First Trust Advisors LP Boosts Stake in Boyd Gaming Corporation (BYD)

First Trust Advisors LP grew its position in shares of Boyd Gaming Corporation (NYSE:BYD) by 134.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 75,473 shares of the company’s stock after acquiring an additional 43,324 shares during the quarter. First Trust Advisors LP owned about 0.07% of Boyd Gaming Corporation worth $1,872,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its position in shares of Boyd Gaming Corporation by 0.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 33,700 shares of the company’s stock valued at $836,000 after acquiring an additional 100 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Boyd Gaming Corporation by 0.4% during the 1st quarter. Legal & General Group Plc now owns 148,018 shares of the company’s stock valued at $3,255,000 after acquiring an additional 517 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Boyd Gaming Corporation by 2.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 26,520 shares of the company’s stock valued at $658,000 after acquiring an additional 550 shares during the last quarter. Texas Permanent School Fund boosted its position in shares of Boyd Gaming Corporation by 1.0% during the 2nd quarter. Texas Permanent School Fund now owns 60,351 shares of the company’s stock valued at $1,497,000 after acquiring an additional 600 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Boyd Gaming Corporation by 1.9% during the 1st quarter. Arizona State Retirement System now owns 43,034 shares of the company’s stock valued at $947,000 after acquiring an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 74.66% of the company’s stock.

A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Boyd Gaming Corporation from a “sell” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Friday, July 14th. Instinet reiterated a “buy” rating and set a $30.00 target price (up from $27.00) on shares of Boyd Gaming Corporation in a research report on Monday, June 19th. Morgan Stanley downgraded Boyd Gaming Corporation from an “overweight” rating to an “equal weight” rating and set a $26.00 target price for the company. in a research report on Tuesday, June 20th. They noted that the move was a valuation call. Wells Fargo & Company reiterated a “market perform” rating and set a $25.00 target price (up from $22.00) on shares of Boyd Gaming Corporation in a research report on Monday, June 19th. Finally, Bank of America Corporation restated a “neutral” rating and issued a $27.00 price target (up from $25.00) on shares of Boyd Gaming Corporation in a research report on Monday, June 5th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $26.87.

Shares of Boyd Gaming Corporation (BYD) opened at 26.70 on Wednesday. The company has a market capitalization of $3.01 billion, a P/E ratio of 7.05 and a beta of 1.92. The stock’s 50 day moving average price is $26.14 and its 200 day moving average price is $24.03. Boyd Gaming Corporation has a 52-week low of $16.77 and a 52-week high of $27.00.

Boyd Gaming Corporation (NYSE:BYD) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.04). Boyd Gaming Corporation had a net margin of 19.15% and a return on equity of 13.31%. The business had revenue of $599.87 million during the quarter, compared to analyst estimates of $602.39 million. During the same period last year, the company earned $0.16 EPS. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities research analysts forecast that Boyd Gaming Corporation will post $1.12 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, September 18th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, September 15th. Boyd Gaming Corporation’s dividend payout ratio (DPR) is presently 5.25%.

ILLEGAL ACTIVITY WARNING: This story was originally reported by Stock Observer and is owned by of Stock Observer. If you are accessing this story on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark legislation. The original version of this story can be read at https://www.thestockobserver.com/2017/09/13/first-trust-advisors-lp-boosts-stake-in-boyd-gaming-corporation-byd.html.

In other news, insider William S. Boyd sold 76,531 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $25.18, for a total value of $1,927,050.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Robert Bailey purchased 10,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was acquired at an average cost of $25.33 per share, for a total transaction of $253,300.00. The disclosure for this purchase can be found here. Corporate insiders own 29.16% of the company’s stock.

Boyd Gaming Corporation Profile

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.

Want to see what other hedge funds are holding BYD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boyd Gaming Corporation (NYSE:BYD).

Institutional Ownership by Quarter for Boyd Gaming Corporation (NYSE:BYD)

Receive News & Ratings for Boyd Gaming Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boyd Gaming Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply