Vanguard Personalized Indexing Management LLC Increases Stock Position in Boyd Gaming Co. (NYSE:BYD)

Vanguard Personalized Indexing Management LLC raised its position in Boyd Gaming Co. (NYSE:BYD) by 33.2% during the second quarter, Holdings Channel.com reports. The fund owned 9,103 shares of the company’s stock after purchasing an additional 2,269 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Boyd Gaming were worth $493,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its stake in shares of Boyd Gaming by 57.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock worth $35,000 after purchasing an additional 189 shares during the last quarter. AlphaMark Advisors LLC increased its stake in shares of Boyd Gaming by 2.6% during the second quarter. AlphaMark Advisors LLC now owns 8,063 shares of the company’s stock valued at $444,000 after buying an additional 205 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Boyd Gaming by 4.9% during the first quarter. Lazard Asset Management LLC now owns 5,361 shares of the company’s stock valued at $360,000 after acquiring an additional 249 shares in the last quarter. Blue Trust Inc. lifted its stake 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 acquiring an additional 288 shares during the period. Finally, Signaturefd LLC boosted its holdings in 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 acquiring an additional 323 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Price Performance

BYD opened at $64.89 on Friday. The firm has a market cap of $6.16 billion, a PE ratio of 11.65 and a beta of 1.57. The stock has a 50-day moving average price of $59.60 and a 200-day moving average price of $58.48. Boyd Gaming Co. has a 1 year low of $49.34 and a 1 year high of $68.46. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.83 and a quick ratio of 0.79.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, July 25th. The company reported $1.58 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $909.49 million. During the same period in the previous year, the company earned $1.58 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts predict that Boyd Gaming Co. will post 6.25 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Sunday, September 15th will be given a $0.17 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.68 annualized dividend and a yield of 1.05%. Boyd Gaming’s dividend payout ratio (DPR) is presently 12.21%.

Insiders Place Their Bets

In other news, 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 transaction, the chairman now directly owns 1,423,498 shares of the company’s stock, valued at $85,737,284.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of the business’s 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 completion of the transaction, the chairman now directly owns 1,423,498 shares of the company’s stock, valued at $85,737,284.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christine J. Spadafor sold 1,242 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Corporate insiders own 27.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.