management Inc. increased its position in Boyd Gaming by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 983,823 shares of the company's stock worth $64,765,000 after purchasing an additional 8,850 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in Boyd Gaming during the first quarter worth about $5,329,000. Baker Avenue Asset Management LP purchased a new position in shares of Boyd Gaming in the first quarter valued at approximately $232,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Boyd Gaming in the first quarter valued at approximately $443,000. Hedge funds and other institutional investors own 76.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BYD. Barclays raised their price objective on shares of Boyd Gaming from $73.00 to $87.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Stifel Nicolaus upped their price target on shares of Boyd Gaming from $87.00 to $90.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. Morgan Stanley restated a "sell" rating on shares of Boyd Gaming in a report on Friday, July 11th. JPMorgan Chase & Co. assumed coverage on shares of Boyd Gaming in a report on Monday, June 23rd. They issued a "neutral" rating and a $79.00 target price on the stock. Finally, Truist Financial upped their target price on shares of Boyd Gaming from $85.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $86.62.

Boyd Gaming Trading Up 2.4%

BYD traded up $1.92 on Tuesday, reaching $83.36. 1,250,718 shares of the company's stock were exchanged, compared to its average volume of 1,347,308. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86. Boyd Gaming Corporation has a twelve month low of $55.91 and a twelve month high of $87.76. The company's 50 day moving average is $80.20 and its 200-day moving average is $74.41. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 2.75 and a beta of 1.24.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.67 by $0.20. The company 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 business's 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. Equities analysts predict that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, insider Stephen S. Thompson sold 15,906 shares of the stock in a transaction on 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 sale, the insider directly owned 38,609 shares of the company's stock, valued at $3,214,199.25. This trade represents a 29.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Ted Bogich sold 16,497 shares of the firm's stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. Company insiders own 21.97% 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.