Universal Beteiligungs und Servicegesellschaft mbH Invests $907,000 in Boyd Gaming Corporation (NYSE:BYD)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake in Boyd Gaming Corporation, purchasing 13,776 shares valued at approximately $907,000 during the first quarter.
• Boyd Gaming reported $1.87 earnings per share (EPS) for the most recent quarter, exceeding analysts' expectations, and showed a revenue increase of 6.9% compared to the previous year.
• The company also announced a quarterly dividend of $0.18 per share, which reflects a 0.9% dividend yield and a payout ratio of 11.08%.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Boyd Gaming Corporation (NYSE:BYD - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,776 shares of the company's stock, valued at approximately $907,000.

Several other institutional investors have also modified their holdings of BYD. LPL Financial LLC grew its stake in shares of Boyd Gaming by 274.2% in the fourth quarter. LPL Financial LLC now owns 112,256 shares of the company's stock worth $8,143,000 after acquiring an additional 82,258 shares in the last quarter. Norges Bank acquired a new position in shares of Boyd Gaming in the fourth quarter worth $55,553,000. Pictet Asset Management Holding SA grew its stake in shares of Boyd Gaming by 9.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 12,811 shares of the company's stock worth $929,000 after acquiring an additional 1,120 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Boyd Gaming by 37.2% in the fourth quarter. Franklin Resources Inc. now owns 964,051 shares of the company's stock worth $69,932,000 after acquiring an additional 261,443 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of Boyd Gaming in the fourth quarter worth $6,194,000. Institutional investors and hedge funds own 76.81% of the company's stock.

Boyd Gaming Stock Performance

BYD traded down $1.30 on Friday, reaching $83.60. The company had a trading volume of 1,372,073 shares, compared to its average volume of 1,594,107. The stock has a 50-day moving average price of $79.07 and a 200-day moving average price of $74.05. Boyd Gaming Corporation has a 1 year low of $52.76 and a 1 year high of $87.76. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.53. The stock has a market capitalization of $6.70 billion, a PE ratio of 12.86, a P/E/G ratio of 2.83 and a beta of 1.24.

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

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th were issued 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 was Monday, June 16th. Boyd Gaming's dividend payout ratio is presently 11.08%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BYD shares. Mizuho lifted their price objective on shares of Boyd Gaming from $86.00 to $89.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Susquehanna cut shares of 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. Macquarie lifted their price objective 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. Raymond James Financial lifted their price objective 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. Finally, Stifel Nicolaus lifted their price objective 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Boyd Gaming currently has a consensus 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.