Baker Avenue Asset Management LP Makes New $232,000 Investment in Boyd Gaming Corporation (NYSE:BYD)

Baker Avenue Asset Management LP purchased a new position in Boyd Gaming Corporation (NYSE:BYD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,521 shares of the company's stock, valued at approximately $232,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BYD. Oppenheimer & Co. Inc. bought a new stake in shares of Boyd Gaming in the 1st quarter valued at about $598,000. Raymond James Financial Inc. purchased a new position in Boyd Gaming during the 4th quarter valued at about $43,273,000. Bank of New York Mellon Corp increased its holdings 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. Assenagon Asset Management S.A. purchased a new position in Boyd Gaming during the 1st quarter valued at about $1,963,000. Finally, SG Americas Securities LLC purchased a new position in Boyd Gaming during the 1st quarter valued at about $805,000. Institutional investors own 76.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BYD. Mizuho boosted their price target on Boyd Gaming from $86.00 to $89.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Raymond James Financial upped their target price on Boyd Gaming from $81.00 to $85.00 and gave the stock an "outperform" rating in a report on Monday, June 30th. Barclays upped their target price on Boyd Gaming from $73.00 to $87.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. 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 report on Friday, July 11th. Finally, Morgan Stanley reiterated a "sell" rating on shares of Boyd Gaming in a report on Friday, July 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $86.62.

Boyd Gaming Stock Performance

Boyd Gaming stock opened at $83.60 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.53. The company has a market capitalization of $6.70 billion, a P/E ratio of 12.86, a PEG ratio of 2.83 and a beta of 1.24. The stock's 50 day moving average is $79.07 and its 200 day moving average is $74.05. Boyd Gaming Corporation has a twelve month low of $52.76 and a twelve month high of $87.76.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.87 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 40.65% and a net margin of 14.02%. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.58 EPS. On average, equities research analysts predict that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 16th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 16th. Boyd Gaming's dividend payout ratio (DPR) is currently 11.08%.

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.

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