Cubist Systematic Strategies LLC Increases Holdings in Boyd Gaming Co. (BYD)

Cubist Systematic Strategies LLC raised its holdings in shares of Boyd Gaming Co. (NYSE:BYD) by 288.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,309 shares of the company’s stock after acquiring an additional 35,119 shares during the period. Cubist Systematic Strategies LLC’s holdings in Boyd Gaming were worth $1,507,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Mercantile Trust Co. acquired a new stake in Boyd Gaming during the 1st quarter valued at approximately $115,000. LS Investment Advisors LLC increased its holdings in shares of Boyd Gaming by 100.9% during the 1st quarter. LS Investment Advisors LLC now owns 4,453 shares of the company’s stock valued at $142,000 after purchasing an additional 2,237 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Boyd Gaming during the 4th quarter valued at approximately $183,000. Silvant Capital Management LLC purchased a new position in shares of Boyd Gaming during the 1st quarter valued at approximately $188,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Boyd Gaming by 33.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,559 shares of the company’s stock valued at $195,000 after purchasing an additional 1,392 shares in the last quarter. Institutional investors and hedge funds own 73.60% of the company’s stock.

Several equities analysts have recently weighed in on BYD shares. ValuEngine raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. SunTrust Banks cut their target price on shares of Boyd Gaming to $38.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Barclays reaffirmed an “equal weight” rating and set a $33.00 target price (down from $35.00) on shares of Boyd Gaming in a report on Wednesday, February 21st. Morgan Stanley reaffirmed an “equal weight” rating and set a $34.00 target price (down from $35.00) on shares of Boyd Gaming in a report on Wednesday, February 21st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $40.00 target price (up from $35.00) on shares of Boyd Gaming in a report on Wednesday, February 21st. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Boyd Gaming currently has a consensus rating of “Buy” and an average price target of $37.92.

Shares of Boyd Gaming opened at $36.85 on Tuesday, according to MarketBeat. The firm has a market capitalization of $4.12 billion, a P/E ratio of 33.55 and a beta of 1.81. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 2.66. Boyd Gaming Co. has a one year low of $24.17 and a one year high of $40.44.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, April 26th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.35 by $0.04. The company had revenue of $606.10 million during the quarter, compared to analyst estimates of $608.99 million. Boyd Gaming had a net margin of 8.18% and a return on equity of 11.84%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. equities research analysts expect that Boyd Gaming Co. will post 1.31 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, July 15th. Investors of record on Friday, June 29th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, June 28th. Boyd Gaming’s payout ratio is presently 19.42%.

In related news, VP William R. Boyd sold 20,000 shares of the business’s stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $33.62, for a total value of $672,400.00. Following the completion of the sale, the vice president now owns 21,122 shares of the company’s stock, valued at approximately $710,121.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 28.88% of the stock is currently owned by insiders.

Boyd Gaming Company Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South. As of December 31, 2017, the company owned and operated 24 gaming entertainment properties offering a total of 1,358,856 square feet of casino space, 30,267 slot machines, 632 table games, and 9,372 hotel rooms located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, and Mississippi.

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

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