Boyd Gaming Corporation $BYD Shares Acquired by LSV Asset Management

LSV Asset Management lifted its stake in shares of Boyd Gaming Corporation (NYSE:BYD) by 55.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 351,870 shares of the company’s stock after purchasing an additional 125,130 shares during the quarter. LSV Asset Management’s holdings in Boyd Gaming were worth $29,993,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mach 1 Financial Group LLC acquired a new stake in shares of Boyd Gaming during the 4th quarter worth approximately $409,000. PNC Financial Services Group Inc. raised its position in shares of Boyd Gaming by 24.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,064 shares of the company’s stock worth $176,000 after purchasing an additional 400 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Boyd Gaming during the 4th quarter worth approximately $222,000. TD Private Client Wealth LLC raised its position in shares of Boyd Gaming by 24.5% during the 4th quarter. TD Private Client Wealth LLC now owns 854 shares of the company’s stock worth $73,000 after purchasing an additional 168 shares during the period. Finally, Convergence Investment Partners LLC acquired a new stake in shares of Boyd Gaming during the 4th quarter worth approximately $1,256,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. Mizuho lowered their target price on Boyd Gaming from $99.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday, April 24th. Citigroup raised their target price on Boyd Gaming from $86.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Barclays lowered their target price on Boyd Gaming from $87.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Friday, April 24th. Morgan Stanley restated a “mixed” rating on shares of Boyd Gaming in a research report on Wednesday, April 8th. Finally, Weiss Ratings cut Boyd Gaming from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $92.08.

Boyd Gaming Stock Performance

Shares of NYSE BYD opened at $79.39 on Monday. The stock has a fifty day moving average price of $83.61 and a two-hundred day moving average price of $83.66. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.60. The firm has a market cap of $5.90 billion, a P/E ratio of 3.48, a PEG ratio of 1.85 and a beta of 1.11. Boyd Gaming Corporation has a 1 year low of $72.01 and a 1 year high of $89.96.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.16). The firm had revenue of $997.36 million for the quarter, compared to the consensus estimate of $1.04 billion. Boyd Gaming had a net margin of 44.84% and a return on equity of 25.63%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.62 earnings per share. Research analysts forecast that Boyd Gaming Corporation will post 7.32 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. Boyd Gaming’s dividend payout ratio (DPR) is currently 3.51%.

Boyd Gaming announced that its board has authorized a stock repurchase program on Thursday, April 23rd that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 7.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Boyd Gaming

In other news, insider Stephen S. Thompson sold 19,530 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $83.59, for a total transaction of $1,632,512.70. Following the completion of the sale, the insider directly owned 22,009 shares of the company’s stock, valued at $1,839,732.31. This trade represents a 47.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Josh Hirsberg sold 23,924 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $85.86, for a total value of $2,054,114.64. Following the sale, the chief financial officer directly owned 435,746 shares of the company’s stock, valued at approximately $37,413,151.56. This represents a 5.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 143,454 shares of company stock valued at $12,135,614 in the last three months. 22.82% of the stock is currently owned by corporate insiders.

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.