Dimensional Fund Advisors LP Raises Position in Boyd Gaming Co. (BYD)

Dimensional Fund Advisors LP increased its stake in shares of Boyd Gaming Co. (NYSE:BYD) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 525,681 shares of the company’s stock after purchasing an additional 18,256 shares during the period. Dimensional Fund Advisors LP owned 0.47% of Boyd Gaming worth $10,923,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BYD. Oregon Public Employees Retirement Fund raised its position in shares of Boyd Gaming by 1,978.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 671,007 shares of the company’s stock worth $32,000 after purchasing an additional 638,716 shares during the last quarter. BlackRock Inc. raised its holdings in Boyd Gaming by 3.6% in the 4th quarter. BlackRock Inc. now owns 10,077,493 shares of the company’s stock valued at $209,410,000 after acquiring an additional 353,720 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Boyd Gaming by 25.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,261,785 shares of the company’s stock valued at $26,219,000 after acquiring an additional 252,056 shares during the last quarter. Rhumbline Advisers raised its holdings in Boyd Gaming by 53.2% in the 4th quarter. Rhumbline Advisers now owns 244,347 shares of the company’s stock valued at $5,078,000 after acquiring an additional 84,856 shares during the last quarter. Finally, Fiera Capital Corp raised its holdings in Boyd Gaming by 73.0% in the 4th quarter. Fiera Capital Corp now owns 151,871 shares of the company’s stock valued at $3,156,000 after acquiring an additional 64,062 shares during the last quarter. Hedge funds and other institutional investors own 72.08% of the company’s stock.

BYD stock opened at $29.80 on Friday. The firm has a market cap of $3.31 billion, a PE ratio of 22.41, a PEG ratio of 0.77 and a beta of 2.11. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.85 and a quick ratio of 0.81. Boyd Gaming Co. has a 52 week low of $18.98 and a 52 week high of $39.35.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, February 21st. The company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $791.60 million during the quarter, compared to the consensus estimate of $774.43 million. Boyd Gaming had a return on equity of 13.41% and a net margin of 4.38%. The business’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 EPS. On average, analysts forecast that Boyd Gaming Co. will post 1.81 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.81%. Boyd Gaming’s payout ratio is 18.05%.

In related news, CEO Keith Smith sold 100,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $29.41, for a total transaction of $2,941,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,339,355 shares of the company’s stock, valued at approximately $39,390,430.55. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP William R. Boyd sold 4,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $28.60, for a total transaction of $114,400.00. Following the sale, the vice president now directly owns 34,015 shares of the company’s stock, valued at $972,829. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 166,579 shares of company stock valued at $4,893,971. Insiders own 29.35% of the company’s stock.

Several research analysts have weighed in on the company. Zacks Investment Research downgraded Boyd Gaming from a “buy” rating to a “hold” rating in a report on Thursday, January 3rd. ValuEngine upgraded Boyd Gaming from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. Morgan Stanley set a $33.00 price target on Boyd Gaming and gave the company a “buy” rating in a report on Friday, February 22nd. Stifel Nicolaus upgraded Boyd Gaming from a “hold” rating to a “buy” rating and cut their price target for the company from $37.00 to $33.00 in a report on Friday, January 11th. Finally, TheStreet upgraded Boyd Gaming from a “c+” rating to a “b” rating in a report on Monday, March 25th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $34.75.

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Boyd Gaming Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

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Institutional Ownership by Quarter for Boyd Gaming (NYSE:BYD)

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