Quantitative Investment Management LLC Lowers Position in Boyd Gaming Co. (BYD)

Quantitative Investment Management LLC decreased its stake in shares of Boyd Gaming Co. (NYSE:BYD) by 25.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 134,000 shares of the company’s stock after selling 46,400 shares during the period. Quantitative Investment Management LLC owned approximately 0.12% of Boyd Gaming worth $4,696,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Point72 Asset Management L.P. increased its position in shares of Boyd Gaming by 34.9% in the third quarter. Point72 Asset Management L.P. now owns 4,566,570 shares of the company’s stock worth $118,959,000 after acquiring an additional 1,181,986 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Boyd Gaming in the third quarter worth approximately $11,723,000. OppenheimerFunds Inc. boosted its holdings in shares of Boyd Gaming by 38.3% during the fourth quarter. OppenheimerFunds Inc. now owns 934,798 shares of the company’s stock worth $32,765,000 after purchasing an additional 258,775 shares during the period. Chartwell Investment Partners LLC acquired a new stake in shares of Boyd Gaming during the fourth quarter worth approximately $5,346,000. Finally, Bamco Inc. NY boosted its holdings in shares of Boyd Gaming by 10.4% during the third quarter. Bamco Inc. NY now owns 1,528,617 shares of the company’s stock worth $39,820,000 after purchasing an additional 143,680 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Boyd Gaming stock opened at $32.00 on Friday. Boyd Gaming Co. has a 52-week low of $21.36 and a 52-week high of $40.44. The company has a debt-to-equity ratio of 2.77, a quick ratio of 0.82 and a current ratio of 0.87. The firm has a market capitalization of $3,603.63, a price-to-earnings ratio of 31.07 and a beta of 1.87.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Tuesday, February 20th. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.04). Boyd Gaming had a net margin of 7.94% and a return on equity of 11.47%. The firm had revenue of $590.83 million during the quarter, compared to analyst estimates of $595.28 million. During the same quarter in the prior year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. analysts expect that Boyd Gaming Co. will post 1.23 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Friday, March 16th will be given a dividend of $0.45 per share. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $1.80 annualized dividend and a yield of 5.63%. Boyd Gaming’s dividend payout ratio is 19.42%.

BYD has been the subject of several research reports. Nomura raised their price target on shares of Boyd Gaming to $42.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. Stifel Nicolaus reiterated a “hold” rating on shares of Boyd Gaming in a research note on Thursday, December 21st. Zacks Investment Research upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Wednesday, January 3rd. Bank of America upgraded shares of Boyd Gaming from a “neutral” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Friday, January 5th. Finally, Argus started coverage on shares of Boyd Gaming in a research note on Wednesday, January 17th. They issued a “buy” rating and a $44.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $35.81.

In related news, VP William R. Boyd sold 7,528 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $35.23, for a total transaction of $265,211.44. Following the transaction, the vice president now owns 3,714 shares in the company, valued at approximately $130,844.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Keith Smith sold 70,000 shares of the company’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $35.88, for a total transaction of $2,511,600.00. Following the transaction, the chief executive officer now owns 1,202,714 shares in the company, valued at $43,153,378.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 328,294 shares of company stock worth $11,448,808. 28.88% of the stock is owned by corporate insiders.

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About Boyd Gaming

Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.

Institutional Ownership by Quarter for Boyd Gaming (NYSE:BYD)

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