Capstone Investment Advisors LLC Invests $756,000 in Boyd Gaming Corporation $BYD

Capstone Investment Advisors LLC purchased a new position in Boyd Gaming Corporation (NYSE:BYD) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 8,563 shares of the company’s stock, valued at approximately $756,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC purchased a new position in Boyd Gaming during the fourth quarter valued at $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Boyd Gaming in the fourth quarter worth $25,000. Advisors Asset Management Inc. increased its holdings in shares of Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after acquiring an additional 196 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Boyd Gaming by 62.8% during the first quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock valued at $43,000 after acquiring an additional 203 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Boyd Gaming by 139.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 619 shares of the company’s stock worth $48,000 after purchasing an additional 361 shares during the last quarter. Institutional investors own 76.81% of the company’s stock.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, CEO Keith Smith sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $85.90, for a total value of $8,590,000.00. Following the transaction, the chief executive officer directly owned 996,981 shares of the company’s stock, valued at approximately $85,640,667.90. This trade represents a 9.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Josh Hirsberg sold 12,777 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $89.76, for a total value of $1,146,863.52. Following the sale, the chief financial officer owned 422,969 shares of the company’s stock, valued at approximately $37,965,697.44. This represents a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 112,789 shares of company stock worth $9,737,848. 22.82% of the stock is owned by corporate insiders.

Boyd Gaming Stock Up 0.1%

BYD opened at $79.67 on Friday. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of 3.51, a PEG ratio of 1.97 and a beta of 1.08. The firm has a 50 day moving average price of $85.65 and a 200-day moving average price of $84.49. Boyd Gaming Corporation has a twelve month low of $76.33 and a twelve month high of $91.41. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 1.05.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, July 23rd. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.52%. The firm’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.87 EPS. Equities research analysts forecast that Boyd Gaming Corporation will post 7.29 earnings per share for the current year.

Boyd Gaming Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, September 15th. Boyd Gaming’s dividend payout ratio is 3.52%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BYD shares. Barclays upped their price target on shares of Boyd Gaming from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. lifted their target price on shares of Boyd Gaming from $90.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Wells Fargo & Company upped their target price on shares of Boyd Gaming from $81.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. Susquehanna increased their price target on shares of Boyd Gaming from $84.00 to $87.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Weiss Ratings downgraded shares of Boyd Gaming from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $94.69.

About Boyd Gaming

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.