Empowered Funds LLC bought a new position in Boyd Gaming Corporation (NYSE:BYD – Free Report) during the 2nd quarter, HoldingsChannel reports. The firm bought 28,946 shares of the company’s stock, valued at approximately $2,557,000.
Several other institutional investors and hedge funds also recently made changes to their positions in BYD. Altshuler Shaham Ltd bought a new position in Boyd Gaming during the fourth quarter worth about $25,000. Los Angeles Capital Management LLC bought a new stake in shares of Boyd Gaming in the fourth quarter worth about $25,000. Advisors Asset Management Inc. raised its position in shares of Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after purchasing an additional 196 shares during the period. Bessemer Group Inc. raised its position in shares of Boyd Gaming by 62.8% during the first quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock worth $43,000 after purchasing an additional 203 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Boyd Gaming by 139.9% during the 2nd quarter. Geneos Wealth Management Inc. now owns 619 shares of the company’s stock valued at $48,000 after purchasing an additional 361 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.
Boyd Gaming Stock Up 0.4%
Shares of Boyd Gaming stock opened at $76.67 on Thursday. The firm has a market cap of $5.57 billion, a PE ratio of 3.37, a P/E/G ratio of 1.36 and a beta of 1.06. The business’s 50 day simple moving average is $85.07 and its 200 day simple moving average is $84.36. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.74 and a current ratio of 0.77. Boyd Gaming Corporation has a 52-week low of $76.24 and a 52-week high of $91.41.
Boyd Gaming Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Boyd Gaming’s payout ratio is currently 3.52%.
Insider Buying and Selling
In related news, CFO Josh Hirsberg sold 12,777 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $89.76, for a total transaction of $1,146,863.52. Following the completion of the transaction, the chief financial officer owned 422,969 shares in the company, valued at approximately $37,965,697.44. This represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 22.82% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on BYD shares. Morgan Stanley decreased their price objective on Boyd Gaming from $90.00 to $89.00 and set an “equal weight” rating for the company in a research report on Monday, July 27th. Mizuho set a $104.00 price objective on shares of Boyd Gaming in a research report on Friday, July 24th. Weiss Ratings cut shares of Boyd Gaming from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Texas Capital raised shares of Boyd Gaming to a “strong-buy” rating in a research report on Wednesday, June 3rd. Finally, Barclays upped their target price on shares of Boyd Gaming from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Boyd Gaming presently has an average rating of “Hold” and an average price target of $94.69.
View Our Latest Research Report on Boyd Gaming
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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