Bwcp LP Buys 111,825 Shares of Boyd Gaming Co. (NYSE:BYD)

Bwcp LP lifted its position in Boyd Gaming Co. (NYSE:BYD) by 24.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 566,607 shares of the company’s stock after buying an additional 111,825 shares during the quarter. Boyd Gaming comprises approximately 7.8% of Bwcp LP’s holdings, making the stock its 2nd biggest position. Bwcp LP owned approximately 0.60% of Boyd Gaming worth $31,220,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Cohen & Steers Inc. raised its stake in Boyd Gaming by 34.4% in the fourth quarter. Cohen & Steers Inc. now owns 4,747,662 shares of the company’s stock valued at $297,270,000 after buying an additional 1,216,121 shares during the period. Boston Partners raised its stake in Boyd Gaming by 10.0% in the 1st quarter. Boston Partners now owns 3,031,091 shares of the company’s stock valued at $203,276,000 after acquiring an additional 274,876 shares during the period. Bamco Inc. NY lifted its holdings in Boyd Gaming by 4.0% during the 1st quarter. Bamco Inc. NY now owns 1,899,344 shares of the company’s stock valued at $127,864,000 after purchasing an additional 73,491 shares during the last quarter. American Century Companies Inc. boosted its position in Boyd Gaming by 19.7% during the second quarter. American Century Companies Inc. now owns 1,149,701 shares of the company’s stock worth $63,349,000 after purchasing an additional 189,226 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Boyd Gaming by 0.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,002,438 shares of the company’s stock valued at $67,485,000 after purchasing an additional 3,087 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $60.23, for a total value of $4,404,619.90. Following the sale, the chairman now directly owns 1,423,498 shares of the company’s stock, valued at $85,737,284.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Christine J. Spadafor sold 1,242 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $60.36, for a total transaction of $74,967.12. Following the completion of the transaction, the director now directly owns 1,096 shares in the company, valued at $66,154.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total value of $4,404,619.90. Following the completion of the transaction, the chairman now owns 1,423,498 shares of the company’s stock, valued at $85,737,284.54. The disclosure for this sale can be found here. 27.94% of the stock is owned by insiders.

Boyd Gaming Trading Down 0.3 %

BYD opened at $64.06 on Wednesday. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 8.56 and a beta of 1.57. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 1.70. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $68.46. The company has a 50-day simple moving average of $59.37 and a 200 day simple moving average of $58.40.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.09. The company had revenue of $967.50 million during the quarter, compared to the consensus estimate of $909.49 million. Boyd Gaming had a net margin of 13.32% and a return on equity of 34.29%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.58 EPS. Analysts predict that Boyd Gaming Co. will post 6.25 EPS for the current fiscal year.

Boyd Gaming Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Sunday, September 15th will be paid a $0.17 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.68 annualized dividend and a dividend yield of 1.06%. Boyd Gaming’s payout ratio is 12.21%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. StockNews.com upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Bank of America raised their price objective on shares of Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Morgan Stanley upgraded Boyd Gaming from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $66.00 to $74.00 in a research note on Wednesday, September 4th. Stifel Nicolaus boosted their price target on Boyd Gaming from $65.00 to $67.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, Macquarie lowered their price objective on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.31.

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.