Boston Partners Increases Stake in Boyd Gaming Co. (NYSE:BYD)

Boston Partners increased its position in Boyd Gaming Co. (NYSE:BYD) by 10.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,031,091 shares of the company’s stock after acquiring an additional 274,876 shares during the quarter. Boston Partners owned about 3.19% of Boyd Gaming worth $203,276,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in Boyd Gaming by 57.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock worth $35,000 after purchasing an additional 189 shares during the period. Parkside Financial Bank & Trust boosted its stake in Boyd Gaming by 57.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 647 shares of the company’s stock worth $41,000 after purchasing an additional 236 shares during the period. Lazard Asset Management LLC boosted its stake in Boyd Gaming by 4.9% in the 1st quarter. Lazard Asset Management LLC now owns 5,361 shares of the company’s stock worth $360,000 after purchasing an additional 249 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Boyd Gaming by 0.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 31,457 shares of the company’s stock worth $2,118,000 after purchasing an additional 264 shares during the period. Finally, QRG Capital Management Inc. boosted its stake in Boyd Gaming by 3.0% in the 4th quarter. QRG Capital Management Inc. now owns 11,363 shares of the company’s stock worth $711,000 after purchasing an additional 327 shares during the period. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Trading Down 4.3 %

BYD stock traded down $2.49 during midday trading on Friday, hitting $55.29. The company had a trading volume of 1,422,300 shares, compared to its average volume of 1,020,552. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.61. Boyd Gaming Co. has a 52 week low of $49.34 and a 52 week high of $68.46. The stock’s 50 day moving average price is $55.37 and its 200 day moving average price is $59.67. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 8.51 and a beta of 1.58.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.09. Boyd Gaming had a return on equity of 34.08% and a net margin of 13.32%. The firm had revenue of $967.50 million during the quarter, compared to the consensus estimate of $909.49 million. During the same quarter in the previous year, the company posted $1.58 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts expect that Boyd Gaming Co. will post 6.17 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Saturday, June 15th were given a $0.17 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.68 annualized dividend and a yield of 1.23%. Boyd Gaming’s payout ratio is currently 12.21%.

Boyd Gaming declared that its Board of Directors has approved a share repurchase plan on Monday, May 13th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 9.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

BYD has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft downgraded Boyd Gaming from a “buy” rating to a “hold” rating and dropped their price target for the company from $78.00 to $71.00 in a research report on Friday, April 26th. Barclays cut their price objective on Boyd Gaming from $70.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Morgan Stanley cut their price objective on Boyd Gaming from $68.00 to $66.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Macquarie cut their price objective on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Finally, Stifel Nicolaus boosted their price objective on Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $90.08.

Insider Activity at Boyd Gaming

In related news, Director Christine J. Spadafor sold 1,874 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $53.38, for a total transaction of $100,034.12. Following the completion of the transaction, the director now owns 2,338 shares in the company, valued at $124,802.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 27.94% of the stock is owned by corporate insiders.

Boyd Gaming Company Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.