Guggenheim Capital LLC boosted its position in shares of Boyd Gaming Co. (NYSE:BYD) by 48.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 288,772 shares of the company’s stock after purchasing an additional 94,761 shares during the quarter. Guggenheim Capital LLC’s holdings in Boyd Gaming were worth $9,201,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan increased its holdings in Boyd Gaming by 4.5% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 36,320 shares of the company’s stock worth $1,273,000 after purchasing an additional 1,560 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in Boyd Gaming by 13.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 14,813 shares of the company’s stock worth $472,000 after purchasing an additional 1,771 shares during the period. LS Investment Advisors LLC increased its holdings in shares of Boyd Gaming by 100.9% in the 1st quarter. LS Investment Advisors LLC now owns 4,453 shares of the company’s stock valued at $142,000 after acquiring an additional 2,237 shares during the period. Buckley Wealth Management LLC increased its holdings in shares of Boyd Gaming by 14.1% in the 1st quarter. Buckley Wealth Management LLC now owns 19,688 shares of the company’s stock valued at $627,000 after acquiring an additional 2,428 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Boyd Gaming by 41.1% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,344 shares of the company’s stock valued at $298,000 after acquiring an additional 2,721 shares during the period. Institutional investors own 73.61% of the company’s stock.
BYD has been the topic of a number of analyst reports. Zacks Investment Research downgraded Boyd Gaming from a “hold” rating to a “sell” rating in a report on Wednesday, March 7th. Morgan Stanley raised their price objective on Boyd Gaming from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday. ValuEngine raised Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Barclays raised Boyd Gaming from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $33.00 to $40.00 in a research report on Tuesday, May 1st. Finally, Telsey Advisory Group assumed coverage on Boyd Gaming in a research report on Tuesday, March 13th. They issued a “market perform” rating and a $36.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $40.09.
Shares of BYD opened at $34.50 on Friday. Boyd Gaming Co. has a one year low of $24.17 and a one year high of $40.44. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 2.66. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 33.50 and a beta of 1.81.
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 Zacks’ consensus estimate of $0.35 by $0.04. Boyd Gaming had a return on equity of 11.84% and a net margin of 8.18%. The company had revenue of $606.10 million during the quarter, compared to analysts’ expectations of $608.99 million. During the same quarter in the previous year, the firm posted $0.32 EPS. The firm’s revenue was down .7% compared to the same quarter last year. equities research analysts expect that Boyd Gaming Co. will post 1.31 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, July 15th. Shareholders of record on Friday, June 29th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, June 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.70%. Boyd Gaming’s dividend payout ratio is currently 19.42%.
In other Boyd Gaming news, VP William R. Boyd sold 20,000 shares of Boyd Gaming stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $33.62, for a total transaction 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 accessible through this hyperlink. Insiders own 28.88% of the company’s stock.
About Boyd Gaming
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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