Alps Advisors Inc. Buys New Shares in Boyd Gaming Corporation (NYSE:BYD)

Alps Advisors Inc. acquired a new stake in Boyd Gaming Corporation (NYSE:BYD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,180 shares of the company's stock, valued at approximately $341,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BYD. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Boyd Gaming by 6.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,986 shares of the company's stock valued at $1,232,000 after buying an additional 1,075 shares during the last quarter. Avantax Advisory Services Inc. bought a new position in shares of Boyd Gaming during the fourth quarter valued at approximately $205,000. Quantbot Technologies LP bought a new position in shares of Boyd Gaming during the fourth quarter valued at approximately $1,968,000. Sei Investments Co. grew its holdings in shares of Boyd Gaming by 6.8% during the fourth quarter. Sei Investments Co. now owns 439,050 shares of the company's stock valued at $31,849,000 after purchasing an additional 28,038 shares during the last quarter. Finally, AXQ Capital LP bought a new position in shares of Boyd Gaming during the fourth quarter valued at approximately $674,000. 76.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BYD has been the subject of a number of recent analyst reports. Macquarie reissued a "neutral" rating and issued a $74.00 price objective on shares of Boyd Gaming in a report on Friday, April 25th. Susquehanna downgraded Boyd Gaming from a "positive" rating to a "neutral" rating and upped their target price for the stock from $76.00 to $86.00 in a research report on Friday, July 11th. Morgan Stanley restated a "sell" rating on shares of Boyd Gaming in a research report on Friday, July 11th. Stifel Nicolaus upped their target price on Boyd Gaming from $76.00 to $87.00 and gave the stock a "hold" rating in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. initiated coverage on Boyd Gaming in a research report on Monday, June 23rd. They issued a "neutral" rating and a $79.00 target price for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $84.85.

Boyd Gaming Stock Down 0.3%

Shares of NYSE BYD traded down $0.28 during mid-day trading on Friday, reaching $82.16. The company had a trading volume of 924,267 shares, compared to its average volume of 947,712. Boyd Gaming Corporation has a twelve month low of $52.76 and a twelve month high of $87.76. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.76 and a current ratio of 0.80. The stock has a market capitalization of $6.69 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 2.96 and a beta of 1.26. The stock's 50 day moving average is $77.11 and its 200-day moving average is $73.21.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.52 by $0.10. The firm had revenue of $991.57 million for the quarter, compared to the consensus estimate of $976.38 million. Boyd Gaming had a net margin of 13.96% and a return on equity of 38.34%. The business's quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.51 earnings per share. As a group, equities analysts anticipate that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Monday, June 16th. Boyd Gaming's dividend payout ratio is currently 11.75%.

Boyd Gaming Company 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.