Tower Research Capital LLC TRC lifted its holdings in shares of Boyd Gaming Co. (NYSE:BYD) by 71,861.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,953 shares of the company’s stock after acquiring an additional 12,935 shares during the period. Tower Research Capital LLC TRC’s holdings in Boyd Gaming were worth $349,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of BYD. FMR LLC raised its position in shares of Boyd Gaming by 20.0% during the 1st quarter. FMR LLC now owns 7,182,207 shares of the company’s stock worth $196,506,000 after acquiring an additional 1,198,851 shares in the last quarter. Long Pond Capital LP acquired a new stake in shares of Boyd Gaming during the 2nd quarter worth about $15,769,000. Russell Investments Group Ltd. acquired a new stake in shares of Boyd Gaming during the 2nd quarter worth about $15,123,000. BlackRock Inc. raised its position in shares of Boyd Gaming by 4.6% during the 2nd quarter. BlackRock Inc. now owns 10,191,254 shares of the company’s stock worth $274,551,000 after acquiring an additional 444,253 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Boyd Gaming by 29.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,604,084 shares of the company’s stock worth $43,214,000 after acquiring an additional 369,346 shares in the last quarter. 67.93% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on BYD. Stifel Nicolaus set a $36.00 target price on Boyd Gaming and gave the stock a “buy” rating in a research report on Wednesday, July 31st. ValuEngine downgraded Boyd Gaming from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Telsey Advisory Group upgraded Boyd Gaming from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $31.00 to $36.00 in a research note on Wednesday, July 31st. Susquehanna Bancshares started coverage on Boyd Gaming in a research note on Wednesday, July 24th. They set a “neutral” rating and a $28.00 price target on the stock. Finally, Desjardins upgraded Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $30.89.
NYSE:BYD traded down $0.56 during mid-day trading on Friday, reaching $25.82. 26,789 shares of the stock were exchanged, compared to its average volume of 971,667. The company has a 50 day simple moving average of $24.48 and a 200-day simple moving average of $26.68. The stock has a market capitalization of $2.91 billion, a P/E ratio of 19.46, a P/E/G ratio of 1.13 and a beta of 2.18. The company has a quick ratio of 0.71, a current ratio of 0.75 and a debt-to-equity ratio of 3.90. Boyd Gaming Co. has a 1 year low of $18.98 and a 1 year high of $34.75.
Boyd Gaming (NYSE:BYD) last announced its earnings results on Tuesday, July 30th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). Boyd Gaming had a net margin of 4.18% and a return on equity of 14.13%. The company had revenue of $846.13 million during the quarter, compared to analysts’ expectations of $839.64 million. During the same quarter last year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 37.2% compared to the same quarter last year. As a group, research analysts predict that Boyd Gaming Co. will post 1.72 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be paid a $0.07 dividend. The ex-dividend date is Thursday, September 26th. This represents a $0.28 annualized dividend and a dividend yield of 1.08%. Boyd Gaming’s dividend payout ratio (DPR) is currently 21.05%.
Boyd Gaming 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 & 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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