Capstone Investment Advisors LLC Purchases New Stake in Boyd Gaming Corporation $BYD

Capstone Investment Advisors LLC purchased a new stake in shares of Boyd Gaming Corporation (NYSE:BYD) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 8,563 shares of the company’s stock, valued at approximately $756,000.

A number of other large investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Boyd Gaming during the second quarter worth about $486,737,000. Arrowstreet Capital Limited Partnership increased its holdings in Boyd Gaming by 18.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,755,659 shares of the company’s stock valued at $149,652,000 after purchasing an additional 277,529 shares during the period. Invesco Ltd. increased its holdings in Boyd Gaming by 118.2% during the 4th quarter. Invesco Ltd. now owns 1,427,828 shares of the company’s stock valued at $121,708,000 after purchasing an additional 773,394 shares during the period. Franklin Resources Inc. lifted its holdings in Boyd Gaming by 11.1% in the 4th quarter. Franklin Resources Inc. now owns 1,357,412 shares of the company’s stock worth $115,706,000 after buying an additional 136,129 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Boyd Gaming by 26.7% in the 4th quarter. Geode Capital Management LLC now owns 1,355,209 shares of the company’s stock worth $115,537,000 after buying an additional 285,719 shares during the period. Institutional investors own 76.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Weiss Ratings lowered Boyd Gaming from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Wells Fargo & Company raised their price target on Boyd Gaming from $81.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. Benchmark assumed coverage on shares of Boyd Gaming in a report on Monday, June 22nd. They issued a “buy” rating and a $100.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Boyd Gaming from $90.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, Mizuho set a $104.00 price objective on shares of Boyd Gaming in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $94.69.

Boyd Gaming Stock Up 0.1%

BYD stock opened at $79.67 on Friday. Boyd Gaming Corporation has a fifty-two week low of $76.33 and a fifty-two week high of $91.41. The business’s 50 day moving average price is $85.65 and its two-hundred day moving average price is $84.49. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.74 and a current ratio of 0.77. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 3.51, a price-to-earnings-growth ratio of 1.97 and a beta of 1.08.

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

Boyd Gaming Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be issued a $0.20 dividend. The ex-dividend date 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 is 3.52%.

Insiders Place Their Bets

In other Boyd Gaming news, 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 transaction of $1,146,863.52. Following the completion of the transaction, the chief financial officer owned 422,969 shares of the company’s stock, valued at approximately $37,965,697.44. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Keith Smith sold 100,000 shares of the business’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 sale, the chief executive officer owned 996,981 shares in the company, valued at approximately $85,640,667.90. This trade represents a 9.12% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 112,789 shares of company stock valued at $9,737,848. 22.82% of the stock is owned by corporate insiders.

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.