Deutsche Bank AG acquired a new position in Boyd Gaming Corporation (NYSE:BYD - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 221,918 shares of the company's stock, valued at approximately $19,602,000. Deutsche Bank AG owned 0.31% of Boyd Gaming at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its position in shares of Boyd Gaming by 18.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,755,659 shares of the company's stock valued at $149,652,000 after purchasing an additional 277,529 shares in the last quarter. Invesco Ltd. raised its holdings in Boyd Gaming by 118.2% in the fourth quarter. Invesco Ltd. now owns 1,427,828 shares of the company's stock worth $121,708,000 after purchasing an additional 773,394 shares in the last quarter. Franklin Resources Inc. raised its holdings in Boyd Gaming by 11.1% in the fourth quarter. Franklin Resources Inc. now owns 1,357,412 shares of the company's stock worth $115,706,000 after purchasing an additional 136,129 shares in the last quarter. Geode Capital Management LLC lifted its position in Boyd Gaming by 26.7% during the fourth quarter. Geode Capital Management LLC now owns 1,355,209 shares of the company's stock valued at $115,537,000 after buying an additional 285,719 shares during the period. Finally, Nuveen LLC lifted its position in Boyd Gaming by 10.6% during the fourth quarter. Nuveen LLC now owns 1,080,331 shares of the company's stock valued at $92,087,000 after buying an additional 103,684 shares during the period. 76.81% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, CEO Keith Smith sold 100,000 shares of the business's 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 transaction, the chief executive officer directly owned 996,981 shares in the company, valued at $85,640,667.90. The trade was a 9.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Josh Hirsberg sold 12,777 shares of the company's stock in a transaction that occurred 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 directly owned 422,969 shares in the company, valued at $37,965,697.44. This trade represents a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 22.82% of the company's stock.
Boyd Gaming Price Performance
BYD opened at $80.85 on Friday. The stock has a 50-day moving average price of $86.17 and a 200-day moving average price of $84.61. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.77 and a quick ratio of 0.74. The firm has a market cap of $5.87 billion, a PE ratio of 3.56, a P/E/G ratio of 1.98 and a beta of 1.08. Boyd Gaming Corporation has a 1 year low of $76.33 and a 1 year high of $91.41.
Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.04. The company had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.04 billion. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.52%. Boyd Gaming's revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.87 EPS. Sell-side analysts predict that Boyd Gaming Corporation will post 7.29 earnings per share for the current fiscal year.
Boyd Gaming Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 15th. Boyd Gaming's dividend payout ratio is currently 3.52%.
Analyst Upgrades and Downgrades
BYD has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on shares of Boyd Gaming from $81.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 14th. Barclays lifted their price target on shares of Boyd Gaming from $86.00 to $87.00 and gave the company an "equal weight" rating in a research report on Friday, July 24th. Morgan Stanley dropped 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 note on Monday, July 27th. Susquehanna upped their price objective on shares of Boyd Gaming from $84.00 to $87.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of Boyd Gaming from $90.00 to $93.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, Boyd Gaming has a consensus rating of "Hold" and an average price target of $94.69.
Check Out Our Latest Analysis on BYD
Boyd Gaming Company Profile
(
Free Report)
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.
Further Reading
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).
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