Highline Capital Management buys $75,922,492 stake in Boyd Gaming Corporation (BYD)

Boyd Gaming Corporation (BYD) : Highline Capital Management scooped up 180,600 additional shares in Boyd Gaming Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 3,830,600 shares of Boyd Gaming Corporation which is valued at $75,922,492.Boyd Gaming Corporation makes up approximately 3.12% of Highline Capital Management’s portfolio.

Other Hedge Funds, Including , Envestnet Asset Management Inc boosted its stake in BYD in the latest quarter, The investment management firm added 4,392 additional shares and now holds a total of 10,104 shares of Boyd Gaming Corporation which is valued at $200,261.Renaissance Technologies reduced its stake in BYD by selling 38,600 shares or 4.41% in the most recent quarter. The Hedge Fund company now holds 837,500 shares of BYD which is valued at $16,599,250. Boyd Gaming Corporation makes up approx 0.03% of Renaissance Technologies’s portfolio.Blackrock Fund Advisors boosted its stake in BYD in the latest quarter, The investment management firm added 189,740 additional shares and now holds a total of 5,148,421 shares of Boyd Gaming Corporation which is valued at $102,041,704. Boyd Gaming Corporation makes up approx 0.02% of Blackrock Fund Advisors’s portfolio.New York State Common Retirement Fund reduced its stake in BYD by selling 84,638 shares or 23.23% in the most recent quarter. The Hedge Fund company now holds 279,783 shares of BYD which is valued at $5,545,299. Boyd Gaming Corporation makes up approx 0.01% of New York State Common Retirement Fund’s portfolio.Lebenthal Lisanti Capital Growth reduced its stake in BYD by selling 53,810 shares or 75.24% in the most recent quarter. The Hedge Fund company now holds 17,709 shares of BYD which is valued at $332,044. Boyd Gaming Corporation makes up approx 0.46% of Lebenthal Lisanti Capital Growth’s portfolio.

Boyd Gaming Corporation opened for trading at $19.66 and hit $19.91 on the upside on Thursday, eventually ending the session at $19.73, with a gain of 1.18% or 0.23 points. The heightened volatility saw the trading volume jump to 8,42,002 shares. Company has a market cap of $2,215 M.

On the company’s financial health, Boyd Gaming Corporation reported $0.16 EPS for the quarter, missing the analyst consensus estimate by $ -0.14 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.30. The company had revenue of $544.90 million for the quarter, compared to analysts expectations of $557.57 million. The company’s revenue was down -2.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.24 EPS.

Many Wall Street Analysts have commented on Boyd Gaming Corporation. Shares were Reiterated by Telsey Advisory Group on Aug 4, 2016 to “Outperform” and Lowered the Price Target to $ 23 from a previous price target of $24 .

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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