Geode Capital Management LLC Increases Stake in Boyd Gaming Co. (NYSE:BYD)
Geode Capital Management LLC grew its holdings in Boyd Gaming Co. (NYSE:BYD) by 8.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 870,604 shares of the company’s stock after acquiring an additional 66,395 shares during the quarter. Geode Capital Management LLC’s holdings in Boyd Gaming were worth $18,090,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in BYD. LPL Financial LLC raised its holdings in Boyd Gaming by 3.1% during the fourth quarter. LPL Financial LLC now owns 13,926 shares of the company’s stock worth $289,000 after purchasing an additional 422 shares in the last quarter. Arizona State Retirement System raised its holdings in Boyd Gaming by 1.0% during the fourth quarter. Arizona State Retirement System now owns 57,985 shares of the company’s stock worth $1,205,000 after purchasing an additional 587 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Boyd Gaming by 3.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 20,532 shares of the company’s stock worth $427,000 after purchasing an additional 722 shares in the last quarter. Cipher Capital LP raised its holdings in Boyd Gaming by 3.8% during the fourth quarter. Cipher Capital LP now owns 31,977 shares of the company’s stock worth $664,000 after purchasing an additional 1,174 shares in the last quarter. Finally, Texas Permanent School Fund raised its holdings in Boyd Gaming by 3.9% during the fourth quarter. Texas Permanent School Fund now owns 52,867 shares of the company’s stock worth $1,099,000 after purchasing an additional 2,004 shares in the last quarter. 66.26% of the stock is owned by institutional investors and hedge funds.
Shares of BYD opened at $26.03 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.68 and a debt-to-equity ratio of 4.08. Boyd Gaming Co. has a twelve month low of $18.98 and a twelve month high of $39.35. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 19.66, a P/E/G ratio of 0.75 and a beta of 2.16.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be given a dividend of $0.07 per share. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Friday, June 14th. Boyd Gaming’s dividend payout ratio is presently 18.05%.
In other Boyd Gaming news, VP William R. Boyd sold 4,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $28.60, for a total transaction of $114,400.00. Following the transaction, the vice president now directly owns 34,015 shares in the company, valued at $972,829. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 29.35% of the company’s stock.
BYD has been the subject of several analyst reports. Morgan Stanley set a $33.00 price target on shares of Boyd Gaming and gave the stock a “buy” rating in a report on Friday, February 22nd. TheStreet raised shares of Boyd Gaming from a “c+” rating to a “b” rating in a report on Monday, March 25th. Finally, ValuEngine cut shares of Boyd Gaming from a “hold” rating to a “sell” rating in a report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $34.88.
Boyd Gaming Profile
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.
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