Versor Investments LP Has $2.01 Million Holdings in Boyd Gaming Corporation $BYD

Key Points

• Versor Investments LP increased its Boyd Gaming stake by 180.4% in the fourth quarter, ending with 23,584 shares valued at about $2.01 million.
• Boyd Gaming recently reported quarterly earnings that missed expectations, with EPS of $1.60 versus $1.76 estimated and revenue of $997.36 million versus $1.04 billion expected.
• The company announced a quarterly dividend of $0.20 per share and a new $500 million share repurchase program, while analysts currently rate the stock a consensus Hold with an average price target of $92.08.

Versor Investments LP raised its holdings in Boyd Gaming Corporation (NYSE:BYD - Free Report) by 180.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,584 shares of the company's stock after acquiring an additional 15,173 shares during the period. Versor Investments LP's holdings in Boyd Gaming were worth $2,010,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of BYD. Citigroup Inc. boosted its position in Boyd Gaming by 94.8% during the third quarter. Citigroup Inc. now owns 229,823 shares of the company's stock valued at $19,868,000 after purchasing an additional 111,815 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Boyd Gaming by 78.3% in the third quarter. Envestnet Asset Management Inc. now owns 127,303 shares of the company's stock valued at $11,005,000 after buying an additional 55,923 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Boyd Gaming by 174.3% during the third quarter. Allianz Asset Management GmbH now owns 274,154 shares of the company's stock worth $23,701,000 after purchasing an additional 174,214 shares during the period. Caprock Group LLC bought a new position in shares of Boyd Gaming during the third quarter worth approximately $2,073,000. Finally, Capitolis Liquid Global Markets LLC bought a new position in shares of Boyd Gaming during the third quarter worth approximately $13,313,000. 76.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Barclays reduced their price target on Boyd Gaming from $87.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Friday, April 24th. Mizuho reduced their price target on Boyd Gaming from $99.00 to $96.00 and set an "outperform" rating on the stock in a research report on Friday, April 24th. Stifel Nicolaus reduced their price target on Boyd Gaming from $95.00 to $91.00 and set a "hold" rating on the stock in a research report on Friday, April 24th. Citigroup increased their price target on Boyd Gaming from $86.00 to $90.00 and gave the stock a "neutral" rating in a research report on Thursday, April 16th. Finally, Morgan Stanley reaffirmed a "mixed" rating on shares of Boyd Gaming in a report on Wednesday, April 8th. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $92.08.

Boyd Gaming Stock Down 3.6%

Shares of NYSE:BYD opened at $82.58 on Tuesday. The firm has a market cap of $6.14 billion, a P/E ratio of 3.62, a P/E/G ratio of 1.97 and a beta of 1.11. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.90. Boyd Gaming Corporation has a 12-month low of $72.01 and a 12-month high of $89.96. The business has a fifty day simple moving average of $83.97 and a 200 day simple moving average of $83.66.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.16). Boyd Gaming had a return on equity of 25.63% and a net margin of 44.84%.The business had revenue of $997.36 million during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the business posted $1.62 earnings per share. The business's revenue was up .6% on a year-over-year basis. Analysts predict that Boyd Gaming Corporation will post 7.33 earnings per share for the current year.

Boyd Gaming Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be paid a $0.20 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. Boyd Gaming's dividend payout ratio (DPR) is currently 3.51%.

Boyd Gaming announced that its Board of Directors has initiated a share repurchase plan on Thursday, April 23rd that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 7.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director William R. Boyd sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $84.84, for a total value of $2,545,200.00. Following the transaction, the director owned 1,930,447 shares in the company, valued at $163,779,123.48. The trade was a 1.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen S. Thompson sold 19,530 shares of the business's stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $83.59, for a total value of $1,632,512.70. Following the completion of the transaction, the insider owned 22,009 shares in the company, valued at $1,839,732.31. The trade was a 47.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 173,454 shares of company stock worth $14,680,814 over the last 90 days. Company insiders own 22.82% of the company's stock.

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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