Qsemble Capital Management LP Takes $341,000 Position in Boyd Gaming Co. (NYSE:BYD)

Qsemble Capital Management LP bought a new position in shares of Boyd Gaming Co. (NYSE:BYD) in the first quarter, Holdings Channel reports. The fund bought 5,068 shares of the company’s stock, valued at approximately $341,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Boyd Gaming by 2.1% during the third quarter. Vanguard Group Inc. now owns 7,980,306 shares of the company’s stock worth $485,442,000 after buying an additional 167,849 shares in the last quarter. Cohen & Steers Inc. boosted its holdings in Boyd Gaming by 34.4% during the fourth quarter. Cohen & Steers Inc. now owns 4,747,662 shares of the company’s stock worth $297,270,000 after buying an additional 1,216,121 shares in the last quarter. Boston Partners boosted its holdings in Boyd Gaming by 29.5% during the fourth quarter. Boston Partners now owns 2,756,215 shares of the company’s stock worth $172,638,000 after buying an additional 628,512 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in Boyd Gaming by 1.2% during the fourth quarter. Frontier Capital Management Co. LLC now owns 986,072 shares of the company’s stock worth $61,738,000 after buying an additional 11,794 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Boyd Gaming by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 857,644 shares of the company’s stock worth $53,697,000 after buying an additional 6,724 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BYD has been the subject of a number of research reports. Mizuho reduced their target price on shares of Boyd Gaming from $80.00 to $78.00 and set a “buy” rating for the company in a report on Friday, April 26th. Royal Bank of Canada lowered their price objective on shares of Boyd Gaming from $337.00 to $308.00 and set an “outperform” rating on the stock in a research report on Thursday, May 16th. Argus cut shares of Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. StockNews.com cut shares of Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Tuesday, June 4th. Finally, JPMorgan Chase & Co. cut shares of Boyd Gaming from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $80.00 to $67.00 in a research report on Friday, April 26th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Boyd Gaming has an average rating of “Hold” and an average target price of $90.92.

Insider Activity at Boyd Gaming

In related news, Director Christine J. Spadafor sold 1,874 shares of Boyd Gaming stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $53.38, for a total value of $100,034.12. Following the completion of the sale, the director now owns 2,338 shares of the company’s stock, valued at approximately $124,802.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 27.94% of the stock is owned by company insiders.

Boyd Gaming Stock Up 2.0 %

Shares of NYSE:BYD traded up $1.13 during trading on Tuesday, reaching $58.85. 988,646 shares of the company traded hands, compared to its average volume of 943,770. The firm has a fifty day simple moving average of $53.95 and a 200 day simple moving average of $59.96. The firm has a market cap of $5.58 billion, a P/E ratio of 10.47 and a beta of 1.59. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $73.00. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 1.61.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.06). Boyd Gaming had a net margin of 14.91% and a return on equity of 34.76%. The business had revenue of $960.52 million during the quarter, compared to analyst estimates of $947.26 million. Analysts anticipate that Boyd Gaming Co. will post 6.06 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Saturday, June 15th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, June 14th. Boyd Gaming’s payout ratio is presently 12.21%.

Boyd Gaming declared that its Board of Directors has approved a stock repurchase program on Monday, May 13th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 9.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.