Hudson Bay Capital Management LP Boosts Holdings in Boyd Gaming Corporation $BYD

Hudson Bay Capital Management LP raised its position in Boyd Gaming Corporation (NYSE:BYD) by 35.0% in the 2nd quarter, Holdings Channel reports. The firm owned 124,536 shares of the company’s stock after buying an additional 32,254 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Boyd Gaming were worth $9,742,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Boyd Gaming by 219.8% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock worth $29,000 after buying an additional 255 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Boyd Gaming in the 2nd quarter worth about $39,000. Advisors Asset Management Inc. raised its holdings in shares of Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after acquiring an additional 196 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Boyd Gaming by 139.9% during the 2nd quarter. Geneos Wealth Management Inc. now owns 619 shares of the company’s stock valued at $48,000 after acquiring an additional 361 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Boyd Gaming by 24.5% during the 2nd quarter. Parallel Advisors LLC now owns 685 shares of the company’s stock valued at $54,000 after acquiring an additional 135 shares during the last quarter. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Trading Up 0.9%

Shares of BYD opened at $85.16 on Monday. Boyd Gaming Corporation has a fifty-two week low of $58.94 and a fifty-two week high of $88.49. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 3.72, a PEG ratio of 2.27 and a beta of 1.24. The firm has a 50 day moving average price of $81.35 and a 200-day moving average price of $81.76. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.49 and a current ratio of 0.51.

Boyd Gaming (NYSE:BYD) last released its earnings results on Tuesday, April 11th. The company reported $1.35 EPS for the quarter. The company had revenue of $707.32 million for the quarter. Boyd Gaming had a net margin of 46.02% and a return on equity of 34.63%. As a group, equities research analysts forecast that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be issued a $0.18 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. Boyd Gaming’s payout ratio is currently 3.15%.

Analyst Upgrades and Downgrades

BYD has been the topic of several research analyst reports. Morgan Stanley upped their price objective on shares of Boyd Gaming from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Macquarie reissued a “neutral” rating and issued a $90.00 price target on shares of Boyd Gaming in a report on Friday, October 24th. Raymond James Financial restated an “outperform” rating on shares of Boyd Gaming in a research report on Monday, September 8th. Zacks Research lowered shares of Boyd Gaming from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Finally, Mizuho increased their target price on Boyd Gaming from $89.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $89.54.

Insider Buying and Selling at Boyd Gaming

In related news, Director William R. Boyd sold 20,000 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the completion of the sale, the director directly owned 1,960,447 shares in the company, valued at $157,541,520.92. This represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 27.94% of the company’s stock.

Boyd Gaming Profile

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.