Glenmede Trust Co. NA Decreases Position in Boyd Gaming Co. (NYSE:BYD)

Glenmede Trust Co. NA reduced its stake in Boyd Gaming Co. (NYSE:BYD) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 226,710 shares of the company’s stock after selling 3,048 shares during the period. Glenmede Trust Co. NA owned 0.26% of Boyd Gaming worth $14,657,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Townsquare Capital LLC purchased a new position in shares of Boyd Gaming in the 3rd quarter valued at $200,000. BNP Paribas Financial Markets grew its holdings in shares of Boyd Gaming by 22.6% during the third quarter. BNP Paribas Financial Markets now owns 18,910 shares of the company’s stock worth $1,223,000 after purchasing an additional 3,480 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Boyd Gaming by 113.9% during the third quarter. Dynamic Technology Lab Private Ltd now owns 30,658 shares of the company’s stock worth $1,982,000 after purchasing an additional 16,325 shares in the last quarter. Centaurus Financial Inc. lifted its holdings in shares of Boyd Gaming by 62.0% in the 3rd quarter. Centaurus Financial Inc. now owns 6,587 shares of the company’s stock valued at $426,000 after purchasing an additional 2,522 shares during the last quarter. Finally, Algert Global LLC boosted its position in shares of Boyd Gaming by 183.4% in the 3rd quarter. Algert Global LLC now owns 142,003 shares of the company’s stock valued at $9,180,000 after purchasing an additional 91,900 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

Boyd Gaming Stock Up 0.1 %

Boyd Gaming stock opened at $73.10 on Friday. The stock’s 50 day moving average price is $67.82 and its 200 day moving average price is $60.45. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $74.78. The company has a market cap of $6.46 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 9.58 and a beta of 1.55. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79.

Wall Street Analyst Weigh In

BYD has been the subject of a number of research reports. Stifel Nicolaus boosted their price objective on Boyd Gaming from $67.00 to $74.00 and gave the company a “hold” rating in a research note on Friday, October 25th. StockNews.com upgraded shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Wells Fargo & Company raised their price objective on shares of Boyd Gaming from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Morgan Stanley increased their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. raised their price target on Boyd Gaming from $68.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.38.

Insiders Place Their Bets

In related news, Director William R. Boyd sold 25,155 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $69.35, for a total transaction of $1,744,499.25. Following the sale, the director now owns 1,487,970 shares of the company’s stock, valued at approximately $103,190,719.50. The trade was a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Josh Hirsberg sold 21,549 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $71.43, for a total transaction of $1,539,245.07. Following the completion of the transaction, the chief financial officer now directly owns 438,615 shares of the company’s stock, valued at approximately $31,330,269.45. This trade represents a 4.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 146,704 shares of company stock worth $10,540,944. Corporate insiders own 28.40% 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.