KCG Holdings Inc. raised its stake in Boyd Gaming Corporation (NYSE:BYD) by 47.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,430 shares of the company’s stock after buying an additional 9,775 shares during the period. KCG Holdings Inc.’s holdings in Boyd Gaming Corporation were worth $670,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new stake in Boyd Gaming Corporation during the first quarter valued at $157,000. Victory Capital Management Inc. acquired a new stake in Boyd Gaming Corporation during the first quarter valued at $175,000. State of Alaska Department of Revenue boosted its stake in Boyd Gaming Corporation by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 9,110 shares of the company’s stock valued at $200,000 after buying an additional 240 shares during the last quarter. Teza Capital Management LLC acquired a new stake in Boyd Gaming Corporation during the first quarter valued at $226,000. Finally, Parametrica Management Ltd acquired a new stake in Boyd Gaming Corporation during the first quarter valued at $312,000. Hedge funds and other institutional investors own 71.08% of the company’s stock.
Boyd Gaming Corporation (NYSE:BYD) traded down 2.21% during mid-day trading on Friday, reaching $25.20. The company had a trading volume of 2,974,743 shares. Boyd Gaming Corporation has a 12-month low of $16.77 and a 12-month high of $26.67. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 6.66 and a beta of 1.92. The firm has a 50-day moving average price of $25.28 and a 200 day moving average price of $22.73.
Boyd Gaming Corporation (NYSE:BYD) last issued its earnings results on Thursday, July 27th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by $0.04. The business had revenue of $599.87 million during the quarter, compared to analysts’ expectations of $602.39 million. Boyd Gaming Corporation had a return on equity of 13.58% and a net margin of 19.15%. Boyd Gaming Corporation’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.16 EPS. Analysts expect that Boyd Gaming Corporation will post $1.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, July 15th. Shareholders of record on Thursday, June 15th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Tuesday, June 13th. Boyd Gaming Corporation’s payout ratio is 5.25%.
Several equities research analysts have weighed in on the company. BidaskClub upgraded Boyd Gaming Corporation from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Telsey Advisory Group upped their target price on Boyd Gaming Corporation from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday. Zacks Investment Research upgraded Boyd Gaming Corporation from a “sell” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Friday, July 14th. Deutsche Bank AG reiterated a “buy” rating and set a $26.00 price target (up from $25.00) on shares of Boyd Gaming Corporation in a report on Wednesday, May 3rd. Finally, Instinet reiterated a “buy” rating and set a $30.00 price target (up from $27.00) on shares of Boyd Gaming Corporation in a report on Monday, June 19th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $26.47.
In other Boyd Gaming Corporation news, VP William R. Boyd sold 15,000 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $24.56, for a total value of $368,400.00. Following the transaction, the vice president now owns 18,251 shares in the company, valued at $448,244.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert L. Boughner sold 25,510 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $25.21, for a total transaction of $643,107.10. Following the completion of the transaction, the director now owns 65,510 shares in the company, valued at approximately $1,651,507.10. The disclosure for this sale can be found here. Insiders sold 202,763 shares of company stock worth $5,032,829 in the last 90 days. Corporate insiders own 29.16% of the company’s stock.
About Boyd Gaming Corporation
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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