Foster & Motley Inc. Invests $1.64 Million in Boyd Gaming Corporation (NYSE:BYD)

Key Points

• Foster & Motley Inc. has acquired a new stake in Boyd Gaming Corporation, purchasing 24,926 shares valued at approximately $1,641,000 in the first quarter.
• Boyd Gaming's recent earnings report showed an EPS of $1.87, which surpassed analyst expectations, along with a revenue increase of 6.9% year-over-year.
• Institutional investors now own 76.81% of Boyd Gaming's stock, with several research firms adjusting their price targets, raising between $76.00 and $89.00.

Foster & Motley Inc. purchased a new position in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 24,926 shares of the company's stock, valued at approximately $1,641,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Louisiana State Employees Retirement System grew its position in Boyd Gaming by 1.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the company's stock worth $1,224,000 after acquiring an additional 200 shares during the last quarter. State of Alaska Department of Revenue grew its position in Boyd Gaming by 0.4% during the 1st quarter. State of Alaska Department of Revenue now owns 47,753 shares of the company's stock worth $3,143,000 after acquiring an additional 205 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its position in Boyd Gaming by 7.1% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,000 shares of the company's stock worth $263,000 after acquiring an additional 265 shares during the last quarter. Choreo LLC grew its position in shares of Boyd Gaming by 0.9% in the 1st quarter. Choreo LLC now owns 30,164 shares of the company's stock worth $1,991,000 after buying an additional 271 shares during the last quarter. Finally, CoreCap Advisors LLC grew its position in shares of Boyd Gaming by 91.0% in 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 last quarter. 76.81% of the stock is currently owned by institutional investors.

Boyd Gaming Stock Performance

Boyd Gaming stock traded down $1.30 during mid-day trading on Friday, reaching $83.60. 1,372,073 shares of the stock traded hands, compared to its average volume of 1,525,495. The stock has a market capitalization of $6.81 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 2.88 and a beta of 1.24. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.86 and a quick ratio of 0.76. Boyd Gaming Corporation has a 12-month low of $52.76 and a 12-month high of $87.76. The business's 50-day moving average is $79.07 and its 200-day moving average is $74.04.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.67 by $0.20. The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $976.81 million. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%. The business's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.58 earnings per share. As a group, sell-side analysts predict that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th were given a $0.18 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. Boyd Gaming's dividend payout ratio is presently 11.08%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BYD. Susquehanna lowered Boyd Gaming from a "positive" rating to a "neutral" rating and lifted their price objective for the stock from $76.00 to $86.00 in a research report on Friday, July 11th. Morgan Stanley reiterated a "sell" rating on shares of Boyd Gaming in a research report on Friday, July 11th. Raymond James Financial lifted their price objective on Boyd Gaming from $81.00 to $85.00 and gave the stock an "outperform" rating in a research report on Monday, June 30th. Mizuho lifted their price objective on Boyd Gaming from $86.00 to $89.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, Barclays lifted their price objective on Boyd Gaming from $73.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Boyd Gaming has an average rating of "Hold" and a consensus price target of $86.62.

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.