Oliver Luxxe Assets LLC Makes New $1.88 Million Investment in Boyd Gaming Corporation $BYD

Oliver Luxxe Assets LLC bought a new stake in Boyd Gaming Corporation (NYSE:BYD) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 21,722 shares of the company’s stock, valued at approximately $1,878,000.

Several other institutional investors have also modified their holdings of BYD. First Trust Advisors LP grew its holdings in shares of Boyd Gaming by 679.7% in the 2nd quarter. First Trust Advisors LP now owns 1,122,869 shares of the company’s stock worth $87,842,000 after acquiring an additional 978,853 shares during the period. Norges Bank purchased a new stake in shares of Boyd Gaming in the second quarter valued at about $54,933,000. Wedge Capital Management L L P NC acquired a new stake in shares of Boyd Gaming in the third quarter valued at approximately $32,304,000. LSV Asset Management grew its position in shares of Boyd Gaming by 115.8% in the second quarter. LSV Asset Management now owns 245,100 shares of the company’s stock valued at $19,174,000 after purchasing an additional 131,500 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Boyd Gaming by 11.7% during the 2nd quarter. American Century Companies Inc. now owns 1,213,024 shares of the company’s stock worth $94,895,000 after purchasing an additional 127,167 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Price Performance

Shares of NYSE:BYD opened at $87.96 on Monday. The company has a market cap of $6.87 billion, a P/E ratio of 3.84, a P/E/G ratio of 1.59 and a beta of 1.22. The business has a fifty day simple moving average of $83.15 and a 200-day simple moving average of $83.31. Boyd Gaming Corporation has a 52 week low of $58.94 and a 52 week high of $89.50. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 0.71.

Boyd Gaming (NYSE:BYD) last released its earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share (EPS) for the quarter. Boyd Gaming had a net margin of 46.02% and a return on equity of 34.63%. The business had revenue of $707.32 million for the quarter. Equities research analysts forecast that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be paid a $0.18 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. Boyd Gaming’s dividend payout ratio is 3.15%.

Analysts Set New Price Targets

BYD has been the topic of a number of recent research reports. Mizuho upped their target price on Boyd Gaming from $89.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. UBS Group set a $110.00 price target on Boyd Gaming in a report on Wednesday, December 24th. Wells Fargo & Company started coverage on Boyd Gaming in a research note on Tuesday, November 18th. They set an “equal weight” rating and a $85.00 price objective on the stock. Morgan Stanley lifted their price objective on Boyd Gaming from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Finally, Zacks Research downgraded shares of Boyd Gaming from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $91.00.

Insiders Place Their Bets

In related news, Director William R. Boyd sold 20,000 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $80.36, for a total value of $1,607,200.00. Following the completion of the transaction, the director owned 1,960,447 shares of the company’s stock, valued at approximately $157,541,520.92. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 21.97% of the stock is currently owned by insiders.

Boyd Gaming Company Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.