Victory Capital Management Inc. Acquires 647 Shares of Boyd Gaming Co. (NYSE:BYD)

Victory Capital Management Inc. lifted its holdings in shares of Boyd Gaming Co. (NYSE:BYD) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,522 shares of the company’s stock after purchasing an additional 647 shares during the period. Victory Capital Management Inc.’s holdings in Boyd Gaming were worth $800,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BYD. Principal Securities Inc. bought a new stake in shares of Boyd Gaming during the 4th quarter worth $50,000. Norges Bank bought a new stake in shares of Boyd Gaming during the 4th quarter worth $44,773,000. Franklin Resources Inc. raised its stake in shares of Boyd Gaming by 20.1% during the 4th quarter. Franklin Resources Inc. now owns 627,542 shares of the company’s stock worth $39,290,000 after purchasing an additional 105,142 shares during the period. Hsbc Holdings PLC increased its holdings in Boyd Gaming by 15.1% in the 4th quarter. Hsbc Holdings PLC now owns 257,566 shares of the company’s stock worth $16,108,000 after acquiring an additional 33,861 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Boyd Gaming in the 4th quarter worth about $4,336,000. 76.81% of the stock is currently owned by institutional investors.

Boyd Gaming Stock Performance

Shares of BYD opened at $64.03 on Friday. The company has a market cap of $6.07 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 8.56 and a beta of 1.57. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 1.70. The stock has a 50-day moving average price of $59.14 and a 200-day moving average price of $58.42. Boyd Gaming Co. has a 12-month low of $49.34 and a 12-month high of $68.46.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09. The firm had revenue of $967.50 million during the quarter, compared to the consensus estimate of $909.49 million. Boyd Gaming had a return on equity of 34.29% and a net margin of 13.32%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $1.58 EPS. As a group, equities analysts forecast that Boyd Gaming Co. will post 6.25 earnings per share 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 given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.06%. Boyd Gaming’s dividend payout ratio (DPR) is presently 12.21%.

Insider Activity

In related news, Director Christine J. Spadafor sold 1,242 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 owns 1,096 shares in the company, valued at approximately $66,154.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Christine J. Spadafor sold 1,242 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 owns 1,096 shares in the company, valued at approximately $66,154.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 disclosure for this sale can be found here. Corporate insiders own 27.94% of the company’s stock.

Wall Street Analysts Forecast Growth

BYD has been the subject of several recent research reports. Macquarie decreased their price objective on 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 lifted their price objective on Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Bank of America lifted their price objective on Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. StockNews.com raised Boyd Gaming from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, Morgan Stanley raised Boyd Gaming from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $66.00 to $74.00 in a report on Wednesday, September 4th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.31.

Boyd Gaming Company Profile

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.