Bamco Inc. NY purchased a new stake in Boyd Gaming Corporation (NYSE:BYD - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 466,256 shares of the company's stock, valued at approximately $41,184,000. Bamco Inc. NY owned about 0.64% of Boyd Gaming at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Advisors Asset Management Inc. boosted its holdings 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 acquiring an additional 196 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Boyd Gaming by 13.9% in the 1st quarter. AQR Capital Management LLC now owns 9,623 shares of the company's stock valued at $628,000 after purchasing an additional 1,172 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of Boyd Gaming during the 1st quarter worth $207,000. M&T Bank Corp bought a new stake in shares of Boyd Gaming during the 2nd quarter worth $229,000. Finally, Amundi boosted its stake in Boyd Gaming by 14,719.0% in the second quarter. Amundi now owns 3,112 shares of the company's stock valued at $253,000 after buying an additional 3,091 shares in the last quarter. 76.81% of the stock is owned by institutional investors and hedge funds.
Boyd Gaming Stock Down 0.6%
Boyd Gaming stock opened at $80.66 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 1.05. The firm has a 50 day moving average price of $85.86 and a 200-day moving average price of $84.55. Boyd Gaming Corporation has a twelve month low of $76.33 and a twelve month high of $91.41. The company has a market capitalization of $5.86 billion, a P/E ratio of 3.55, a P/E/G ratio of 2.00 and a beta of 1.08.
Boyd Gaming (NYSE:BYD - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $1.93 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the business posted $1.87 earnings per share. The business's quarterly revenue was up .0% on a year-over-year basis. As a group, equities analysts predict that Boyd Gaming Corporation will post 7.29 EPS for the current year.
Boyd Gaming Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Boyd Gaming's dividend payout ratio is currently 3.52%.
Insider Transactions at Boyd Gaming
In other Boyd Gaming news, CFO Josh Hirsberg sold 12,777 shares of the firm's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total transaction of $1,146,863.52. Following the sale, the chief financial officer 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Keith Smith sold 100,000 shares of Boyd Gaming stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $85.90, for a total value of $8,590,000.00. Following the sale, the chief executive officer directly owned 996,981 shares of the company's stock, valued at approximately $85,640,667.90. This trade represents a 9.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 112,789 shares of company stock worth $9,737,848 in the last 90 days. Company insiders own 22.82% of the company's stock.
Analysts Set New Price Targets
Several research analysts have recently issued reports on BYD shares. Wells Fargo & Company upped their price target on shares of Boyd Gaming from $81.00 to $88.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 14th. Benchmark started coverage on shares of Boyd Gaming in a research report on Monday, June 22nd. They set a "buy" rating and a $100.00 price objective for the company. Texas Capital raised Boyd Gaming to a "strong-buy" rating in a research note on Wednesday, June 3rd. Stifel Nicolaus increased their price objective on shares of Boyd Gaming from $91.00 to $92.00 and gave the stock a "hold" rating in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Boyd Gaming from $90.00 to $93.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. One equities research 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $94.69.
Get Our Latest Report on BYD
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.
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