The Manufacturers Life Insurance Company acquired a new position in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 39,811 shares of the company's stock, valued at approximately $3,517,000. The Manufacturers Life Insurance Company owned approximately 0.05% of Boyd Gaming at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Altshuler Shaham Ltd purchased a new position 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 during the fourth quarter worth approximately $25,000. Advisors Asset Management Inc. increased its position in shares of Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company's stock worth $36,000 after purchasing an additional 196 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Boyd Gaming by 62.8% during the first quarter. Bessemer Group Inc. now owns 526 shares of the company's stock worth $43,000 after purchasing an additional 203 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in Boyd Gaming by 139.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 619 shares of the company's stock valued at $48,000 after purchasing an additional 361 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.
Insider Activity
In related news, CFO Josh Hirsberg sold 12,777 shares of the firm's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $89.76, for a total transaction of $1,146,863.52. Following the completion of the sale, the chief financial officer directly owned 422,969 shares in the company, valued at approximately $37,965,697.44. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 22.82% of the company's stock.
Boyd Gaming Stock Performance
Shares of Boyd Gaming stock opened at $76.30 on Wednesday. Boyd Gaming Corporation has a one year low of $76.24 and a one year high of $91.41. The company has a market cap of $5.54 billion, a price-to-earnings ratio of 3.36, a PEG ratio of 1.38 and a beta of 1.06. 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 50 day moving average price is $85.28 and its 200 day moving average price is $84.40.
Boyd Gaming (NYSE:BYD - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.04. Boyd Gaming had a return on equity of 22.52% and a net margin of 44.34%.The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same period in the prior year, the business earned $1.87 EPS. The firm's quarterly revenue was up .0% on a year-over-year basis. On average, research analysts predict that Boyd Gaming Corporation will post 7.29 EPS for the current year.
Boyd Gaming Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be issued a $0.20 dividend. 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 is currently 3.52%.
Wall Street Analysts Forecast Growth
BYD has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Boyd Gaming from $90.00 to $93.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Benchmark started coverage on shares of Boyd Gaming in a research report on Monday, June 22nd. They issued a "buy" rating and a $100.00 target price for the company. Stifel Nicolaus increased their target price on shares of Boyd Gaming from $91.00 to $92.00 and gave the company a "hold" rating in a research report on Friday, July 24th. Wells Fargo & Company raised their price target on shares of Boyd Gaming from $81.00 to $88.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 14th. Finally, Mizuho set a $104.00 price target on shares of Boyd Gaming in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Boyd Gaming has a consensus rating of "Hold" and an average price target of $94.69.
Check Out Our Latest Stock Report on Boyd Gaming
About Boyd Gaming
(
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.
See Also
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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