PNC Financial Services Group Inc. Purchases 9,928 Shares of Boyd Gaming Co. (NYSE:BYD)

PNC Financial Services Group Inc. raised its position in shares of Boyd Gaming Co. (NYSE:BYD) by 517.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,848 shares of the company’s stock after acquiring an additional 9,928 shares during the period. PNC Financial Services Group Inc.’s holdings in Boyd Gaming were worth $749,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Deutsche Bank AG raised its position in shares of Boyd Gaming by 275.1% in the third quarter. Deutsche Bank AG now owns 136,745 shares of the company’s stock valued at $8,650,000 after buying an additional 100,294 shares in the last quarter. Versor Investments LP acquired a new stake in shares of Boyd Gaming in the third quarter valued at approximately $725,000. AdvisorShares Investments LLC raised its position in shares of Boyd Gaming by 25.6% in the third quarter. AdvisorShares Investments LLC now owns 18,365 shares of the company’s stock valued at $1,162,000 after buying an additional 3,749 shares in the last quarter. Treasurer of the State of North Carolina raised its position in shares of Boyd Gaming by 3.5% in the third quarter. Treasurer of the State of North Carolina now owns 29,559 shares of the company’s stock valued at $1,870,000 after buying an additional 989 shares in the last quarter. Finally, Dupont Capital Management Corp acquired a new stake in shares of Boyd Gaming in the third quarter valued at approximately $899,000. Institutional investors own 66.73% of the company’s stock.

NYSE BYD opened at $60.69 on Friday. The firm’s fifty day moving average price is $62.15 and its two-hundred day moving average price is $61.51. The stock has a market cap of $6.82 billion, a PE ratio of 15.80, a PEG ratio of 0.29 and a beta of 2.06. Boyd Gaming Co. has a fifty-two week low of $44.42 and a fifty-two week high of $71.00. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.23 and a current ratio of 1.26.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Monday, October 25th. The company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. The firm had revenue of $843.06 million for the quarter, compared to analysts’ expectations of $839.74 million. Boyd Gaming had a net margin of 13.99% and a return on equity of 36.91%. The company’s revenue was up 29.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share. As a group, sell-side analysts predict that Boyd Gaming Co. will post 5.02 earnings per share for the current fiscal year.

A number of research firms have recently weighed in on BYD. Stifel Nicolaus lifted their price target on shares of Boyd Gaming from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, October 27th. Morgan Stanley boosted their price objective on shares of Boyd Gaming from $82.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 20th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Boyd Gaming from $81.00 to $78.00 and set a “buy” rating for the company in a research report on Monday, November 29th. Raymond James upgraded shares of Boyd Gaming to a “strong-buy” rating in a research report on Thursday, December 9th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $92.00 price objective on shares of Boyd Gaming in a research report on Thursday, October 21st. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $83.63.

In related news, VP William R. Boyd sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 3rd. The shares were sold at an average price of $67.54, for a total value of $1,013,100.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 27.94% of the company’s stock.

Boyd Gaming Profile

Boyd Gaming Corp. engages in the management and operation of gaming and entertainment properties. It operates through the following segments: Las Vegas Locals, Downtown Las Vegas and Midwest & South. The Las Vegas Locals segment consists of casinos that serve the resident population of the Las Vegas metropolitan area.

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Institutional Ownership by Quarter for Boyd Gaming (NYSE:BYD)

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