Boyd Gaming Corporation $BYD Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Boyd Gaming Corporation (NYSE:BYD) by 32.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,984 shares of the company’s stock after purchasing an additional 26,737 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Boyd Gaming were worth $8,956,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BYD. Hsbc Holdings PLC grew its position in shares of Boyd Gaming by 711.8% during the 4th quarter. Hsbc Holdings PLC now owns 67,813 shares of the company’s stock valued at $5,792,000 after buying an additional 59,460 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Boyd Gaming by 12.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,253 shares of the company’s stock worth $618,000 after acquiring an additional 794 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in Boyd Gaming by 72.0% in the fourth quarter. Corient Private Wealth LLC now owns 24,530 shares of the company’s stock worth $2,091,000 after acquiring an additional 10,270 shares during the last quarter. Aristides Capital LLC acquired a new position in Boyd Gaming in the fourth quarter valued at approximately $204,000. Finally, Kera Capital Partners Inc. boosted its stake in Boyd Gaming by 51.6% in the fourth quarter. Kera Capital Partners Inc. now owns 7,603 shares of the company’s stock valued at $643,000 after acquiring an additional 2,587 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

Boyd Gaming Trading Up 0.2%

NYSE:BYD opened at $84.84 on Monday. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 3.72, a PEG ratio of 1.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.60. Boyd Gaming Corporation has a 1 year low of $75.13 and a 1 year high of $89.96. The business has a fifty day moving average of $84.67 and a 200-day moving average of $84.29.

Boyd Gaming (NYSE:BYD) last issued 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). The company had revenue of $997.36 million for the quarter, compared to the consensus estimate of $1.04 billion. Boyd Gaming had a net margin of 44.84% and a return on equity of 25.63%. Boyd Gaming’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 earnings per share. Equities analysts predict that Boyd Gaming Corporation will post 7.32 earnings per share for the current year.

Boyd Gaming Announces Dividend

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

Boyd Gaming declared that its Board of Directors has initiated a share repurchase plan on Thursday, April 23rd that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 7.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BYD shares. Texas Capital raised Boyd Gaming to a “strong-buy” rating in a report on Wednesday, June 3rd. Morgan Stanley reissued a “mixed” rating on shares of Boyd Gaming in a report on Wednesday, April 8th. Weiss Ratings upgraded Boyd Gaming from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 4th. Mizuho cut their target price on Boyd Gaming from $99.00 to $96.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. Finally, Wells Fargo & Company reduced their price target on shares of Boyd Gaming from $84.00 to $83.00 and set an “equal weight” rating for the company in a report on Thursday, April 16th. 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. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $92.08.

Insider Transactions at Boyd Gaming

In other news, Chairman Marianne Boyd Johnson sold 62,914 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were 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 $135,272,166.24. This trade represents a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Keith Smith sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $85.90, for a total transaction of $8,590,000.00. Following the transaction, the chief executive officer owned 996,981 shares in the company, valued at $85,640,667.90. This represents a 9.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 200,000 shares of company stock worth $17,038,987 over the last 90 days. 22.82% of the stock is 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.