Bwcp LP Has $31.22 Million Stock Holdings in Boyd Gaming Co. (NYSE:BYD)

Bwcp LP raised its stake in Boyd Gaming Co. (NYSE:BYD) by 24.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 566,607 shares of the company’s stock after acquiring an additional 111,825 shares during the period. Boyd Gaming comprises about 7.8% of Bwcp LP’s investment portfolio, making the stock its 2nd largest position. Bwcp LP’s holdings in Boyd Gaming were worth $31,220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. III Capital Management raised its stake in Boyd Gaming by 300.0% during the fourth quarter. III Capital Management now owns 40,000 shares of the company’s stock worth $2,504,000 after buying an additional 30,000 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of Boyd Gaming by 14.8% in the 1st quarter. Retirement Systems of Alabama now owns 223,978 shares of the company’s stock worth $15,078,000 after acquiring an additional 28,844 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Boyd Gaming by 14.7% in the 1st quarter. Sei Investments Co. now owns 398,823 shares of the company’s stock valued at $26,849,000 after purchasing an additional 51,252 shares during the period. Alaska Permanent Fund Corp lifted its stake in shares of Boyd Gaming by 301.7% in the 1st quarter. Alaska Permanent Fund Corp now owns 28,120 shares of the company’s stock valued at $1,893,000 after purchasing an additional 21,120 shares during the period. Finally, Norges Bank bought a new stake in shares of Boyd Gaming during the 4th quarter valued at about $44,773,000. Institutional investors and hedge funds own 76.81% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Boyd Gaming Trading Down 0.3 %

NYSE BYD opened at $64.06 on Wednesday. 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 firm has a market capitalization of $6.08 billion, a P/E ratio of 11.50, a PEG ratio of 8.56 and a beta of 1.57. The business has a fifty day simple moving average of $59.37 and a 200 day simple moving average of $58.40. Boyd Gaming Co. has a 12 month low of $49.34 and a 12 month high of $68.46.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09. The company had revenue of $967.50 million for the quarter, compared to analyst estimates of $909.49 million. Boyd Gaming had a net margin of 13.32% and a return on equity of 34.29%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $1.58 earnings per share. On average, analysts predict that Boyd Gaming Co. will post 6.25 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

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

Insider Buying and Selling

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of the company’s stock in a transaction 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 transaction, the director now owns 1,096 shares in the company, valued at approximately $66,154.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $60.36, for a total value of $74,967.12. Following the transaction, the director now directly owns 1,096 shares in the company, valued at $66,154.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the transaction, the chairman now directly 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. 27.94% of the stock is currently owned by corporate insiders.

Boyd Gaming 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.