UBS Group AG Has $52.10 Million Holdings in Boyd Gaming Corporation $BYD

Key Points

• UBS Group AG boosted its stake in Boyd Gaming by 196.9% in Q4 to 611,207 shares, valued at about $52.10 million and representing 0.78% of the company.
• Boyd Gaming missed quarterly estimates (EPS $1.60 vs. $1.76; revenue $997.4M vs. $1.04B) but the board approved a $500 million share buyback and raised the quarterly dividend to $0.20 (1.0% yield).
• Insiders sold 173,454 shares last quarter (including the CFO’s 23,924 and a director’s 30,000), while institutional investors own roughly 76.81% and insiders about 22.82% of the stock.

UBS Group AG grew its holdings in Boyd Gaming Corporation (NYSE:BYD - Free Report) by 196.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 611,207 shares of the company's stock after buying an additional 405,340 shares during the period. UBS Group AG owned 0.78% of Boyd Gaming worth $52,099,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Sanctuary Advisors LLC lifted its position in shares of Boyd Gaming by 420.0% in the fourth quarter. Sanctuary Advisors LLC now owns 19,745 shares of the company's stock valued at $1,683,000 after buying an additional 15,948 shares during the last quarter. Caprock Group LLC lifted its position in Boyd Gaming by 20.2% during the fourth quarter. Caprock Group LLC now owns 29,020 shares of the company's stock worth $2,479,000 after acquiring an additional 4,874 shares during the last quarter. M&T Bank Corp acquired a new stake in Boyd Gaming during the fourth quarter worth approximately $1,179,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Boyd Gaming by 6.0% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 34,062 shares of the company's stock worth $2,905,000 after acquiring an additional 1,920 shares during the last quarter. Finally, Optas LLC lifted its position in Boyd Gaming by 37.0% during the fourth quarter. Optas LLC now owns 3,348 shares of the company's stock worth $285,000 after acquiring an additional 904 shares during the last quarter. 76.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Boyd Gaming news, CFO Josh Hirsberg sold 23,924 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $85.86, for a total transaction of $2,054,114.64. Following the completion of the sale, the chief financial officer owned 435,746 shares of the company's stock, valued at approximately $37,413,151.56. This represents a 5.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William R. Boyd sold 30,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $84.84, for a total transaction of $2,545,200.00. Following the sale, the director directly owned 1,930,447 shares of the company's stock, valued at $163,779,123.48. This represents a 1.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 173,454 shares of company stock worth $14,680,814. 22.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BYD. Wells Fargo & Company cut their price objective on shares of Boyd Gaming from $84.00 to $83.00 and set an "equal weight" rating for the company in a research report on Thursday, April 16th. Susquehanna cut their price objective on shares of Boyd Gaming from $89.00 to $87.00 and set a "neutral" rating for the company in a research report on Tuesday, April 7th. Stifel Nicolaus dropped their price target on Boyd Gaming from $95.00 to $91.00 and set a "hold" rating for the company in a research note on Friday, April 24th. JPMorgan Chase & Co. boosted their price target on Boyd Gaming from $89.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Finally, Citigroup boosted their price target on Boyd Gaming from $86.00 to $90.00 and gave the company a "neutral" rating in a research note on Thursday, April 16th. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $92.08.

Boyd Gaming Stock Up 1.4%

Shares of NYSE:BYD opened at $84.06 on Wednesday. The company has a fifty day moving average of $84.03 and a 200-day moving average of $83.60. The company has a market capitalization of $6.25 billion, a PE ratio of 3.69, a price-to-earnings-growth ratio of 1.89 and a beta of 1.11. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.60. Boyd Gaming Corporation has a 52-week low of $68.98 and a 52-week high of $89.96.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($0.16). The company had revenue of $997.36 million for the quarter, compared to analyst estimates of $1.04 billion. Boyd Gaming had a return on equity of 25.63% and a net margin of 44.84%.The firm's quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company posted $1.62 earnings per share. On average, equities analysts predict that Boyd Gaming Corporation will post 7.41 EPS for the current fiscal year.

Boyd Gaming announced that its board has approved a stock repurchase program on Thursday, April 23rd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 7.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Boyd Gaming Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. This is a boost from Boyd Gaming's previous quarterly dividend of $0.18. Boyd Gaming's payout ratio is currently 3.51%.

Boyd Gaming Profile

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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