Principal Financial Group Inc. raised its holdings in shares of Boyd Gaming Corporation (NYSE:BYD) by 9.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 699,168 shares of the company’s stock after buying an additional 60,118 shares during the quarter. Principal Financial Group Inc. owned about 0.62% of Boyd Gaming Corporation worth $17,347,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of BYD. Ameritas Investment Partners Inc. acquired a new position in shares of Boyd Gaming Corporation during the first quarter worth approximately $157,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Boyd Gaming Corporation during the first quarter valued at approximately $161,000. Victory Capital Management Inc. bought a new stake in shares of Boyd Gaming Corporation during the first quarter valued at approximately $175,000. Russell Investments Group Ltd. bought a new stake in shares of Boyd Gaming Corporation during the second quarter valued at approximately $340,000. Finally, State of Alaska Department of Revenue increased its position in shares of Boyd Gaming Corporation by 79.1% during the second quarter. State of Alaska Department of Revenue now owns 16,317 shares of the company’s stock valued at $404,000 after purchasing an additional 7,207 shares during the period. Institutional investors own 74.66% of the company’s stock.
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In related news, Director John Robert Bailey acquired 10,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was purchased at an average cost of $25.33 per share, with a total value of $253,300.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert L. Boughner sold 40,000 shares of Boyd Gaming Corporation stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $26.70, for a total value of $1,068,000.00. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $1,068,000. The disclosure for this sale can be found here. Insiders sold a total of 133,531 shares of company stock valued at $3,447,521 over the last ninety days. Insiders own 29.16% of the company’s stock.
Shares of Boyd Gaming Corporation (NYSE BYD) opened at 26.09 on Friday. Boyd Gaming Corporation has a 12 month low of $16.77 and a 12 month high of $27.00. The firm has a 50-day moving average price of $26.17 and a 200-day moving average price of $24.16. The company has a market capitalization of $2.94 billion, a PE ratio of 6.89 and a beta of 1.92.
Boyd Gaming Corporation (NYSE:BYD) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.04). The company had revenue of $599.87 million during the quarter, compared to analyst estimates of $602.39 million. Boyd Gaming Corporation had a net margin of 19.15% and a return on equity of 13.31%. Boyd Gaming Corporation’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 earnings per share. On average, equities research analysts predict that Boyd Gaming Corporation will post $1.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, September 18th will be issued a $0.05 dividend. The ex-dividend date is Friday, September 15th. This represents a $0.20 annualized dividend and a yield of 0.77%. Boyd Gaming Corporation’s dividend payout ratio is presently 5.25%.
A number of research firms have recently issued reports on BYD. ValuEngine upgraded Boyd Gaming Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. BidaskClub upgraded Boyd Gaming Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Barclays PLC boosted their price objective on Boyd Gaming Corporation from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 1st. Zacks Investment Research cut Boyd Gaming Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Deutsche Bank AG restated a “buy” rating and set a $29.00 price objective (down from $30.00) on shares of Boyd Gaming Corporation in a research report on Sunday, July 30th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $26.87.
Boyd Gaming Corporation 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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