First Trust Advisors LP boosted its holdings in Boyd Gaming Co. (NYSE:BYD) by 87.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 122,754 shares of the company’s stock after buying an additional 57,103 shares during the period. First Trust Advisors LP’s holdings in Boyd Gaming were worth $4,303,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Strs Ohio increased its position in Boyd Gaming by 177.8% in the 4th quarter. Strs Ohio now owns 5,000 shares of the company’s stock worth $175,000 after buying an additional 3,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew 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 worth $195,000 after purchasing an additional 1,392 shares in the last quarter. Creative Planning acquired a new stake in shares of Boyd Gaming during the 4th quarter worth approximately $206,000. Miles Capital Inc. acquired a new stake in shares of Boyd Gaming during the 4th quarter worth approximately $213,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Boyd Gaming during the 3rd quarter worth approximately $246,000. 73.99% of the stock is currently owned by institutional investors.
Shares of Boyd Gaming Co. (NYSE BYD) opened at $35.40 on Friday. The company has a debt-to-equity ratio of 2.77, a current ratio of 0.87 and a quick ratio of 0.82. The company has a market capitalization of $4,017.66, a price-to-earnings ratio of 21.59 and a beta of 1.92. Boyd Gaming Co. has a one year low of $19.66 and a one year high of $40.44.
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Friday, March 16th will be paid a $0.45 dividend. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $1.80 annualized dividend and a yield of 5.08%. Boyd Gaming’s payout ratio is currently 12.20%.
Several analysts have recently weighed in on BYD shares. Nomura lifted their price objective on Boyd Gaming to $42.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. Deutsche Bank lifted their price objective on Boyd Gaming to $37.00 and gave the stock a “buy” rating in a report on Wednesday, December 6th. Bank of America raised Boyd Gaming from a “neutral” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Friday, January 5th. Zacks Investment Research raised Boyd Gaming from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Wednesday, January 3rd. Finally, Argus started coverage on Boyd Gaming in a report on Wednesday, January 17th. They set a “buy” rating and a $44.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $35.50.
In other Boyd Gaming news, CEO Keith Smith sold 70,000 shares of the business’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $35.88, for a total value of $2,511,600.00. Following the transaction, the chief executive officer now owns 1,202,714 shares of the company’s stock, valued at $43,153,378.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Brian A. Larson sold 99,077 shares of the business’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $35.71, for a total value of $3,538,039.67. Following the completion of the transaction, the vice president now directly owns 104,216 shares in the company, valued at approximately $3,721,553.36. The disclosure for this sale can be found here. In the last three months, insiders sold 176,605 shares of company stock worth $6,314,851. Insiders own 29.16% of the company’s stock.
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About Boyd Gaming
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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