III Capital Management acquired a new stake in Boyd Gaming Corporation (NYSE:BYD – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 49,000 shares of the company’s stock, valued at approximately $4,177,000. Boyd Gaming makes up 0.6% of III Capital Management’s holdings, making the stock its 16th biggest holding. III Capital Management owned 0.06% of Boyd Gaming as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Altshuler Shaham Ltd purchased a new stake in shares of Boyd Gaming in the fourth quarter valued at approximately $25,000. Los Angeles Capital Management LLC purchased a new stake in shares of Boyd Gaming in the fourth quarter valued at approximately $25,000. First Horizon Corp purchased a new stake in shares of Boyd Gaming in the fourth quarter valued at approximately $41,000. Advisors Asset Management Inc. increased its position in shares of Boyd Gaming by 56.8% in the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after buying an additional 196 shares in the last quarter. Finally, Employees Retirement System of Texas purchased a new stake in shares of Boyd Gaming in the third quarter valued at approximately $53,000. 76.81% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Boyd Gaming
In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 62,914 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $84.03, for a total value of $5,286,663.42. Following the completion of the sale, the chairman directly owned 1,609,808 shares in the company, valued at $135,272,166.24. This represents a 3.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Keith Smith sold 100,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer directly owned 996,981 shares in the company, valued at approximately $85,640,667.90. This trade represents a 9.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 200,000 shares of company stock valued at $17,038,987. 22.82% of the stock is owned by company insiders.
Analyst Ratings Changes
Read Our Latest Analysis on Boyd Gaming
Boyd Gaming Stock Down 3.0%
Shares of NYSE:BYD opened at $83.86 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.90. The business has a fifty day moving average of $84.67 and a two-hundred day moving average of $84.26. The stock has a market cap of $6.23 billion, a P/E ratio of 3.68, a PEG ratio of 2.02 and a beta of 1.08. Boyd Gaming Corporation has a 52-week low of $75.13 and a 52-week high of $89.96.
Boyd Gaming (NYSE:BYD – Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($0.16). The company had revenue of $997.36 million during the quarter, compared to analysts’ expectations of $1.04 billion. Boyd Gaming had a net margin of 44.84% and a return on equity of 25.63%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.62 earnings per share. On average, research analysts expect that Boyd Gaming Corporation will post 7.32 earnings per share for the current year.
Boyd Gaming declared that its Board of Directors has approved a stock buyback plan on Thursday, April 23rd that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 7.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.
Boyd Gaming Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, June 15th. Boyd Gaming’s dividend payout ratio is presently 3.51%.
Boyd Gaming Company Profile
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.
Read More
- Five stocks we like better than Boyd Gaming
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
- Critical Metals: Sizing Up This Tiny Rare-Earth Stock Making Big Moves
- Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
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 – Free Report).
Receive News & Ratings for Boyd Gaming Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boyd Gaming and related companies with MarketBeat.com's FREE daily email newsletter.
