Lisanti Capital Growth LLC Has $823,000 Stake in Boyd Gaming Co. (BYD)
Lisanti Capital Growth LLC cut its holdings in shares of Boyd Gaming Co. (NYSE:BYD) by 62.6% during the third quarter, HoldingsChannel.com reports. The fund owned 24,300 shares of the company’s stock after selling 40,663 shares during the period. Lisanti Capital Growth LLC’s holdings in Boyd Gaming were worth $823,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of BYD. Janney Montgomery Scott LLC acquired a new position in shares of Boyd Gaming in the third quarter worth $789,000. HL Financial Services LLC grew its stake in shares of Boyd Gaming by 9.0% in the third quarter. HL Financial Services LLC now owns 172,685 shares of the company’s stock worth $5,845,000 after acquiring an additional 14,316 shares in the last quarter. Pitcairn Co. acquired a new position in shares of Boyd Gaming in the third quarter worth $287,000. Chicago Equity Partners LLC acquired a new position in shares of Boyd Gaming in the third quarter worth $3,581,000. Finally, Engineers Gate Manager LP grew its stake in shares of Boyd Gaming by 66.4% in the third quarter. Engineers Gate Manager LP now owns 127,190 shares of the company’s stock worth $4,305,000 after acquiring an additional 50,773 shares in the last quarter. Hedge funds and other institutional investors own 71.66% of the company’s stock.
Several equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Boyd Gaming from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. Bank of America restated a “buy” rating and issued a $37.00 price target on shares of Boyd Gaming in a research note on Tuesday, October 16th. Telsey Advisory Group dropped their price target on shares of Boyd Gaming from $35.00 to $31.00 and set a “market perform” rating for the company in a research note on Friday, October 26th. JPMorgan Chase & Co. boosted their price target on shares of Boyd Gaming from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. Finally, Morgan Stanley set a $35.00 price target on shares of Boyd Gaming and gave the stock a “hold” rating in a research note on Friday, October 26th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $39.50.
Boyd Gaming stock opened at $24.95 on Friday. The firm has a market cap of $3.07 billion, a PE ratio of 24.22, a PEG ratio of 1.36 and a beta of 1.98. Boyd Gaming Co. has a 12-month low of $23.85 and a 12-month high of $40.44. The company has a debt-to-equity ratio of 3.05, a current ratio of 2.03 and a quick ratio of 1.99.
Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, October 25th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. The business had revenue of $612.20 million during the quarter, compared to analysts’ expectations of $607.60 million. Boyd Gaming had a net margin of 7.19% and a return on equity of 12.59%. As a group, sell-side analysts forecast that Boyd Gaming Co. will post 1.34 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were given a dividend of $0.06 per share. The ex-dividend date was Thursday, September 27th. This represents a $0.24 annualized dividend and a dividend yield of 0.96%. Boyd Gaming’s dividend payout ratio (DPR) is currently 23.30%.
Boyd Gaming Profile
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South. As of October 15, 2018, the company operated 29 gaming entertainment properties offering a total of 1.76 million square feet of casino space, approximately 38,000 gaming machines, 900 table games, 11,000 hotel rooms, and 320 food and beverage outlets located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.
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