III Capital Management purchased a new stake in Boyd Gaming Corporation (NYSE:BYD – Free Report) in the 2nd quarter, Holdings Channel reports. The fund purchased 25,000 shares of the company’s stock, valued at approximately $2,208,000. Boyd Gaming makes up 0.6% of III Capital Management’s holdings, making the stock its 26th biggest position.
Other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in Boyd Gaming by 1,466.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 32,965 shares of the company’s stock worth $2,810,000 after buying an additional 30,860 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Boyd Gaming during the 4th quarter valued at approximately $15,551,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Boyd Gaming during the 4th quarter valued at approximately $1,922,000. Convergence Investment Partners LLC purchased a new stake in shares of Boyd Gaming during the 4th quarter worth approximately $1,256,000. Finally, Franklin Resources Inc. boosted its stake in shares of Boyd Gaming by 11.1% during the 4th quarter. Franklin Resources Inc. now owns 1,357,412 shares of the company’s stock worth $115,706,000 after acquiring an additional 136,129 shares in the last quarter. 76.81% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on BYD. Mizuho set a $104.00 price objective on Boyd Gaming in a research note on Friday, July 24th. Stifel Nicolaus boosted their target price on Boyd Gaming from $91.00 to $92.00 and gave the stock a “hold” rating in a research report on Friday, July 24th. Morgan Stanley lowered their target price on Boyd Gaming from $90.00 to $89.00 and set an “equal weight” rating on the stock in a report on Monday, July 27th. JPMorgan Chase & Co. raised their price target on Boyd Gaming from $90.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, Barclays lifted their price target on 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 research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $94.69.
Insider Transactions at Boyd Gaming
In other Boyd Gaming news, CEO Keith Smith sold 100,000 shares of Boyd Gaming stock in a transaction that occurred 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 sale, the chief executive officer directly owned 996,981 shares of the company’s stock, valued at approximately $85,640,667.90. The trade was a 9.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Josh Hirsberg sold 12,777 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $89.76, for a total value of $1,146,863.52. Following the completion of the transaction, the chief financial officer owned 422,969 shares of the company’s stock, valued at $37,965,697.44. This trade represents a 2.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 22.82% of the company’s stock.
Boyd Gaming Price Performance
Shares of NYSE:BYD opened at $81.13 on Wednesday. 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 business’s fifty day moving average price is $85.92 and its two-hundred day moving average price is $84.57. The stock has a market cap of $5.89 billion, a PE ratio of 3.57, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. Boyd Gaming Corporation has a one year low of $76.33 and a one year high of $91.41.
Boyd Gaming (NYSE:BYD – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Boyd Gaming had a return on equity of 22.52% and a net margin of 44.34%.The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.87 earnings per share. On average, analysts forecast that Boyd Gaming Corporation will post 7.29 EPS for the current fiscal year.
Boyd Gaming Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, September 15th. Boyd Gaming’s dividend payout ratio is 3.52%.
Boyd Gaming 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.
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