First Republic Investment Management adds Boyd Gaming Corporation (BYD) to its portfolio

Boyd Gaming Corporation (BYD) : First Republic Investment Management added new position in Boyd Gaming Corporation during the most recent quarter end. The investment management firm now holds 5,309,659 shares of Boyd Gaming Corporation which is valued at $100.7 Million , the company said in a statement filed on May 13, 2016 with the SEC.Boyd Gaming Corporation makes up approximately 0.92% of First Republic Investment Management’s portfolio.

Other Hedge Funds, Including , Quadrature Capital Ltd added BYD to its portfolio by purchasing 14,501 company shares during the most recent quarter which is valued at $274,939. Boyd Gaming Corporation makes up approx 0.04% of Quadrature Capital Ltd’s portfolio.United Services Automobile Association boosted its stake in BYD in the latest quarter, The investment management firm added 52,900 additional shares and now holds a total of 136,100 shares of Boyd Gaming Corporation which is valued at $2.6 Million. Boyd Gaming Corporation makes up approx 0.01% of United Services Automobile Association’s portfolio. Mufg Americas Holdings Corp added BYD to its portfolio by purchasing 525 company shares during the most recent quarter which is valued at $9,954.Blackrock Advisors reduced its stake in BYD by selling 23,594 shares or 12.5% in the most recent quarter. The Hedge Fund company now holds 165,188 shares of BYD which is valued at $3.1 Million.Schwab Charles Investment Management Inc reduced its stake in BYD by selling 7,875 shares or 2.38% in the most recent quarter. The Hedge Fund company now holds 322,694 shares of BYD which is valued at $6 Million. Boyd Gaming Corporation makes up approx 0.01% of Schwab Charles Investment Management Inc’s portfolio.

Boyd Gaming Corporation opened for trading at $18.44 and hit $18.705 on the upside on Wednesday, eventually ending the session at $18.54, with a gain of 0.76% or 0.14 points. The heightened volatility saw the trading volume jump to 12,63,735 shares. Company has a market cap of $2,078 M.

On the company’s financial health, Boyd Gaming Corporation reported $0.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.25. The company had revenue of $552.40 million for the quarter, compared to analysts expectations of $564.94 million. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS.

Many Wall Street Analysts have commented on Boyd Gaming Corporation. Company shares were Reiterated by Barclays on Feb 18, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 21 from a previous price target of $19 .Company shares were Reiterated by Telsey Advisory Group on Feb 17, 2016 to “Outperform”, Firm has raised the Price Target to $ 24 from a previous price target of $23 .

Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operates 22 properties in Nevada Illinois Indiana Iowa Kansas Louisiana Mississippi and New Jersey. The Company owns and manages 1268345 square feet of casino space containing 30392 slot machines 777 table games and 11391 hotel rooms. The Company operates in five segments: Las Vegas Locals; Downtown Las Vegas; Midwest and South; Peninsula and Borgata.

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