Teza Capital Management LLC bought a new position in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 4,913 shares of the company's stock, valued at approximately $323,000.
Other hedge funds have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. acquired a new position in Boyd Gaming during the 1st quarter worth about $598,000. Redwood Investment Management LLC lifted its stake in Boyd Gaming by 7.0% during the 1st quarter. Redwood Investment Management LLC now owns 75,792 shares of the company's stock worth $4,989,000 after acquiring an additional 4,977 shares in the last quarter. Bank of New York Mellon Corp raised its position in Boyd Gaming by 1.1% in 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 in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Boyd Gaming in the 1st quarter valued at about $1,963,000. Finally, Jump Financial LLC acquired a new position in shares of Boyd Gaming during the first quarter worth about $764,000. Institutional investors and hedge funds own 76.81% of the company's stock.
Insider Activity at Boyd Gaming
In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 100,000 shares of Boyd Gaming stock in a transaction that occurred on 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 transaction, the chairman owned 1,504,379 shares of the company's stock, valued at $126,623,580.43. The trade was a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Ted Bogich sold 16,497 shares of Boyd Gaming stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $83.18, for a total value of $1,372,220.46. Following the transaction, the chief operating officer directly owned 45,116 shares in the company, valued at approximately $3,752,748.88. This trade represents a 26.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 385,438 shares of company stock valued at $32,638,085 over the last 90 days. 27.94% of the stock is owned by insiders.
Boyd Gaming Stock Down 1.4%
Shares of NYSE BYD traded down $1.23 during mid-day trading on Friday, reaching $84.76. The company had a trading volume of 540,478 shares, compared to its average volume of 1,035,609. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53. The firm has a 50 day simple moving average of $84.03 and a two-hundred day simple moving average of $75.60. The stock has a market cap of $6.80 billion, a P/E ratio of 13.04, a PEG ratio of 2.41 and a beta of 1.23. Boyd Gaming Corporation has a 52-week low of $58.94 and a 52-week high of $87.83.
Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $1.87 EPS 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 analyst estimates of $976.81 million. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%.The firm's revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 earnings per share. Sell-side analysts predict that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.
Boyd Gaming Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.72 annualized dividend and a yield of 0.8%. Boyd Gaming's payout ratio is 11.08%.
Wall Street Analyst Weigh In
BYD has been the subject of a number of analyst reports. Susquehanna downgraded Boyd Gaming from a "positive" rating to a "neutral" rating and boosted their price objective for the stock from $76.00 to $86.00 in a research report on Friday, July 11th. Macquarie boosted their price objective on Boyd Gaming from $74.00 to $88.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Raymond James Financial reissued an "outperform" rating on shares of Boyd Gaming in a research report on Monday. Morgan Stanley reissued a "sell" rating on shares of Boyd Gaming in a research report on Friday, July 11th. Finally, Stifel Nicolaus boosted their price objective on Boyd Gaming from $87.00 to $90.00 and gave the stock a "hold" rating in a research report on Friday, July 25th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $86.62.
Get Our Latest Stock Analysis on BYD
Boyd Gaming Profile
(
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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