15,700 Shares in Boyd Gaming Corporation $BYD Acquired by MUFG Securities EMEA plc

Key Points

• MUFG Securities EMEA plc opened a new position in Boyd Gaming, buying 15,700 shares in the fourth quarter worth about $1.34 million.
• Institutional ownership remains high, with several other funds also adding to or initiating stakes; overall, 76.81% of Boyd Gaming is owned by institutional investors.
• Boyd Gaming’s board authorized a $500 million share repurchase program, while the company also announced a quarterly dividend of $0.20 per share to be paid on July 15.

MUFG Securities EMEA plc purchased a new position in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 15,700 shares of the company's stock, valued at approximately $1,338,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. BNP Paribas Financial Markets lifted its stake in shares of Boyd Gaming by 367.9% during the 4th quarter. BNP Paribas Financial Markets now owns 135,930 shares of the company's stock worth $11,587,000 after acquiring an additional 106,878 shares during the last quarter. Norges Bank bought a new stake in shares of Boyd Gaming during the 4th quarter worth approximately $58,763,000. Intech Investment Management LLC bought a new stake in shares of Boyd Gaming during the 4th quarter worth approximately $3,607,000. Baker Avenue Asset Management LP lifted its stake in shares of Boyd Gaming by 11.8% during the 4th quarter. Baker Avenue Asset Management LP now owns 7,653 shares of the company's stock worth $652,000 after acquiring an additional 808 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Boyd Gaming by 26.7% during the 4th quarter. Geode Capital Management LLC now owns 1,355,209 shares of the company's stock worth $115,537,000 after acquiring an additional 285,719 shares during the last quarter. 76.81% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman Marianne Boyd Johnson sold 62,914 shares of Boyd Gaming 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 transaction, the chairman directly owned 1,609,808 shares in the company, valued at approximately $135,272,166.24. This trade represents a 3.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 22.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BYD. Weiss Ratings lowered Boyd Gaming from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 18th. Morgan Stanley reissued a "mixed" rating on shares of Boyd Gaming in a research note on Wednesday, April 8th. Susquehanna reduced their price objective on Boyd Gaming from $89.00 to $87.00 and set a "neutral" rating on the stock in a report on Tuesday, April 7th. Citigroup raised their price objective on Boyd Gaming from $86.00 to $90.00 and gave the stock a "neutral" rating in a report on Thursday, April 16th. Finally, Mizuho reduced their price objective on Boyd Gaming from $99.00 to $96.00 and set an "outperform" rating on the stock in a report on Friday, April 24th. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $92.08.

Boyd Gaming Trading Down 2.1%

BYD opened at $84.99 on Wednesday. The stock's fifty day moving average is $83.72 and its two-hundred day moving average is $83.73. The company has a market capitalization of $6.32 billion, a P/E ratio of 3.73, a PEG ratio of 2.03 and a beta of 1.08. Boyd Gaming Corporation has a 52 week low of $72.71 and a 52 week high of $89.96. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.90.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.76 by ($0.16). The firm had revenue of $997.36 million for the quarter, compared to analysts' expectations of $1.04 billion. Boyd Gaming had a return on equity of 25.63% and a net margin of 44.84%.The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.62 earnings per share. Analysts forecast that Boyd Gaming Corporation will post 7.32 earnings per share for the current year.

Boyd Gaming declared that its Board of Directors has initiated a share buyback plan on Thursday, April 23rd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Boyd Gaming Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. Boyd Gaming's dividend payout ratio (DPR) is currently 3.51%.

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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