Boyd Gaming Corporation $BYD Holdings Raised by Foster & Motley Inc.

Key Points

• Foster & Motley Inc. increased its stake in Boyd Gaming Corporation by 132.4% in Q2, now holding approximately 0.07% of the company worth about $4.53 million.
• Several institutional investors, including Victory Capital Management Inc. and Charles Schwab Investment Management Inc., also increased their stakes during Q1, contributing to a total institutional ownership of 76.81%.
• Boyd Gaming recently declared a quarterly dividend of $0.18 per share, representing an annualized dividend of $0.72 and a yield of 0.9%.

Foster & Motley Inc. boosted its stake in Boyd Gaming Corporation (NYSE:BYD - Free Report) by 132.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,919 shares of the company's stock after buying an additional 32,993 shares during the quarter. Foster & Motley Inc. owned approximately 0.07% of Boyd Gaming worth $4,531,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its position in Boyd Gaming by 13.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company's stock worth $69,036,000 after buying an additional 122,822 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Boyd Gaming by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 983,823 shares of the company's stock worth $64,765,000 after purchasing an additional 8,850 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of 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 worth $45,587,000 after purchasing an additional 7,400 shares during the last quarter. Northern Trust Corp increased its stake in shares of Boyd Gaming by 14.2% during the 1st quarter. Northern Trust Corp now owns 682,518 shares of the company's stock worth $44,930,000 after purchasing an additional 85,087 shares during the last quarter. Finally, Raymond James Financial Inc. increased its stake in shares of Boyd Gaming by 7.5% during the 1st quarter. Raymond James Financial Inc. now owns 641,104 shares of the company's stock worth $42,204,000 after purchasing an additional 44,558 shares during the last quarter. Hedge funds and other institutional investors own 76.81% of the company's stock.

Insider Activity

In related news, CFO Josh Hirsberg sold 40,035 shares of Boyd Gaming stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $85.41, for a total transaction of $3,419,389.35. Following the completion of the transaction, the chief financial officer directly owned 420,185 shares of the company's stock, valued at $35,888,000.85. This trade represents a 8.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Marianne Boyd Johnson sold 100,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $84.17, for a total transaction of $8,417,000.00. Following the completion of the transaction, the chairman directly owned 1,504,379 shares of the company's stock, valued at approximately $126,623,580.43. This represents a 6.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 385,438 shares of company stock worth $32,638,085 over the last ninety days. Corporate insiders own 27.94% of the company's stock.

Boyd Gaming Stock Performance

NYSE:BYD opened at $82.26 on Friday. The firm's 50-day moving average is $84.57 and its 200-day moving average is $78.20. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 2.30 and a beta of 1.30. Boyd Gaming Corporation has a 52-week low of $58.94 and a 52-week high of $88.49. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings data on Tuesday, April 11th. The company reported $1.35 EPS for the quarter. The company had revenue of $707.32 million during the quarter. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. Equities research analysts anticipate that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 15th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, September 15th. Boyd Gaming's dividend payout ratio (DPR) is currently 11.08%.

Wall Street Analysts Forecast Growth

BYD has been the topic of several analyst reports. Barclays increased their price target on shares of Boyd Gaming from $73.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Morgan Stanley restated a "sell" rating on shares of Boyd Gaming in a research note on Friday, July 11th. Zacks Research lowered shares of Boyd Gaming from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 25th. Macquarie raised their target price on shares of Boyd Gaming from $74.00 to $88.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Finally, Susquehanna lowered shares of Boyd Gaming from a "positive" rating to a "neutral" rating and raised their target price for the company from $76.00 to $86.00 in a research note on Friday, July 11th. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $88.67.

About Boyd Gaming

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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