Creative Planning Grows Stock Position in Boyd Gaming Co. (NYSE:BYD)

Creative Planning boosted its position in shares of Boyd Gaming Co. (NYSE:BYD) by 61.3% in the 2nd quarter, Holdings Channel reports. The institutional investor 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Long Pond Capital LP bought a new position in Boyd Gaming during the 2nd quarter valued at about $20,440,000. Ariel Investments LLC grew its stake in shares of Boyd Gaming by 12.5% during the second quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock valued at $167,046,000 after buying an additional 335,984 shares during the last quarter. Boston Partners raised its holdings in shares of Boyd Gaming by 10.0% in the first quarter. Boston Partners now owns 3,031,091 shares of the company’s stock worth $203,276,000 after buying an additional 274,876 shares during the period. Beck Bode LLC bought a new stake in shares of Boyd Gaming during the 1st quarter worth approximately $15,985,000. Finally, Scout Investments Inc. boosted its holdings in Boyd Gaming by 68.7% during the 1st quarter. Scout Investments Inc. now owns 487,441 shares of the company’s stock valued at $32,985,000 after acquiring an additional 198,490 shares during the period. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Stock Up 0.0 %

Shares of BYD opened at $64.16 on Wednesday. The stock has a fifty day simple moving average of $61.01 and a two-hundred day simple moving average of $58.42. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $6.09 billion, a PE ratio of 11.52 and a beta of 1.57. Boyd Gaming Co. has a 52-week low of $49.34 and a 52-week high of $68.46.

Boyd Gaming (NYSE:BYD) last released 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 firm had revenue of $967.50 million for the quarter, compared to analyst estimates of $909.49 million. During the same quarter in the previous year, the company earned $1.58 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities analysts forecast that Boyd Gaming Co. will post 6.25 EPS for the current year.

Boyd Gaming Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Sunday, September 15th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Friday, September 13th. Boyd Gaming’s dividend payout ratio (DPR) is 12.21%.

Insider Activity

In other news, Director Christine J. Spadafor sold 1,242 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $60.36, for a total transaction of $74,967.12. Following the sale, the director now owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Marianne Boyd Johnson sold 73,130 shares of the stock in a transaction 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 transaction, the chairman now owns 1,423,498 shares of the company’s stock, valued at $85,737,284.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 sale, the director now owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 27.94% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Stifel Nicolaus raised their price target on shares of Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Bank of America lifted their price objective on Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Morgan Stanley raised shares of Boyd Gaming from an “equal weight” rating to an “overweight” rating and upped their price target for the stock 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. Finally, Macquarie dropped their price objective on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.