Boyd Gaming Corporation $BYD Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its position in Boyd Gaming Corporation (NYSE:BYD) by 367.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 135,930 shares of the company’s stock after acquiring an additional 106,878 shares during the period. BNP Paribas Financial Markets’ holdings in Boyd Gaming were worth $11,587,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BYD. Advisors Asset Management Inc. lifted its holdings in shares of Boyd Gaming by 56.8% in the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after buying an additional 196 shares during the period. First Horizon Corp acquired a new stake in shares of Boyd Gaming in the fourth quarter valued at $41,000. Geneos Wealth Management Inc. lifted its holdings in shares of Boyd Gaming by 139.9% in the second quarter. Geneos Wealth Management Inc. now owns 619 shares of the company’s stock valued at $48,000 after buying an additional 361 shares during the period. Employees Retirement System of Texas acquired a new stake in shares of Boyd Gaming in the third quarter valued at $53,000. Finally, TD Private Client Wealth LLC lifted its holdings in shares of Boyd Gaming by 24.5% in the fourth quarter. TD Private Client Wealth LLC now owns 854 shares of the company’s stock valued at $73,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

Boyd Gaming Stock Down 0.1%

Shares of Boyd Gaming stock opened at $87.78 on Monday. The stock has a 50-day moving average price of $84.03 and a 200 day moving average price of $83.93. The company has a market cap of $6.52 billion, a P/E ratio of 3.85, a P/E/G ratio of 2.05 and a beta of 1.08. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. Boyd Gaming Corporation has a 1 year low of $73.00 and a 1 year high of $89.96.

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

Boyd Gaming declared that its Board of Directors has authorized a stock repurchase program on Thursday, April 23rd that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Boyd Gaming Dividend Announcement

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

Insider Activity

In other Boyd Gaming news, CEO Keith Smith sold 100,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $85.90, for a total value of $8,590,000.00. Following the transaction, the chief executive officer directly owned 996,981 shares of the company’s stock, valued at $85,640,667.90. This represents a 9.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the transaction, the chairman directly owned 1,609,808 shares in the company, valued at approximately $135,272,166.24. The trade was a 3.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 200,000 shares of company stock valued at $17,038,987. Company insiders own 22.82% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Susquehanna cut their price objective on Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Wells Fargo & Company reduced their target price on Boyd Gaming from $84.00 to $83.00 and set an “equal weight” rating for the company in a report on Thursday, April 16th. Stifel Nicolaus reduced their target price on Boyd Gaming from $95.00 to $91.00 and set a “hold” rating for the company in a report on Friday, April 24th. Citigroup upped their target price on Boyd Gaming from $86.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Finally, JPMorgan Chase & Co. upped their target price on Boyd Gaming from $89.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $92.08.

About Boyd Gaming

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.