Putnam Investments LLC decreased its position in Boyd Gaming Co. (NYSE:BYD) by 19.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,307 shares of the company’s stock after selling 12,549 shares during the period. Putnam Investments LLC owned about 0.05% of Boyd Gaming worth $3,290,000 as of its most recent filing with the SEC.
Other hedge funds and institutional investors have also recently modified their holdings of the company. James Investment Research Inc. acquired a new position in shares of Boyd Gaming during the first quarter valued at $141,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Boyd Gaming by 10.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,685 shares of the company’s stock worth $1,946,000 after buying an additional 3,491 shares during the last quarter.
SPX Gestao de Recursos Ltda boosted its stake in shares of Boyd Gaming by 33.8% in the first quarter. SPX Gestao de Recursos Ltda now owns 211,562 shares of the company’s stock worth $13,565,000 after acquiring an additional 53,500 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Boyd Gaming by 340.6% in the first quarter. Empowered Funds LLC now owns 106,090 shares of the company’s stock worth $6,802,000 after acquiring an additional 82,014 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Boyd Gaming by 5.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,716,764 shares of the company’s stock worth $93,615,000 after acquiring an additional 81,217 shares during the last quarter. Institutional investors own 67.98% of the company’s stock.
Wall Street analysts have recently given their opinion on BYD stock. Morgan Stanley upgraded Boyd Gaming from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $69.00 to $75.00. StockNews.com initiated coverage on Boyd Gaming, issuing a “buy” rating on the stock. Argus raised their price target on Boyd Gaming from $78.00 to $80.00 and gave the company a “buy” rating. Finally, Wells Fargo & Company increased their price target on Boyd Gaming from $82.00 to $83.00.
Boyd Gaming’s stock opened at $64.69 on Monday. The company has a fifty day simple moving average of $67.55 and a two-hundred day simple moving average of $66.48. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.84, and a quick ratio of 0.80. Boyd Gaming Co. has a 1 year low of $46.10 and a 1 year high of $73.00. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 1.43, and a beta of 1.76.
Boyd Gaming recently reported its quarterly earnings results, beating the consensus estimate. The company had revenue of $916.95 million for the quarter, compared to analysts’ expectations of $910.59 million. Boyd Gaming’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts predict that Boyd Gaming Co. will post earnings per share of $6.32 for the current year.
The company also announced a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Friday, September 15th will receive a $0.16 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.64 annualized dividend and a dividend yield of 0.99%. Boyd Gaming’s payout ratio is currently 9.26%.
In insider trading news, insider William S. Boyd sold 40,207 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $65.53, for a total value of $2,634,764.71. In related news, Director Christine J. Spadafor sold 735 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $68.02, for a total value of $49,994.70. Insiders have sold 169,681 shares of company stock valued at $11,379,921 in the last quarter.
Boyd Gaming Corporation operates as a multi-jurisdictional gaming company in various states. Its segments include Las Vegas Locals, Downtown Las Vegas, and Midwest & South.