Brevan Howard Capital Management LP Increases Stock Holdings in Boyd Gaming Corporation $BYD

Brevan Howard Capital Management LP raised its position in Boyd Gaming Corporation (NYSE:BYD) by 47.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,034 shares of the company’s stock after acquiring an additional 13,287 shares during the quarter. Brevan Howard Capital Management LP owned approximately 0.05% of Boyd Gaming worth $3,547,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Asset Management One Co. Ltd. purchased a new stake in Boyd Gaming during the 3rd quarter worth approximately $1,531,000. Citigroup Inc. lifted its holdings in Boyd Gaming by 94.8% during the 3rd quarter. Citigroup Inc. now owns 229,823 shares of the company’s stock worth $19,868,000 after buying an additional 111,815 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Boyd Gaming by 78.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 127,303 shares of the company’s stock valued at $11,005,000 after buying an additional 55,923 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Boyd Gaming by 174.3% in the third quarter. Allianz Asset Management GmbH now owns 274,154 shares of the company’s stock worth $23,701,000 after acquiring an additional 174,214 shares in the last quarter. Finally, LSV Asset Management grew its stake in shares of Boyd Gaming by 115.8% in the second quarter. LSV Asset Management now owns 245,100 shares of the company’s stock worth $19,174,000 after acquiring an additional 131,500 shares in the last quarter. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Mizuho set a $100.00 price objective on Boyd Gaming in a research note on Monday, February 2nd. Citigroup started coverage on Boyd Gaming in a research note on Thursday, November 20th. They set a “neutral” rating and a $86.00 target price for the company. Wells Fargo & Company cut their price target on Boyd Gaming from $85.00 to $84.00 and set an “equal weight” rating on the stock in a report on Monday, February 9th. Morgan Stanley set a $86.00 price target on Boyd Gaming in a research report on Wednesday, February 11th. Finally, UBS Group set a $110.00 price objective on Boyd Gaming in a research note on Wednesday, December 24th. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $92.58.

Boyd Gaming Price Performance

Shares of BYD opened at $80.04 on Tuesday. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 3.52, a PEG ratio of 1.72 and a beta of 1.20. The firm’s fifty day simple moving average is $84.27 and its 200-day simple moving average is $83.60. Boyd Gaming Corporation has a twelve month low of $58.94 and a twelve month high of $89.96. The company has a current ratio of 0.54, a quick ratio of 0.52 and a debt-to-equity ratio of 0.78.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, February 5th. The company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.33. Boyd Gaming had a net margin of 45.05% and a return on equity of 30.14%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm posted $1.96 earnings per share. The company’s revenue was up 2.0% compared to the same quarter last year. Equities analysts forecast that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.18. Boyd Gaming’s payout ratio is currently 3.52%.

Insider Activity

In other news, Director William R. Boyd sold 30,000 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $84.84, for a total value of $2,545,200.00. Following the transaction, the director owned 1,930,447 shares in the company, valued at approximately $163,779,123.48. This represents a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Josh Hirsberg sold 23,924 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $85.86, for a total value of $2,054,114.64. Following the sale, the chief financial officer directly owned 435,746 shares in the company, valued at $37,413,151.56. This trade represents a 5.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 73,454 shares of company stock worth $6,231,827. 27.94% of the stock is currently owned by insiders.

Boyd Gaming Company Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.