Jupiter Topco LLC Purchases Shares of 44,063 Boyd Gaming Corporation $BYD

Jupiter Topco LLC purchased a new position in Boyd Gaming Corporation (NYSE:BYD) in the second quarter, HoldingsChannel reports. The institutional investor purchased 44,063 shares of the company’s stock, valued at approximately $3,892,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. purchased a new position in Boyd Gaming in the 2nd quarter worth $486,737,000. Arrowstreet Capital Limited Partnership grew its stake in Boyd Gaming by 18.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,755,659 shares of the company’s stock valued at $149,652,000 after purchasing an additional 277,529 shares during the last quarter. Invesco Ltd. grew its stake in Boyd Gaming by 118.2% during the 4th quarter. Invesco Ltd. now owns 1,427,828 shares of the company’s stock valued at $121,708,000 after purchasing an additional 773,394 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Boyd Gaming by 11.1% in the fourth quarter. Franklin Resources Inc. now owns 1,357,412 shares of the company’s stock valued at $115,706,000 after purchasing an additional 136,129 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Boyd Gaming by 26.7% in the fourth quarter. Geode Capital Management LLC now owns 1,355,209 shares of the company’s stock valued at $115,537,000 after purchasing an additional 285,719 shares during the period. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Josh Hirsberg sold 12,777 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $89.76, for a total transaction of $1,146,863.52. Following the sale, the chief financial officer owned 422,969 shares of the company’s stock, valued at $37,965,697.44. This trade represents a 2.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 22.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BYD shares. Benchmark started coverage on Boyd Gaming in a report on Monday, June 22nd. They set a “buy” rating and a $100.00 target price for the company. Weiss Ratings downgraded shares of Boyd Gaming from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Susquehanna raised their price target on shares of Boyd Gaming from $84.00 to $87.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. The Goldman Sachs Group assumed coverage on shares of Boyd Gaming in a research note on Friday, June 26th. They set a “neutral” rating and a $91.00 price objective for the company. Finally, Morgan Stanley dropped their price objective on shares of Boyd Gaming from $90.00 to $89.00 and set an “equal weight” rating on the stock in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $94.69.

Boyd Gaming Stock Performance

Shares of BYD stock opened at $76.30 on Wednesday. The stock has a market cap of $5.54 billion, a PE ratio of 3.36, a price-to-earnings-growth ratio of 1.38 and a beta of 1.06. The business has a 50-day simple moving average of $85.28 and a 200-day simple moving average of $84.40. 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 Corporation has a 52-week low of $76.24 and a 52-week high of $91.41.

Boyd Gaming (NYSE:BYD) last issued 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 firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Boyd Gaming had a return on equity of 22.52% and a net margin of 44.34%.The company’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.87 earnings per share. On average, equities analysts expect that Boyd Gaming Corporation will post 7.29 EPS for the current year.

Boyd Gaming Dividend Announcement

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

Boyd Gaming Company Profile

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.