Boyd Gaming Co. (NYSE:BYD) Stock Position Increased by Gabelli Funds LLC

Gabelli Funds LLC increased its position in Boyd Gaming Co. (NYSE:BYD) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 150,300 shares of the company’s stock after buying an additional 1,100 shares during the quarter. Gabelli Funds LLC owned about 0.16% of Boyd Gaming worth $8,282,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in 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 acquiring an additional 189 shares during the last quarter. AlphaMark Advisors LLC boosted its holdings in Boyd Gaming by 2.6% during the second quarter. AlphaMark Advisors LLC now owns 8,063 shares of the company’s stock worth $444,000 after buying an additional 205 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Boyd Gaming by 4.9% during the first quarter. Lazard Asset Management LLC now owns 5,361 shares of the company’s stock worth $360,000 after buying an additional 249 shares in the last quarter. Blue Trust Inc. grew its position in Boyd Gaming by 58.2% in the second quarter. Blue Trust Inc. now owns 783 shares of the company’s stock worth $43,000 after buying an additional 288 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Boyd Gaming by 13.4% in the second quarter. Signaturefd LLC now owns 2,728 shares of the company’s stock valued at $150,000 after buying an additional 323 shares in the last quarter. Institutional investors own 76.81% of the company’s stock.

Insider Transactions at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 73,130 shares of the business’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 value of $4,404,619.90. Following the completion of the sale, the chairman now owns 1,423,498 shares of the company’s stock, valued at approximately $85,737,284.54. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Christine J. Spadafor sold 1,242 shares of the firm’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 transaction, the director now owns 1,096 shares in the company, valued at approximately $66,154.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the company’s stock in a transaction 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 sale, 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. Company insiders own 27.94% of the company’s stock.

Analyst Upgrades and Downgrades

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

Boyd Gaming Stock Performance

Shares of BYD opened at $64.23 on Tuesday. The company has a market capitalization of $6.09 billion, a PE ratio of 11.53, a PEG ratio of 8.56 and a beta of 1.57. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.79 and a current ratio of 0.83. The company’s 50 day moving average price is $59.27 and its 200 day moving average price is $58.39. Boyd Gaming Co. has a 52 week low of $49.34 and a 52 week high of $68.46.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results 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 business had revenue of $967.50 million for the quarter, compared to analysts’ expectations of $909.49 million. During the same period in the previous year, the company posted $1.58 EPS. Boyd Gaming’s revenue was up 5.5% on a year-over-year basis. Research analysts expect that Boyd Gaming Co. will post 6.25 EPS for the current fiscal year.

Boyd Gaming Announces Dividend

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

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.