Deutsche Bank AG increased its position in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) by 22.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 252,559 shares of the company's stock after buying an additional 46,791 shares during the period. Deutsche Bank AG owned about 0.31% of Boyd Gaming worth $16,626,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC increased its stake in Boyd Gaming by 91.0% during the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock worth $42,000 after buying an additional 273 shares during the period. GAMMA Investing LLC increased its position in shares of Boyd Gaming by 68.0% in the 1st quarter. GAMMA Investing LLC now owns 773 shares of the company's stock worth $51,000 after purchasing an additional 313 shares during the last quarter. UMB Bank n.a. increased its position in shares of Boyd Gaming by 156.0% in the 1st quarter. UMB Bank n.a. now owns 1,006 shares of the company's stock worth $66,000 after purchasing an additional 613 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of Boyd Gaming by 76.9% in the 1st quarter. Golden State Wealth Management LLC now owns 1,636 shares of the company's stock worth $108,000 after purchasing an additional 711 shares during the last quarter. Finally, Quarry LP increased its position in shares of Boyd Gaming by 94.5% in the 4th quarter. Quarry LP now owns 1,698 shares of the company's stock worth $123,000 after purchasing an additional 825 shares during the last quarter. Hedge funds and other institutional investors own 76.81% of the company's stock.
Insider Activity at Boyd Gaming
In related news, insider Stephen S. Thompson sold 15,906 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $83.25, for a total transaction of $1,324,174.50. Following the completion of the sale, the insider directly owned 38,609 shares of the company's stock, valued at $3,214,199.25. This represents a 29.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Ted Bogich sold 16,497 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $83.18, for a total transaction of $1,372,220.46. Following the sale, the chief operating officer directly owned 45,116 shares of the company's stock, valued at approximately $3,752,748.88. This represents a 26.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 145,403 shares of company stock valued at $12,174,196. 27.94% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the stock. Susquehanna downgraded shares of Boyd Gaming from a "positive" rating to a "neutral" rating and boosted their target price for the stock from $76.00 to $86.00 in a research report on Friday, July 11th. Raymond James Financial boosted their target price on shares of Boyd Gaming from $81.00 to $85.00 and gave the stock an "outperform" rating in a research report on Monday, June 30th. Morgan Stanley reissued a "sell" rating on shares of Boyd Gaming in a research report on Friday, July 11th. 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. Finally, Macquarie boosted their target price on shares of Boyd Gaming from $74.00 to $88.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $86.62.
View Our Latest Analysis on BYD
Boyd Gaming Stock Performance
Shares of NYSE:BYD traded down $1.28 during trading hours on Friday, hitting $82.67. The stock had a trading volume of 979,242 shares, compared to its average volume of 1,315,790. The stock's fifty day simple moving average is $80.80 and its 200 day simple moving average is $74.56. Boyd Gaming Corporation has a 1-year low of $57.19 and a 1-year high of $87.76. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 2.34 and a beta of 1.24. 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 announced its quarterly earnings results on Thursday, July 24th. The company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.67 by $0.20. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $976.81 million. During the same quarter last year, the business earned $1.58 earnings per share. Boyd Gaming's revenue was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.
Boyd Gaming Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, September 15th. Boyd Gaming's dividend payout ratio is currently 11.08%.
About Boyd Gaming
(
Free Report)
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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