EP Wealth Advisors LLC bought a new stake in Boyd Gaming Corporation (NYSE:BYD – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,284 shares of the company’s stock, valued at approximately $997,000.
A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Boyd Gaming during the 2nd quarter worth about $486,737,000. Arrowstreet Capital Limited Partnership lifted its position in Boyd Gaming by 18.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,755,659 shares of the company’s stock valued at $149,652,000 after buying an additional 277,529 shares during the last quarter. Invesco Ltd. lifted its position in Boyd Gaming by 118.2% in the fourth quarter. Invesco Ltd. now owns 1,427,828 shares of the company’s stock valued at $121,708,000 after buying an additional 773,394 shares during the last quarter. Franklin Resources Inc. boosted its stake in Boyd Gaming by 11.1% during the fourth quarter. Franklin Resources Inc. now owns 1,357,412 shares of the company’s stock worth $115,706,000 after buying an additional 136,129 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Boyd Gaming by 26.7% during the fourth quarter. Geode Capital Management LLC now owns 1,355,209 shares of the company’s stock worth $115,537,000 after buying an additional 285,719 shares during the period. 76.81% of the stock is currently owned by hedge funds and other institutional investors.
Boyd Gaming Trading Up 0.1%
Shares of BYD stock opened at $80.85 on Monday. The stock has a market capitalization of $5.87 billion, a P/E ratio of 3.56, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. Boyd Gaming Corporation has a fifty-two week low of $76.33 and a fifty-two week high of $91.41. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.74 and a current ratio of 0.77. The company has a 50 day moving average price of $86.17 and a 200 day moving average price of $84.61.
Boyd Gaming Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 15th. Boyd Gaming’s dividend payout ratio (DPR) is presently 3.52%.
Insiders Place Their Bets
In other Boyd Gaming news, CFO Josh Hirsberg sold 12,777 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total transaction of $1,146,863.52. Following the sale, the chief financial officer owned 422,969 shares in the company, valued at $37,965,697.44. This represents a 2.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Keith Smith sold 100,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $85.90, for a total value of $8,590,000.00. Following the completion of the sale, the chief executive officer directly owned 996,981 shares in the company, valued at $85,640,667.90. This represents a 9.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 22.82% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Boyd Gaming from $86.00 to $87.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. Morgan Stanley dropped their target price on shares of Boyd Gaming from $90.00 to $89.00 and set an “equal weight” rating for the company in a report on Monday, July 27th. Texas Capital raised Boyd Gaming to a “strong-buy” rating in a research report on Wednesday, June 3rd. Benchmark began coverage on Boyd Gaming in a research note on Monday, June 22nd. They set a “buy” rating and a $100.00 price target on the stock. Finally, Mizuho set a $104.00 price target on Boyd Gaming in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $94.69.
Get Our Latest Stock Report on BYD
About Boyd Gaming
Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.
Founded in 1975 by its namesake, William S.
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