Numeric Investors LLC Sells 107,000 Shares of Boyd Gaming Corporation (BYD)
Numeric Investors LLC lessened its holdings in shares of Boyd Gaming Corporation (NYSE:BYD) by 92.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,400 shares of the company’s stock after selling 107,000 shares during the quarter. Numeric Investors LLC’s holdings in Boyd Gaming Corporation were worth $208,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of BYD. First Trust Advisors LP raised its position in Boyd Gaming Corporation by 46.7% during the first quarter. First Trust Advisors LP now owns 32,149 shares of the company’s stock valued at $708,000 after acquiring an additional 10,235 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in Boyd Gaming Corporation by 27.3% during the first quarter. UBS Asset Management Americas Inc. now owns 51,072 shares of the company’s stock valued at $1,124,000 after acquiring an additional 10,942 shares in the last quarter. Karp Capital Management Corp bought a new position in Boyd Gaming Corporation during the first quarter valued at approximately $667,000. Ameritas Investment Partners Inc. bought a new position in Boyd Gaming Corporation during the first quarter valued at approximately $157,000. Finally, Victory Capital Management Inc. bought a new position in Boyd Gaming Corporation during the first quarter valued at approximately $175,000. 74.66% of the stock is currently owned by hedge funds and other institutional investors.
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BYD has been the topic of several recent research reports. Deutsche Bank AG reaffirmed a “buy” rating and set a $29.00 price objective (down previously from $30.00) on shares of Boyd Gaming Corporation in a research report on Sunday, July 30th. ValuEngine upgraded Boyd Gaming Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. BidaskClub upgraded Boyd Gaming Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded Boyd Gaming Corporation from a “sell” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Friday, July 14th. Finally, Morgan Stanley downgraded Boyd Gaming Corporation from an “overweight” rating to an “equal weight” rating and set a $26.00 price target on the stock. in a report on Tuesday, June 20th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $26.93.
In other Boyd Gaming Corporation news, VP William R. Boyd sold 7,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $26.71, for a total value of $186,970.00. Following the transaction, the vice president now directly owns 1,251 shares of the company’s stock, valued at approximately $33,414.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Robert Bailey acquired 10,000 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was purchased at an average cost of $25.33 per share, for a total transaction of $253,300.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 133,531 shares of company stock worth $3,447,521. Insiders own 29.16% of the company’s stock.
Boyd Gaming Corporation (NYSE BYD) opened at 27.95 on Wednesday. Boyd Gaming Corporation has a 12 month low of $16.77 and a 12 month high of $28.29. The company has a market capitalization of $3.15 billion, a PE ratio of 7.38 and a beta of 1.87. The company has a 50-day moving average price of $26.34 and a 200 day moving average price of $25.09.
Boyd Gaming Corporation (NYSE:BYD) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). Boyd Gaming Corporation had a net margin of 19.15% and a return on equity of 13.31%. The firm had revenue of $599.87 million during the quarter, compared to analyst estimates of $602.39 million. During the same period in the prior year, the company earned $0.16 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts forecast that Boyd Gaming Corporation will post $1.12 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Sunday, October 15th. Shareholders of record on Monday, September 18th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Friday, September 15th. Boyd Gaming Corporation’s dividend payout ratio is 5.25%.
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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