Deprince Race & Zollo Inc. Takes $21.81 Million Position in Boyd Gaming Corporation $BYD

Deprince Race & Zollo Inc. acquired a new stake in Boyd Gaming Corporation (NYSE:BYD) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 265,398 shares of the company’s stock, valued at approximately $21,810,000. Deprince Race & Zollo Inc. owned about 0.35% of Boyd Gaming as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of Boyd Gaming by 18.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,755,659 shares of the company’s stock worth $149,652,000 after buying an additional 277,529 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Boyd Gaming by 118.2% during the fourth quarter. Invesco Ltd. now owns 1,427,828 shares of the company’s stock valued at $121,708,000 after buying an additional 773,394 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Boyd Gaming by 11.1% during the fourth quarter. Franklin Resources Inc. now owns 1,357,412 shares of the company’s stock valued at $115,706,000 after buying an additional 136,129 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Boyd Gaming by 26.7% in the 4th quarter. Geode Capital Management LLC now owns 1,355,209 shares of the company’s stock valued at $115,537,000 after acquiring an additional 285,719 shares during the period. Finally, Nuveen LLC increased its position in shares of Boyd Gaming by 10.6% in the 4th quarter. Nuveen LLC now owns 1,080,331 shares of the company’s stock valued at $92,087,000 after acquiring an additional 103,684 shares during the period. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Boyd Gaming Trading Down 0.2%

Shares of Boyd Gaming stock opened at $87.77 on Friday. The stock has a market cap of $6.52 billion, a PE ratio of 3.85, a price-to-earnings-growth ratio of 2.05 and a beta of 1.07. The firm has a fifty day moving average price of $84.87 and a 200 day moving average price of $84.66. 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.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $1.60 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 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 period in the previous year, the company posted $1.62 earnings per share. Equities research analysts predict that Boyd Gaming Corporation will post 7.32 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be issued a $0.20 dividend. 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 payout ratio is 3.51%.

Boyd Gaming announced that its Board of Directors has approved a share repurchase program on Thursday, April 23rd that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 7.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

BYD has been the subject of a number of research analyst reports. Morgan Stanley restated a “mixed” rating on shares of Boyd Gaming in a research note on Wednesday, April 8th. Susquehanna cut their price objective on Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Weiss Ratings upgraded Boyd Gaming from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 4th. Mizuho reduced their price objective on Boyd Gaming from $99.00 to $96.00 and set an “outperform” rating for the company in a research note on Friday, April 24th. Finally, The Goldman Sachs Group started coverage on Boyd Gaming in a report on Friday, June 26th. They set a “neutral” rating and a $91.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $93.15.

Insider Transactions at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 62,914 shares of Boyd Gaming stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $84.03, for a total transaction 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. This trade represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Keith Smith sold 100,000 shares of the business’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 value of $8,590,000.00. Following the completion of the transaction, the chief executive officer directly owned 996,981 shares of the company’s stock, valued at $85,640,667.90. The trade was a 9.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 200,000 shares of company stock worth $17,038,987 in the last 90 days. Company insiders own 22.82% of the company’s stock.

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.