Cwm LLC Has $225,000 Stock Holdings in Boyd Gaming Co. (NYSE:BYD)

Cwm LLC raised its stake in shares of Boyd Gaming Co. (NYSE:BYD) by 71.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,338 shares of the company’s stock after purchasing an additional 1,391 shares during the quarter. Cwm LLC’s holdings in Boyd Gaming were worth $225,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in BYD. Vanguard Group Inc. boosted its holdings in shares of Boyd Gaming by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 7,980,306 shares of the company’s stock worth $485,442,000 after acquiring an additional 167,849 shares in the last quarter. Cohen & Steers Inc. raised its position in shares of Boyd Gaming by 34.4% during the 4th quarter. Cohen & Steers Inc. now owns 4,747,662 shares of the company’s stock valued at $297,270,000 after acquiring an additional 1,216,121 shares during the last quarter. Boston Partners raised its position in shares of Boyd Gaming by 29.5% during the 4th quarter. Boston Partners now owns 2,756,215 shares of the company’s stock valued at $172,638,000 after acquiring an additional 628,512 shares during the last quarter. HG Vora Capital Management LLC raised its position in shares of Boyd Gaming by 12.5% during the 3rd quarter. HG Vora Capital Management LLC now owns 2,250,000 shares of the company’s stock valued at $136,868,000 after acquiring an additional 250,000 shares during the last quarter. Finally, Frontier Capital Management Co. LLC grew its holdings in shares of Boyd Gaming by 1.2% in the 4th quarter. Frontier Capital Management Co. LLC now owns 986,072 shares of the company’s stock valued at $61,738,000 after buying an additional 11,794 shares during the period. 76.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on BYD. Morgan Stanley upped their target price on shares of Boyd Gaming from $71.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Wells Fargo & Company reduced their price objective on shares of Boyd Gaming from $82.00 to $71.00 and set an “overweight” rating for the company in a research note on Friday, April 26th. Argus cut shares of Boyd Gaming from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Barclays dropped their target price on shares of Boyd Gaming from $70.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Finally, Raymond James initiated coverage on shares of Boyd Gaming in a report on Tuesday, May 21st. They issued an “outperform” rating and a $67.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $91.42.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,874 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $53.38, for a total value of $100,034.12. Following the sale, the director now owns 2,338 shares in the company, valued at $124,802.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 27.94% of the company’s stock.

Boyd Gaming Stock Up 2.2 %

Shares of BYD opened at $53.83 on Friday. Boyd Gaming Co. has a 12 month low of $49.34 and a 12 month high of $73.00. The firm’s 50 day moving average is $55.36 and its 200-day moving average is $60.69. The stock has a market capitalization of $5.11 billion, a PE ratio of 9.66 and a beta of 1.59. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.61.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.06). The firm had revenue of $960.52 million for the quarter, compared to analyst estimates of $947.26 million. Boyd Gaming had a return on equity of 34.76% and a net margin of 14.91%. Equities research analysts forecast that Boyd Gaming Co. will post 6.06 EPS for the current year.

Boyd Gaming Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Saturday, June 15th will be given a $0.17 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.26%. Boyd Gaming’s dividend payout ratio is currently 12.21%.

Boyd Gaming declared that its board has initiated a stock buyback plan on Monday, May 13th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 9.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

About Boyd Gaming

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.