25,143 Shares in Boyd Gaming Co. (NYSE:BYD) Purchased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP bought a new position in shares of Boyd Gaming Co. (NYSE:BYD) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 25,143 shares of the company’s stock, valued at approximately $1,612,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Commonwealth Equity Services LLC grew its holdings in Boyd Gaming by 3.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 4,477 shares of the company’s stock worth $244,000 after acquiring an additional 158 shares during the period. LPL Financial LLC grew its holdings in Boyd Gaming by 0.5% during the fourth quarter. LPL Financial LLC now owns 37,610 shares of the company’s stock worth $2,051,000 after acquiring an additional 201 shares during the period. Prospera Financial Services Inc grew its holdings in Boyd Gaming by 4.5% in the fourth quarter. Prospera Financial Services Inc now owns 5,147 shares of the company’s stock valued at $281,000 after purchasing an additional 220 shares during the period. Treasurer of the State of North Carolina increased its position in shares of Boyd Gaming by 0.7% in the first quarter. Treasurer of the State of North Carolina now owns 33,382 shares of the company’s stock valued at $2,140,000 after buying an additional 240 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Boyd Gaming by 1.2% in the fourth quarter. Arizona State Retirement System now owns 22,612 shares of the company’s stock valued at $1,233,000 after buying an additional 278 shares in the last quarter. 67.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP William R. Boyd sold 10,000 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $67.83, for a total value of $678,300.00. Following the transaction, the vice president now owns 1,684,610 shares of the company’s stock, valued at approximately $114,267,096.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP William R. Boyd sold 10,000 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $67.83, for a total value of $678,300.00. Following the transaction, the vice president now owns 1,684,610 shares of the company’s stock, valued at approximately $114,267,096.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider William S. Boyd sold 100,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $67.42, for a total value of $6,742,000.00. Following the completion of the transaction, the insider now directly owns 9,866,224 shares in the company, valued at approximately $665,180,822.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 169,681 shares of company stock valued at $11,379,921. Insiders own 27.94% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on BYD. Morgan Stanley upgraded Boyd Gaming from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $69.00 to $75.00 in a research report on Thursday, July 13th. Argus boosted their price objective on Boyd Gaming from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, July 31st. StockNews.com began coverage on Boyd Gaming in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company boosted their price objective on Boyd Gaming from $82.00 to $83.00 in a research report on Thursday, July 13th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Boyd Gaming presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

Boyd Gaming Stock Performance

NYSE BYD opened at $67.63 on Friday. The stock’s fifty day moving average is $68.20 and its two-hundred day moving average is $66.51. The firm has a market capitalization of $6.76 billion, a P/E ratio of 9.79, a price-to-earnings-growth ratio of 1.48 and a beta of 1.76. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.80 and a current ratio of 0.84. Boyd Gaming Co. has a fifty-two week low of $46.10 and a fifty-two week high of $73.00.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, July 27th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.02. The company had revenue of $916.95 million for the quarter, compared to analyst estimates of $910.59 million. Boyd Gaming had a return on equity of 41.56% and a net margin of 19.61%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.48 earnings per share. On average, research analysts anticipate that Boyd Gaming Co. will post 6.32 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Thursday, September 14th. Boyd Gaming’s dividend payout ratio (DPR) is currently 9.26%.

About Boyd Gaming

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South.