Creative Planning Acquires 3,025 Shares of Boyd Gaming Co. (NYSE:BYD)

Creative Planning increased its stake in Boyd Gaming Co. (NYSE:BYD) by 61.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,959 shares of the company’s stock after buying an additional 3,025 shares during the quarter. Creative Planning’s holdings in Boyd Gaming were worth $439,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC grew its holdings in Boyd Gaming by 71.4% in the 1st quarter. CWM LLC now owns 3,338 shares of the company’s stock valued at $225,000 after buying an additional 1,391 shares in the last quarter. Alaska Permanent Fund Corp raised its holdings in Boyd Gaming by 301.7% in the 1st quarter. Alaska Permanent Fund Corp now owns 28,120 shares of the company’s stock valued at $1,893,000 after buying an additional 21,120 shares during the last quarter. Signet Financial Management LLC lifted its holdings in shares of Boyd Gaming by 2.5% during the first quarter. Signet Financial Management LLC now owns 28,709 shares of the company’s stock worth $1,933,000 after purchasing an additional 707 shares during the period. AlphaMark Advisors LLC lifted its holdings in Boyd Gaming by 4.5% during the 1st quarter. AlphaMark Advisors LLC now owns 7,858 shares of the company’s stock worth $529,000 after buying an additional 341 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Boyd Gaming by 57.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after purchasing an additional 189 shares during the last quarter. Institutional investors own 76.81% of the company’s stock.

Insider Activity at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm’s stock in a transaction that occurred 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 sale, the chairman now owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Christine J. Spadafor sold 1,242 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $60.36, for a total value of $74,967.12. Following the completion of the sale, the director now directly owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total transaction 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 approximately $85,737,284.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 27.94% of the stock is currently owned by insiders.

Boyd Gaming Stock Performance

Shares of BYD opened at $64.16 on Wednesday. The company has a 50-day simple moving average of $61.01 and a two-hundred day simple moving average of $58.42. The firm has a market capitalization of $6.09 billion, a PE ratio of 11.52 and a beta of 1.57. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.83 and a quick ratio of 0.79. Boyd Gaming Co. has a one year low of $49.34 and a one year high of $68.46.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.49 by $0.09. Boyd Gaming had a net margin of 13.32% and a return on equity of 34.29%. The company had revenue of $967.50 million for the quarter, compared to the consensus estimate of $909.49 million. During the same period in the prior year, the firm posted $1.58 EPS. Boyd Gaming’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts anticipate 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 was paid on Tuesday, October 15th. Stockholders of record on Sunday, September 15th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Friday, September 13th. Boyd Gaming’s payout ratio is currently 12.21%.

Analyst Ratings Changes

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