Catalyst Capital Advisors LLC Purchases New Position in Boyd Gaming Corporation (BYD)
Catalyst Capital Advisors LLC purchased a new position in shares of Boyd Gaming Corporation (NYSE:BYD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 450,000 shares of the company’s stock, valued at approximately $11,723,000. Catalyst Capital Advisors LLC owned about 0.40% of Boyd Gaming Corporation as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the stock. Fortaleza Asset Management Inc. lifted its position in Boyd Gaming Corporation by 80.7% during the 3rd quarter. Fortaleza Asset Management Inc. now owns 5,630 shares of the company’s stock worth $147,000 after acquiring an additional 2,515 shares during the period. Seven Eight Capital LP acquired a new stake in Boyd Gaming Corporation during the 2nd quarter worth approximately $154,000. Zacks Investment Management acquired a new stake in Boyd Gaming Corporation during the 2nd quarter worth approximately $202,000. Shelton Capital Management acquired a new stake in Boyd Gaming Corporation during the 2nd quarter worth approximately $203,000. Finally, Regentatlantic Capital LLC acquired a new stake in Boyd Gaming Corporation during the 3rd quarter worth approximately $216,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.
In related news, Director Robert L. Boughner sold 40,000 shares of Boyd Gaming Corporation stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $26.70, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP William R. Boyd sold 7,000 shares of the firm’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 disclosure for this sale can be found here. Insiders own 29.16% of the company’s stock.
Shares of Boyd Gaming Corporation (NYSE:BYD) traded up $0.29 during mid-day trading on Monday, reaching $29.99. The company had a trading volume of 1,439,500 shares, compared to its average volume of 1,286,545. The firm has a market capitalization of $3,380.00, a PE ratio of 25.42 and a beta of 1.82. Boyd Gaming Corporation has a 52-week low of $18.45 and a 52-week high of $30.15. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.68 and a current ratio of 0.73.
Boyd Gaming Corporation (NYSE:BYD) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $587.70 million for the quarter, compared to analyst estimates of $592.29 million. Boyd Gaming Corporation had a return on equity of 13.82% and a net margin of 5.08%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.14 earnings per share. sell-side analysts anticipate that Boyd Gaming Corporation will post 1.05 EPS for the current year.
The company also recently disclosed a monthly dividend, which was paid on Friday, October 27th. Investors of record on Saturday, September 30th were issued a dividend of $0.043 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.52 annualized dividend and a yield of 1.72%. Boyd Gaming Corporation’s dividend payout ratio is presently 24.10%.
BYD has been the subject of a number of recent research reports. Telsey Advisory Group increased their price objective on Boyd Gaming Corporation from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Morgan Stanley set a $28.00 price objective on Boyd Gaming Corporation and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Deutsche Bank AG reaffirmed 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. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $27.00 price objective on shares of Boyd Gaming Corporation in a research report on Tuesday, October 24th. Finally, Zacks Investment Research cut Boyd Gaming Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Boyd Gaming Corporation has an average rating of “Buy” and an average target price of $27.47.
About Boyd Gaming Corporation
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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