ProShare Advisors LLC Makes New $225,000 Investment in Boyd Gaming Co. (NYSE:BYD)

ProShare Advisors LLC purchased a new position in shares of Boyd Gaming Co. (NYSE:BYD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,101 shares of the company’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC lifted its stake in Boyd Gaming by 91.0% during the fourth quarter. CoreCap Advisors LLC now owns 573 shares of the company’s stock worth $42,000 after purchasing an additional 273 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Boyd Gaming during the fourth quarter worth approximately $67,000. Investment Counsel Co. of Nevada acquired a new stake in shares of Boyd Gaming during the fourth quarter worth approximately $73,000. Allworth Financial LP increased its holdings in shares of Boyd Gaming by 2,735.1% during the fourth quarter. Allworth Financial LP now owns 1,049 shares of the company’s stock worth $79,000 after buying an additional 1,012 shares in the last quarter. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of Boyd Gaming during the fourth quarter worth approximately $109,000. Institutional investors own 76.81% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BYD. JMP Securities reaffirmed a “market perform” rating on shares of Boyd Gaming in a report on Friday, February 7th. Wall Street Zen lowered shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 27th. Susquehanna raised their price objective on shares of Boyd Gaming from $75.00 to $76.00 and gave the stock a “positive” rating in a report on Friday, April 25th. Macquarie reaffirmed a “neutral” rating and set a $74.00 price objective on shares of Boyd Gaming in a report on Friday, April 25th. Finally, Barclays lowered their price target on shares of Boyd Gaming from $78.00 to $73.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Boyd Gaming has an average rating of “Moderate Buy” and an average price target of $79.67.

Insiders Place Their Bets

In other news, Director Christine J. Spadafor sold 1,125 shares of Boyd Gaming stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $75.28, for a total transaction of $84,690.00. Following the transaction, the director now directly owns 4,852 shares of the company’s stock, valued at $365,258.56. This trade represents a 18.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 21.97% of the company’s stock.

Boyd Gaming Price Performance

BYD opened at $75.07 on Friday. The company has a fifty day moving average price of $68.99 and a two-hundred day moving average price of $71.96. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. Boyd Gaming Co. has a 52 week low of $51.62 and a 52 week high of $80.50. The firm has a market capitalization of $6.11 billion, a PE ratio of 12.07, a P/E/G ratio of 4.46 and a beta of 1.32.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, April 24th. The company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.10. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. The firm had revenue of $991.57 million during the quarter, compared to analyst estimates of $976.38 million. During the same quarter in the previous year, the business earned $1.51 EPS. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, analysts anticipate that Boyd Gaming Co. will post 6.52 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Monday, June 16th. Boyd Gaming’s dividend payout ratio is presently 11.75%.

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. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.