Redwood Investment Management LLC bought a new stake in shares of Boyd Gaming Corporation (NYSE:BYD – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 25,543 shares of the company’s stock, valued at approximately $2,256,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its position in Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after acquiring an additional 196 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Boyd Gaming by 13.9% in the 1st quarter. AQR Capital Management LLC now owns 9,623 shares of the company’s stock worth $628,000 after acquiring an additional 1,172 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Boyd Gaming in the 1st quarter worth about $207,000. M&T Bank Corp purchased a new position in shares of Boyd Gaming during the 2nd quarter worth about $229,000. Finally, Amundi boosted its stake in shares of Boyd Gaming by 14,719.0% during the 2nd quarter. Amundi now owns 3,112 shares of the company’s stock worth $253,000 after purchasing an additional 3,091 shares during the period. Hedge funds and other institutional investors own 76.81% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on BYD. Morgan Stanley reduced their price objective on shares of Boyd Gaming from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Monday, July 27th. Texas Capital upgraded Boyd Gaming to a “strong-buy” rating in a research report on Wednesday, June 3rd. Wells Fargo & Company upped their target price on Boyd Gaming from $81.00 to $88.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 14th. Benchmark started coverage on Boyd Gaming in a report on Monday, June 22nd. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Weiss Ratings lowered Boyd Gaming from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Boyd Gaming presently has an average rating of “Hold” and a consensus target price of $94.69.
Boyd Gaming Trading Down 0.6%
NYSE BYD opened at $80.66 on Thursday. The stock has a market cap of $5.86 billion, a PE ratio of 3.55, a PEG ratio of 2.00 and a beta of 1.08. Boyd Gaming Corporation has a 12 month low of $76.33 and a 12 month high of $91.41. The company’s 50-day moving average price is $85.86 and its 200-day moving average price is $84.55. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 1.05.
Boyd Gaming (NYSE:BYD – Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.04. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.52%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the business posted $1.87 EPS. Equities research analysts forecast that Boyd Gaming Corporation will post 7.29 earnings per share for the current year.
Boyd Gaming Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. Boyd Gaming’s dividend payout ratio (DPR) is 3.52%.
Insider Activity at Boyd Gaming
In related news, CFO Josh Hirsberg sold 12,777 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total value of $1,146,863.52. Following the transaction, the chief financial officer owned 422,969 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO Keith Smith sold 100,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $85.90, for a total value of $8,590,000.00. Following the transaction, the chief executive officer owned 996,981 shares in the company, valued at $85,640,667.90. The trade was a 9.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 112,789 shares of company stock valued at $9,737,848 in the last ninety days. Insiders own 22.82% of the company’s stock.
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.
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