Point72 Asset Management LP Has Cut Boyd Gaming Corp (BYD) Position as Stock Price Declined

May 18, 2018 - By Christine Ryals

Boyd Gaming Corporation (NYSE:BYD) LogoInvestors sentiment decreased to 0.86 in 2017 Q4. Its down 0.25, from 1.11 in 2017Q3. It dived, as 35 investors sold BYD shares while 68 reduced holdings. 40 funds opened positions while 49 raised stakes. 82.05 million shares or 3.44% less from 84.97 million shares in 2017Q3 were reported. Texas Permanent School Fund reported 0.02% in Boyd Gaming Corporation (NYSE:BYD). Miles Capital Inc, Iowa-based fund reported 6,089 shares. 22,835 were accumulated by Federated Investors Pa. Legal General Grp Public Limited Company invested in 0% or 166,658 shares. Cornerstone Advsr Inc holds 0.01% or 300 shares in its portfolio. 24,600 were reported by Beacon Gp. State Of Tennessee Treasury Department has invested 0.01% in Boyd Gaming Corporation (NYSE:BYD). Advisory Svcs Net Ltd Com holds 0.02% of its portfolio in Boyd Gaming Corporation (NYSE:BYD) for 5,220 shares. Eaton Vance holds 0% or 32,682 shares in its portfolio. Tiaa Cref Ltd Liability accumulated 706,370 shares. Hwg LP invested 0.54% in Boyd Gaming Corporation (NYSE:BYD). Cubist Systematic Strategies Ltd Liability Company holds 12,190 shares. Wells Fargo & Co Mn accumulated 0% or 150,625 shares. Kbc Group Nv invested 0.02% of its portfolio in Boyd Gaming Corporation (NYSE:BYD). Assetmark owns 0% invested in Boyd Gaming Corporation (NYSE:BYD) for 26 shares.

Since February 28, 2018, it had 0 insider buys, and 8 sales for $12.12 million activity. 7,000 shares valued at $243,075 were sold by BOYD WILLIAM R on Monday, March 12. Shares for $835,671 were sold by Thompson Stephen S.. Shares for $3.04 million were sold by JOHNSON MARIANNE BOYD on Wednesday, March 14. Another trade for 70,000 shares valued at $2.51 million was made by SMITH KEITH on Wednesday, March 7. Another trade for 30,000 shares valued at $1.01 million was made by BOUGHNER ROBERT L on Monday, March 12.

Steve Cohen decreased its stake in Boyd Gaming Corp (BYD) by 30.69% based on its latest 2017Q4 regulatory filing with the SEC. Point72 Asset Management Lp sold 1.40 million shares as the company’s stock declined 9.78% with the market. The hedge fund run by Steve Cohen held 3.17 million shares of the hotels and resorts company at the end of 2017Q4, valued at $110.94M, down from 4.57M at the end of the previous reported quarter. Point72 Asset Management Lp who had been investing in Boyd Gaming Corp for a number of months, seems to be less bullish one the $4.15 billion market cap company. The stock increased 1.60% or $0.58 during the last trading session, reaching $36.88. About 1.67M shares traded or 4.24% up from the average. Boyd Gaming Corporation (NYSE:BYD) has risen 48.99% since May 18, 2017 and is uptrending. It has outperformed by 37.44% the S&P500.

Point72 Asset Management Lp, which manages about $23.17 billion US Long portfolio, upped its stake in Facebook Inc (NASDAQ:FB) by 30,206 shares to 730,206 shares, valued at $128.85 million in 2017Q4, according to the filing. It also increased its holding in Brookdale Sr Living Inc (Call) (NYSE:BKD) by 404,300 shares in the quarter, for a total of 818,900 shares, and has risen its stake in Dermira Inc (NASDAQ:DERM).

Analysts await Boyd Gaming Corporation (NYSE:BYD) to report earnings on July, 26. They expect $0.33 EPS, up 26.92 % or $0.07 from last year’s $0.26 per share. BYD’s profit will be $37.14M for 27.94 P/E if the $0.33 EPS becomes a reality. After $0.39 actual EPS reported by Boyd Gaming Corporation for the previous quarter, Wall Street now forecasts -15.38 % negative EPS growth.

More notable recent Boyd Gaming Corporation (NYSE:BYD) news were published by: Seekingalpha.com which released: “Susquehanna updates on Boyd Gaming” on May 02, 2018, also Seekingalpha.com with their article: “Margins on the rise at Boyd Gaming” published on April 27, 2018, Seekingalpha.com published: “All eyes on sports betting plays” on May 15, 2018. More interesting news about Boyd Gaming Corporation (NYSE:BYD) were released by: Schaeffersresearch.com and their article: “SCOTUS Ruling Sparks Bullish Options Betting on Casino Stocks” published on May 14, 2018 as well as Seekingalpha.com‘s news article titled: “4 Gaming Stocks For Second Half Of 2018” with publication date: May 17, 2018.

Boyd Gaming Corporation (NYSE:BYD) Ratings Coverage

Among 11 analysts covering Boyd Gaming (NYSE:BYD), 8 have Buy rating, 0 Sell and 3 Hold. Therefore 73% are positive. Boyd Gaming had 14 analyst reports since December 6, 2017 according to SRatingsIntel. The firm earned “Hold” rating on Wednesday, February 21 by Stifel Nicolaus. The stock has “Buy” rating by Bank of America on Friday, January 5. JP Morgan maintained it with “Overweight” rating and $39 target in Wednesday, February 21 report. The firm has “Buy” rating given on Tuesday, February 6 by Susquehanna. Deutsche Bank upgraded Boyd Gaming Corporation (NYSE:BYD) rating on Monday, December 18. Deutsche Bank has “Buy” rating and $37.0 target. The stock has “Hold” rating by Jefferies on Thursday, January 18. Barclays Capital upgraded the stock to “Overweight” rating in Tuesday, May 1 report. The stock of Boyd Gaming Corporation (NYSE:BYD) earned “Equal-Weight” rating by Barclays Capital on Wednesday, February 21. Deutsche Bank upgraded the stock to “Buy” rating in Wednesday, December 6 report. The firm has “Buy” rating by SunTrust given on Monday, February 5.

Boyd Gaming Corporation (NYSE:BYD) Institutional Positions Chart

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