8,591 Shares in Boyd Gaming Corporation $BYD Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. purchased a new stake in Boyd Gaming Corporation (NYSE:BYD) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,591 shares of the company’s stock, valued at approximately $759,000.

Other large investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in shares of Boyd Gaming by 8.8% in the first quarter. Bank of America Corp DE now owns 569,427 shares of the company’s stock valued at $46,796,000 after acquiring an additional 46,146 shares during the last quarter. Seven Six Capital Management LLC grew its position in Boyd Gaming by 5.6% during the 1st quarter. Seven Six Capital Management LLC now owns 125,875 shares of the company’s stock worth $10,344,000 after acquiring an additional 6,700 shares during the last quarter. Janus Henderson Group PLC grew its position in Boyd Gaming by 0.3% during the 1st quarter. Janus Henderson Group PLC now owns 122,988 shares of the company’s stock worth $10,108,000 after acquiring an additional 370 shares during the last quarter. Altshuler Shaham Ltd increased its holdings in Boyd Gaming by 54.3% during the 1st quarter. Altshuler Shaham Ltd now owns 452 shares of the company’s stock valued at $37,000 after purchasing an additional 159 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in Boyd Gaming by 10.7% during the 1st quarter. California State Teachers Retirement System now owns 64,752 shares of the company’s stock valued at $5,321,000 after purchasing an additional 6,245 shares in the last quarter. 76.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Boyd Gaming news, CEO Keith Smith sold 100,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $85.90, for a total transaction of $8,590,000.00. Following the completion of the sale, the chief executive officer owned 996,981 shares in the company, valued at approximately $85,640,667.90. The trade was a 9.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Josh Hirsberg sold 12,777 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total value of $1,146,863.52. Following the completion of the transaction, the chief financial officer owned 422,969 shares in the company, valued at $37,965,697.44. This represents a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 22.82% of the stock is currently owned by insiders.

Analyst Ratings Changes

BYD has been the topic of several research analyst reports. The Goldman Sachs Group assumed coverage on Boyd Gaming in a report on Friday, June 26th. They set a “neutral” rating and a $91.00 target price on the stock. Mizuho set a $104.00 price target on Boyd Gaming in a report on Friday, July 24th. Stifel Nicolaus upped their price target on shares of Boyd Gaming from $91.00 to $92.00 and gave the stock a “hold” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Boyd Gaming from $90.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Finally, Barclays raised their price objective on shares of Boyd Gaming from $86.00 to $87.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $94.69.

Boyd Gaming Stock Performance

Shares of NYSE:BYD opened at $82.67 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 1.05. Boyd Gaming Corporation has a 1-year low of $76.33 and a 1-year high of $91.41. The stock has a market capitalization of $6.01 billion, a P/E ratio of 3.64, a P/E/G ratio of 2.06 and a beta of 1.08. The business has a 50-day moving average price of $86.59 and a two-hundred day moving average price of $84.68.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, July 23rd. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.04. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.52%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm earned $1.87 EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. Equities analysts predict that Boyd Gaming Corporation will post 7.29 earnings per share for the current year.

Boyd Gaming announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 23rd that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Boyd Gaming Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Boyd Gaming’s dividend payout ratio (DPR) is presently 3.52%.

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.