Lisanti Capital Growth LLC acquired a new position in Boyd Gaming Co. (NYSE:BYD) during the 4th quarter, Holdings Channel reports. The fund acquired 24,210 shares of the company’s stock, valued at approximately $849,000.
Other hedge funds also recently made changes to their positions in the company. Strs Ohio raised its position in Boyd Gaming by 177.8% in the fourth quarter. Strs Ohio now owns 5,000 shares of the company’s stock worth $175,000 after acquiring an additional 3,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Boyd Gaming by 33.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,559 shares of the company’s stock worth $195,000 after purchasing an additional 1,392 shares in the last quarter. Fortaleza Asset Management Inc. increased its stake in shares of Boyd Gaming by 80.7% in the third quarter. Fortaleza Asset Management Inc. now owns 5,630 shares of the company’s stock worth $147,000 after purchasing an additional 2,515 shares in the last quarter. Creative Planning purchased a new position in shares of Boyd Gaming in the fourth quarter worth about $206,000. Finally, Miles Capital Inc. purchased a new position in shares of Boyd Gaming in the fourth quarter worth about $213,000. 75.91% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently weighed in on BYD. Zacks Investment Research upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Tuesday, January 9th. Stifel Nicolaus lifted their target price on shares of Boyd Gaming from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Friday, October 27th. ValuEngine downgraded shares of Boyd Gaming from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. SunTrust Banks reiterated a “buy” rating and issued a $27.00 target price on shares of Boyd Gaming in a research note on Tuesday, October 24th. Finally, Deutsche Bank lifted their target price on shares of Boyd Gaming to $47.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $32.93.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Thursday, December 28th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, December 27th. This represents a $0.20 annualized dividend and a yield of 0.56%. Boyd Gaming’s dividend payout ratio is currently 19.23%.
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Boyd Gaming Profile
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.
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