Hsbc Holdings PLC Buys 59,460 Shares of Boyd Gaming Corporation $BYD

Hsbc Holdings PLC grew its stake in Boyd Gaming Corporation (NYSE:BYD) by 711.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,813 shares of the company’s stock after buying an additional 59,460 shares during the quarter. Hsbc Holdings PLC owned approximately 0.09% of Boyd Gaming worth $5,792,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. TD Private Client Wealth LLC lifted its position in shares of Boyd Gaming by 24.5% in the 4th quarter. TD Private Client Wealth LLC now owns 854 shares of the company’s stock worth $73,000 after purchasing an additional 168 shares during the period. Advisors Asset Management Inc. lifted its holdings in Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after buying an additional 196 shares during the period. Interchange Capital Partners LLC boosted its position in Boyd Gaming by 9.0% during the 4th quarter. Interchange Capital Partners LLC now owns 2,996 shares of the company’s stock valued at $255,000 after acquiring an additional 247 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Boyd Gaming in the 4th quarter valued at $25,000. Finally, Altshuler Shaham Ltd bought a new position in shares of Boyd Gaming in the 4th quarter worth $25,000. Institutional investors own 76.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on BYD. Texas Capital upgraded shares of Boyd Gaming to a “strong-buy” rating in a report on Wednesday, June 3rd. Barclays decreased their target price on shares of Boyd Gaming from $87.00 to $86.00 and set an “equal weight” rating for the company in a research report on Friday, April 24th. Susquehanna reduced their price target on Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Wells Fargo & Company lowered their price objective on Boyd Gaming from $84.00 to $83.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. Finally, The Goldman Sachs Group started coverage on Boyd Gaming in a research note on Friday, June 26th. They issued a “neutral” rating and a $91.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $93.15.

Insiders Place Their Bets

In other news, Chairman Marianne Boyd Johnson sold 62,914 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $84.03, for a total value of $5,286,663.42. Following the sale, the chairman owned 1,609,808 shares in the company, valued at $135,272,166.24. This represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Keith Smith sold 100,000 shares of Boyd Gaming stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $85.90, for a total value of $8,590,000.00. Following the transaction, the chief executive officer owned 996,981 shares of the company’s stock, valued at approximately $85,640,667.90. This represents a 9.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 200,000 shares of company stock valued at $17,038,987 over the last 90 days. 22.82% of the stock is currently owned by insiders.

Boyd Gaming Stock Performance

Shares of BYD stock opened at $87.46 on Friday. The business has a fifty day moving average of $84.99 and a 200 day moving average of $84.75. Boyd Gaming Corporation has a 1 year low of $76.33 and a 1 year high of $91.00. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.60 and a quick ratio of 0.58. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 3.83, a price-to-earnings-growth ratio of 2.03 and a beta of 1.07.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.16). Boyd Gaming had a net margin of 44.84% and a return on equity of 25.63%. The firm had revenue of $997.36 million during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company posted $1.62 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. As a group, research analysts expect that Boyd Gaming Corporation will post 7.32 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, June 15th. Boyd Gaming’s dividend payout ratio (DPR) is 3.51%.

Boyd Gaming announced that its board has approved a stock buyback plan on Thursday, April 23rd that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 7.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.