Comerica Bank raised its stake in Boyd Gaming Co. (NYSE:BYD) by 4.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,127 shares of the company’s stock after buying an additional 3,516 shares during the period. Comerica Bank’s holdings in Boyd Gaming were worth $1,800,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Boyd Gaming during the fourth quarter valued at about $11,720,000. Rubric Capital Management LP acquired a new stake in shares of Boyd Gaming during the first quarter valued at about $12,370,000. American Century Companies Inc. increased its stake in shares of Boyd Gaming by 909.7% in the first quarter. American Century Companies Inc. now owns 347,918 shares of the company’s stock valued at $7,658,000 after buying an additional 313,462 shares during the period. TCS Capital Management LLC acquired a new stake in shares of Boyd Gaming during the fourth quarter valued at about $3,691,000. Finally, Mesirow Financial Investment Management Equity Management increased its stake in shares of Boyd Gaming by 15.3% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 1,064,825 shares of the company’s stock valued at $23,437,000 after buying an additional 140,960 shares during the period. Institutional investors own 69.79% of the company’s stock.
Boyd Gaming Co. (NYSE BYD) opened at 24.89 on Friday. The company’s 50-day moving average price is $24.49 and its 200 day moving average price is $21.49. The firm has a market capitalization of $2.82 billion, a PE ratio of 6.83 and a beta of 1.64. Boyd Gaming Co. has a 12 month low of $16.77 and a 12 month high of $26.20.
Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Tuesday, May 2nd. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The firm had revenue of $605.34 million during the quarter, compared to analyst estimates of $601.11 million. Boyd Gaming had a return on equity of 13.66% and a net margin of 18.37%. On average, equities research analysts predict that Boyd Gaming Co. will post $1.14 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Tuesday, June 13th.
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Several equities research analysts have issued reports on BYD shares. Zacks Investment Research upgraded Boyd Gaming from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a report on Tuesday, April 18th. Cann upgraded Boyd Gaming to a “buy” rating and increased their price target for the stock from $20.00 to $27.00 in a report on Wednesday, May 3rd. They noted that the move was a valuation call. Imperial Capital upped their price objective on Boyd Gaming from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, May 4th. Telsey Advisory Group upped their price objective on Boyd Gaming from $23.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 3rd. Finally, Aegis reaffirmed a “buy” rating and set a $27.00 price objective (up from $26.00) on shares of Boyd Gaming in a research report on Wednesday, May 3rd. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $25.64.
In other Boyd Gaming news, CEO Keith Smith sold 21,780 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $25.68, for a total transaction of $559,310.40. Following the completion of the sale, the chief executive officer now directly owns 1,031,554 shares of the company’s stock, valued at approximately $26,490,306.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William R. Boyd sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $24.56, for a total value of $368,400.00. Following the sale, the vice president now directly owns 18,251 shares of the company’s stock, valued at $448,244.56. The disclosure for this sale can be found here. Insiders have sold a total of 202,763 shares of company stock valued at $5,032,829 over the last three months. Corporate insiders own 29.67% of the company’s stock.
Boyd Gaming Company Profile
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
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