Arrowstreet Capital Limited Partnership Acquires 441,963 Shares of Boyd Gaming Co. (NYSE:BYD)

Arrowstreet Capital Limited Partnership boosted its holdings in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 51.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,296,863 shares of the company's stock after purchasing an additional 441,963 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.47% of Boyd Gaming worth $94,074,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its position in shares of Boyd Gaming by 80.3% during the 4th quarter. UMB Bank n.a. now owns 393 shares of the company's stock worth $29,000 after buying an additional 175 shares during the period. GAMMA Investing LLC raised its stake in Boyd Gaming by 47.4% during the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company's stock worth $33,000 after acquiring an additional 148 shares in the last quarter. Quarry LP lifted its holdings in shares of Boyd Gaming by 150.1% during the third quarter. Quarry LP now owns 873 shares of the company's stock valued at $56,000 after acquiring an additional 524 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Boyd Gaming in the 3rd quarter valued at $64,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Boyd Gaming in the 4th quarter valued at $67,000. Institutional investors own 76.81% of the company's stock.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Director William R. Boyd sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total value of $1,189,800.00. Following the sale, the director now owns 1,472,970 shares in the company, valued at $116,835,980.40. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christine J. Spadafor sold 1,125 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $75.28, for a total value of $84,690.00. Following the sale, the director now directly owns 4,852 shares of the company's stock, valued at $365,258.56. This represents a 18.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,125 shares of company stock valued at $5,158,490. 21.97% of the stock is owned by insiders.

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Boyd Gaming Stock Down 2.4 %

Shares of BYD stock traded down $1.55 during trading hours on Friday, hitting $61.81. 1,415,144 shares of the company were exchanged, compared to its average volume of 959,722. Boyd Gaming Co. has a 52 week low of $49.34 and a 52 week high of $80.50. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. The business has a 50 day moving average of $72.67 and a two-hundred day moving average of $71.12. The company has a market capitalization of $5.10 billion, a PE ratio of 9.94, a PEG ratio of 4.46 and a beta of 1.55.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. Analysts anticipate that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.16%. This is an increase from Boyd Gaming's previous quarterly dividend of $0.17. The ex-dividend date is Monday, March 17th. Boyd Gaming's dividend payout ratio is currently 11.58%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BYD. StockNews.com downgraded shares of Boyd Gaming from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 27th. Stifel Nicolaus lifted their target price on shares of Boyd Gaming from $74.00 to $82.00 and gave the company a "hold" rating in a research note on Friday, February 7th. Morgan Stanley lowered Boyd Gaming from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $82.00 to $81.00 in a research report on Monday, February 24th. Argus upgraded Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 price objective for the company in a research report on Tuesday, December 17th. Finally, Jefferies Financial Group upgraded Boyd Gaming from a "hold" rating to a "buy" rating and increased their target price for the stock from $73.00 to $92.00 in a report on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $95.00.

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.