Russell Investments Group Ltd. grew its position in Boyd Gaming Co. (NYSE:BYD) by 38.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,978 shares of the company’s stock after buying an additional 5,273 shares during the quarter. Russell Investments Group Ltd.’s holdings in Boyd Gaming were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Amalgamated Bank grew its stake in shares of Boyd Gaming by 5.0% in the second quarter. Amalgamated Bank now owns 11,456 shares of the company’s stock valued at $284,000 after buying an additional 546 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Boyd Gaming by 17.6% in the second quarter. Victory Capital Management Inc. now owns 9,359 shares of the company’s stock valued at $232,000 after buying an additional 1,403 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Boyd Gaming by 0.6% in the second quarter. American Century Companies Inc. now owns 350,004 shares of the company’s stock valued at $8,684,000 after buying an additional 2,086 shares in the last quarter. Fortaleza Asset Management Inc. grew 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 valued at $147,000 after buying an additional 2,515 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Boyd Gaming by 2.4% in the second quarter. Swiss National Bank now owns 142,300 shares of the company’s stock valued at $3,530,000 after buying an additional 3,300 shares in the last quarter. 76.22% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently weighed in on BYD. Zacks Investment Research raised Boyd Gaming from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Wednesday. Nomura lifted their target price on Boyd Gaming to $42.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. Stifel Nicolaus reiterated a “hold” rating on shares of Boyd Gaming in a report on Thursday, December 21st. ValuEngine lowered Boyd Gaming from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Deutsche Bank lifted their target price on Boyd Gaming to $37.00 and gave the company a “buy” rating in a report on Wednesday, December 6th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $29.80.
Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). The business had revenue of $587.70 million for the quarter, compared to analysts’ expectations of $592.29 million. Boyd Gaming had a return on equity of 13.82% and a net margin of 5.08%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. research analysts anticipate that Boyd Gaming Co. will post 1.04 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Thursday, December 28th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Wednesday, December 27th. Boyd Gaming’s dividend payout ratio (DPR) is 19.23%.
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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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