Boyd Gaming Target of Unusually Large Options Trading (BYD)

Boyd Gaming Co. (NYSE:BYD) was the recipient of some unusual options trading activity on Tuesday. Investors bought 4,289 put options on the stock. This represents an increase of 832% compared to the typical daily volume of 460 put options.

Several brokerages have recently commented on BYD. Stifel Nicolaus restated a “hold” rating on shares of Boyd Gaming in a research report on Thursday. Zacks Investment Research downgraded shares of Boyd Gaming from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Deutsche Bank lifted their price target on shares of Boyd Gaming to $37.00 and gave the company a “buy” rating in a report on Wednesday, December 6th. Nomura lifted their price target on shares of Boyd Gaming to $42.00 and gave the company a “buy” rating in a report on Tuesday. Finally, ValuEngine upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $29.13.

Shares of Boyd Gaming (NYSE:BYD) opened at $35.81 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.73 and a debt-to-equity ratio of 2.95. The stock has a market cap of $3,946.68, a price-to-earnings ratio of 29.74 and a beta of 1.81. Boyd Gaming has a fifty-two week low of $19.19 and a fifty-two week high of $35.82.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, October 26th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Boyd Gaming had a return on equity of 13.82% and a net margin of 5.08%. The business had revenue of $587.70 million during the quarter, compared to the consensus estimate of $592.29 million. During the same quarter last year, the firm earned $0.14 earnings per share. The business’s quarterly revenue was up 10.5% on a year-over-year basis. equities research analysts predict that Boyd Gaming will post 1.05 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Thursday, December 28th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. Boyd Gaming’s dividend payout ratio (DPR) is presently 19.23%.

Several institutional investors have recently bought and sold shares of BYD. FMR LLC increased its holdings in shares of Boyd Gaming by 531.0% in the 2nd quarter. FMR LLC now owns 1,418,700 shares of the company’s stock worth $35,199,000 after buying an additional 1,193,874 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Boyd Gaming by 34.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 4,566,570 shares of the company’s stock worth $118,959,000 after buying an additional 1,181,986 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Boyd Gaming in the 2nd quarter worth about $26,973,000. Bamco Inc. NY increased its holdings in shares of Boyd Gaming by 94.8% in the 2nd quarter. Bamco Inc. NY now owns 1,384,937 shares of the company’s stock worth $34,360,000 after buying an additional 674,100 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Boyd Gaming in the 3rd quarter worth about $11,723,000. Hedge funds and other institutional investors own 76.22% of the company’s stock.

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Boyd Gaming 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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