Dimensional Fund Advisors LP boosted its stake in Boyd Gaming Co. (NYSE:BYD) by 3.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 525,681 shares of the company’s stock after acquiring an additional 18,256 shares during the period. Dimensional Fund Advisors LP’s holdings in Boyd Gaming were worth $10,923,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of BYD. Oregon Public Employees Retirement Fund raised its stake in shares of Boyd Gaming by 1,978.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 671,007 shares of the company’s stock worth $32,000 after buying an additional 638,716 shares during the last quarter. Intrust Bank NA acquired a new position in Boyd Gaming during the fourth quarter valued at approximately $223,000. Van ECK Associates Corp grew its holdings in Boyd Gaming by 28.8% during the fourth quarter. Van ECK Associates Corp now owns 12,423 shares of the company’s stock valued at $258,000 after purchasing an additional 2,781 shares during the period. Amalgamated Bank grew its holdings in Boyd Gaming by 104.8% during the fourth quarter. Amalgamated Bank now owns 12,746 shares of the company’s stock valued at $265,000 after purchasing an additional 6,522 shares during the period. Finally, LPL Financial LLC grew its holdings in Boyd Gaming by 3.1% during the fourth quarter. LPL Financial LLC now owns 13,926 shares of the company’s stock valued at $289,000 after purchasing an additional 422 shares during the period. 66.26% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP William R. Boyd sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $28.60, for a total value of $114,400.00. Following the completion of the transaction, the vice president now owns 34,015 shares in the company, valued at $972,829. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 29.35% of the stock is owned by corporate insiders.
A number of research analysts recently issued reports on BYD shares. TheStreet upgraded shares of Boyd Gaming from a “c+” rating to a “b” rating in a report on Monday, March 25th. Morgan Stanley set a $34.00 price objective on shares of Boyd Gaming and gave the company a “buy” rating in a report on Friday, April 26th. Finally, ValuEngine cut shares of Boyd Gaming from a “hold” rating to a “sell” rating in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $34.88.
Boyd Gaming stock opened at $26.74 on Wednesday. The company has a market capitalization of $2.78 billion, a PE ratio of 20.11, a P/E/G ratio of 0.70 and a beta of 2.15. Boyd Gaming Co. has a twelve month low of $18.98 and a twelve month high of $39.35. The company has a quick ratio of 0.68, a current ratio of 0.72 and a debt-to-equity ratio of 4.08.
Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.43 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. The company had revenue of $827.30 million during the quarter, compared to analysts’ expectations of $826.52 million. Boyd Gaming had a net margin of 4.18% and a return on equity of 13.57%. The business’s quarterly revenue was up 36.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 earnings per share. As a group, equities research analysts predict that Boyd Gaming Co. will post 1.79 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, June 14th. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.06. Boyd Gaming’s dividend payout ratio is 18.05%.
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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 & South. As of March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.
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