UBS Oconnor LLC purchased a new position in shares of Boyd Gaming Corporation (NYSE:BYD) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 184,033 shares of the company’s stock, valued at approximately $4,051,000. UBS Oconnor LLC owned approximately 0.16% of Boyd Gaming Corporation at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in BYD. Quantitative Investment Management LLC purchased a new position in Boyd Gaming Corporation during the first quarter valued at $2,986,000. Comerica Bank increased its position in shares of Boyd Gaming Corporation by 6.8% in the fourth quarter. Comerica Bank now owns 74,611 shares of the company’s stock valued at $1,463,000 after buying an additional 4,756 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Boyd Gaming Corporation by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 33,600 shares of the company’s stock valued at $740,000 after buying an additional 600 shares in the last quarter. Land & Buildings Investment Management LLC bought a new position in shares of Boyd Gaming Corporation during the first quarter valued at approximately $14,824,000. Finally, Federated Investors Inc. PA increased its position in shares of Boyd Gaming Corporation by 366.0% in the fourth quarter. Federated Investors Inc. PA now owns 25,278 shares of the company’s stock valued at $510,000 after buying an additional 19,854 shares in the last quarter. 70.91% of the stock is owned by hedge funds and other institutional investors.
Shares of Boyd Gaming Corporation (NYSE:BYD) opened at 25.27 on Tuesday. The stock has a market cap of $2.86 billion, a PE ratio of 6.94 and a beta of 1.92. Boyd Gaming Corporation has a 12 month low of $16.77 and a 12 month high of $26.20. The firm has a 50-day moving average price of $25.14 and a 200-day moving average price of $22.04.
Boyd Gaming Corporation (NYSE:BYD) last posted its quarterly earnings data on Tuesday, May 2nd. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. Boyd Gaming Corporation had a return on equity of 13.63% and a net margin of 18.79%. The business had revenue of $605.34 million for the quarter, compared to analyst estimates of $601.11 million. Equities analysts forecast that Boyd Gaming Corporation will post $1.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, July 15th. Stockholders of record on Thursday, June 15th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Tuesday, June 13th. Boyd Gaming Corporation’s dividend payout ratio is currently 5.48%.
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BYD has been the subject of a number of research analyst reports. Zacks Investment Research raised Boyd Gaming Corporation from a “hold” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, April 18th. Cann raised Boyd Gaming Corporation to a “buy” rating and boosted their target price for the company from $20.00 to $27.00 in a research note on Wednesday, May 3rd. They noted that the move was a valuation call. Imperial Capital boosted their target price on Boyd Gaming Corporation from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, May 4th. Wells Fargo & Company restated a “market perform” rating and set a $25.00 price target (up from $22.00) on shares of Boyd Gaming Corporation in a research report on Monday, June 19th. Finally, Telsey Advisory Group lifted their price target on Boyd Gaming Corporation from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, May 3rd. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $26.20.
In other news, VP Brian A. Larson sold 90,478 shares of the company’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $24.14, for a total transaction of $2,184,138.92. Following the sale, the vice president now owns 195,087 shares of the company’s stock, valued at $4,709,400.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Keith Smith sold 49,995 shares of the stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $25.56, for a total value of $1,277,872.20. Following the completion of the transaction, the chief executive officer now directly owns 1,019,259 shares in the company, valued at approximately $26,052,260.04. The disclosure for this sale can be found here. Insiders have sold 202,763 shares of company stock worth $5,032,829 in the last ninety days. Corporate insiders own 29.16% of the company’s stock.
About Boyd Gaming Corporation
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
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