80,958 Shares in Boyd Gaming Corporation (NYSE:BYD) Acquired by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management Co. LP acquired 80,958 shares of Boyd Gaming Corporation valued at approximately $5,329,000 during the first quarter, increasing its ownership to 0.10% of the company.
• Boyd Gaming Corporation reported a quarterly EPS of $1.87, surpassing the expected $1.67, and experienced a 6.9% year-over-year revenue growth with total revenue reaching $1.03 billion.
• The firm announced a quarterly dividend of $0.18 per share, translating to a 0.9% annual yield, with a payout ratio of 11.08%.

Westfield Capital Management Co. LP acquired a new position in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 80,958 shares of the company's stock, valued at approximately $5,329,000. Westfield Capital Management Co. LP owned approximately 0.10% of Boyd Gaming as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cohen & Steers Inc. lifted its stake in Boyd Gaming by 0.4% during the fourth quarter. Cohen & Steers Inc. now owns 5,265,454 shares of the company's stock valued at $381,929,000 after buying an additional 21,616 shares in the last quarter. Victory Capital Management Inc. grew its position in Boyd Gaming by 13.3% during the 1st quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company's stock worth $69,036,000 after purchasing an additional 122,822 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Boyd Gaming by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 692,496 shares of the company's stock valued at $45,587,000 after purchasing an additional 7,400 shares during the period. Northern Trust Corp grew its holdings in shares of Boyd Gaming by 14.9% during the fourth quarter. Northern Trust Corp now owns 597,431 shares of the company's stock valued at $43,338,000 after buying an additional 77,619 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Boyd Gaming in the 4th quarter worth about $43,273,000. 76.81% of the stock is owned by institutional investors and hedge funds.

Boyd Gaming Stock Down 1.5%

Shares of NYSE:BYD traded down $1.22 during mid-day trading on Thursday, reaching $82.08. 1,464,612 shares of the stock were exchanged, compared to its average volume of 1,567,617. The stock's 50 day simple moving average is $79.75 and its 200-day simple moving average is $74.28. Boyd Gaming Corporation has a one year low of $54.83 and a one year high of $87.76. The company has a market cap of $6.58 billion, a P/E ratio of 12.63, a P/E/G ratio of 2.82 and a beta of 1.24. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.53.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.67 by $0.20. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $976.81 million. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. The firm's revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $1.58 earnings per share. As a group, equities research analysts predict that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Insider Activity

In other news, insider Stephen S. Thompson sold 15,906 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $83.25, for a total transaction of $1,324,174.50. Following the sale, the insider owned 38,609 shares in the company, valued at $3,214,199.25. This represents a 29.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Ted Bogich sold 16,497 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $83.18, for a total transaction of $1,372,220.46. Following the transaction, the chief operating officer owned 45,116 shares in the company, valued at approximately $3,752,748.88. The trade was a 26.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 27.94% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BYD shares. Susquehanna downgraded Boyd Gaming from a "positive" rating to a "neutral" rating and upped their target price for the company from $76.00 to $86.00 in a report on Friday, July 11th. Macquarie lifted their target price on shares of Boyd Gaming from $74.00 to $88.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Stifel Nicolaus boosted their target price on shares of Boyd Gaming from $87.00 to $90.00 and gave the stock a "hold" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. assumed coverage on Boyd Gaming in a research note on Monday, June 23rd. They set a "neutral" rating and a $79.00 price target on the stock. Finally, Barclays raised their target price on Boyd Gaming from $73.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Boyd Gaming has a consensus rating of "Hold" and a consensus price target of $86.62.

Boyd Gaming Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.