Teachers Advisors LLC trimmed its position in shares of Boyd Gaming Corporation (NYSE:BYD) by 32.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 172,173 shares of the company’s stock after selling 82,353 shares during the quarter. Teachers Advisors LLC owned approximately 0.15% of Boyd Gaming Corporation worth $4,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Seven Eight Capital LP acquired a new stake in shares of Boyd Gaming Corporation during the 2nd quarter valued at about $154,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Boyd Gaming Corporation during the 1st quarter valued at about $157,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Boyd Gaming Corporation during the 1st quarter valued at about $161,000. Victory Capital Management Inc. acquired a new stake in shares of Boyd Gaming Corporation during the 1st quarter valued at about $175,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Boyd Gaming Corporation during the 2nd quarter valued at about $340,000. Institutional investors and hedge funds own 74.66% of the company’s stock.
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Boyd Gaming Corporation (NYSE BYD) opened at 27.80 on Friday. Boyd Gaming Corporation has a 12 month low of $16.77 and a 12 month high of $27.98. The company has a market capitalization of $3.14 billion, a P/E ratio of 7.34 and a beta of 1.87. The firm has a 50-day moving average price of $26.30 and a 200 day moving average price of $24.99.
Boyd Gaming Corporation (NYSE:BYD) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.04). Boyd Gaming Corporation had a net margin of 19.15% and a return on equity of 13.31%. The business had revenue of $599.87 million during the quarter, compared to analyst estimates of $602.39 million. During the same period in the previous year, the business earned $0.16 earnings per share. The business’s quarterly revenue was up 10.1% on a year-over-year basis. Analysts expect that Boyd Gaming Corporation will post $1.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, September 18th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.72%. Boyd Gaming Corporation’s payout ratio is 5.25%.
In other news, VP William R. Boyd sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $26.55, for a total value of $265,500.00. Following the completion of the sale, the vice president now directly owns 8,251 shares of the company’s stock, valued at $219,064.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William S. Boyd sold 76,531 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $25.18, for a total value of $1,927,050.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,531 shares of company stock valued at $3,447,521. Insiders own 29.16% of the company’s stock.
Several equities research analysts have recently issued reports on the company. BidaskClub upgraded Boyd Gaming Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded Boyd Gaming Corporation from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Wednesday, October 4th. ValuEngine upgraded Boyd Gaming Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Barclays PLC lifted their price target on Boyd Gaming Corporation from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Tuesday, August 1st. Finally, Instinet reiterated a “buy” rating and set a $30.00 price target (up from $27.00) on shares of Boyd Gaming Corporation in a report on Monday, June 19th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $27.00.
Boyd Gaming Corporation Company Profile
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
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