Cerebellum GP LLC raised its holdings in Boyd Gaming Co. (NYSE:BYD) by 119.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,309 shares of the company’s stock after acquiring an additional 6,693 shares during the period. Cerebellum GP LLC’s holdings in Boyd Gaming were worth $256,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of BYD. First Hawaiian Bank purchased a new stake in Boyd Gaming in the 3rd quarter valued at about $100,000. Point72 Hong Kong Ltd purchased a new stake in Boyd Gaming in the 2nd quarter valued at about $130,000. Centaurus Financial Inc. purchased a new stake in Boyd Gaming in the 2nd quarter valued at about $203,000. Oakbrook Investments LLC purchased a new stake in shares of Boyd Gaming during the 3rd quarter worth about $213,000. Finally, Commonwealth Bank of Australia purchased a new stake in shares of Boyd Gaming during the 3rd quarter worth about $250,000. Institutional investors own 71.82% of the company’s stock.
A number of analysts have recently issued reports on BYD shares. Zacks Investment Research upgraded Boyd Gaming from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Monday, December 31st. Desjardins started coverage on Boyd Gaming in a report on Friday, October 19th. They set a “buy” rating for the company. Bank of America reiterated a “buy” rating and set a $37.00 target price on shares of Boyd Gaming in a report on Tuesday, October 16th. Stifel Nicolaus upgraded Boyd Gaming from a “hold” rating to a “buy” rating and decreased their target price for the stock from $37.00 to $33.00 in a report on Friday. Finally, TheStreet cut Boyd Gaming from a “b” rating to a “c+” rating in a report on Monday, November 26th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $36.82.
Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, October 25th. The company reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. The firm had revenue of $612.20 million for the quarter, compared to analyst estimates of $607.60 million. Boyd Gaming had a return on equity of 12.53% and a net margin of 7.19%. Sell-side analysts expect that Boyd Gaming Co. will post 1.34 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Friday, December 28th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.91%. The ex-dividend date is Thursday, December 27th. Boyd Gaming’s dividend payout ratio (DPR) is presently 23.30%.
Boyd Gaming declared that its board has approved a stock repurchase program on Wednesday, December 12th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
In related news, VP William R. Boyd sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $24.19, for a total transaction of $2,419,000.00. Following the transaction, the vice president now directly owns 23,505 shares of the company’s stock, valued at approximately $568,585.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 28.88% of the company’s stock.
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 and South. As of October 15, 2018, the company operated 29 gaming entertainment properties offering a total of 1.76 million square feet of casino space, approximately 38,000 gaming machines, 900 table games, 11,000 hotel rooms, and 320 food and beverage outlets located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.
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