Centaurus Financial Inc. Buys 2,522 Shares of Boyd Gaming Co. (NYSE:BYD)

Centaurus Financial Inc. grew its stake in Boyd Gaming Co. (NYSE:BYD) by 62.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,587 shares of the company’s stock after acquiring an additional 2,522 shares during the quarter. Centaurus Financial Inc.’s holdings in Boyd Gaming were worth $426,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Comerica Bank increased its stake in Boyd Gaming by 103.1% in the first quarter. Comerica Bank now owns 42,898 shares of the company’s stock valued at $2,888,000 after purchasing an additional 21,772 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Boyd Gaming by 11,891.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 62,117 shares of the company’s stock valued at $4,016,000 after buying an additional 61,599 shares during the period. Sei Investments Co. increased its position in shares of Boyd Gaming by 24.7% in the 2nd quarter. Sei Investments Co. now owns 497,331 shares of the company’s stock valued at $27,403,000 after buying an additional 98,508 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Boyd Gaming during the 2nd quarter worth $730,000. Finally, Ariel Investments LLC lifted its holdings in Boyd Gaming by 12.5% during the second quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock worth $167,046,000 after acquiring an additional 335,984 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Boyd Gaming Price Performance

NYSE:BYD opened at $73.04 on Wednesday. Boyd Gaming Co. has a 52-week low of $49.34 and a 52-week high of $74.78. The company has a market cap of $6.46 billion, a P/E ratio of 13.94, a P/E/G ratio of 9.49 and a beta of 1.55. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The stock’s 50-day simple moving average is $67.41 and its 200 day simple moving average is $60.22.

Analysts Set New Price Targets

BYD has been the subject of several recent analyst reports. Morgan Stanley increased their price target on Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Mizuho restated an “outperform” rating and set a $79.00 target price (up from $78.00) on shares of Boyd Gaming in a report on Friday, October 25th. StockNews.com raised shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Bank of America increased their price objective on shares of Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. upped their target price on shares of Boyd Gaming from $68.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Seven equities research 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 company. According to data from MarketBeat, Boyd Gaming currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.38.

Insiders Place Their Bets

In related news, CFO Josh Hirsberg sold 21,549 shares of Boyd Gaming stock in a transaction dated Wednesday, November 6th. The stock was 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 owns 438,615 shares in the company, valued at approximately $31,330,269.45. This trade represents a 4.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Keith Smith sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $72.15, for a total value of $2,164,500.00. Following the completion of the sale, the chief executive officer now owns 1,101,202 shares in the company, valued at $79,451,724.30. This represents a 2.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,834 shares of company stock valued at $14,945,564 in the last 90 days. 27.94% of the stock is currently owned by insiders.

Boyd Gaming Company 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.