AXQ Capital LP Purchases Shares of 9,298 Boyd Gaming Co. (NYSE:BYD)

AXQ Capital LP bought a new stake in Boyd Gaming Co. (NYSE:BYD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,298 shares of the company's stock, valued at approximately $674,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. GAMMA Investing LLC raised its stake in Boyd Gaming by 47.4% in the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company's stock valued at $33,000 after purchasing an additional 148 shares during the last quarter. UMB Bank n.a. raised its position in shares of Boyd Gaming by 80.3% in the fourth quarter. UMB Bank n.a. now owns 393 shares of the company's stock valued at $29,000 after buying an additional 175 shares during the last quarter. Cetera Trust Company N.A lifted its stake in shares of Boyd Gaming by 6.2% in the fourth quarter. Cetera Trust Company N.A now owns 3,535 shares of the company's stock worth $256,000 after buying an additional 205 shares in the last quarter. US Bancorp DE lifted its stake in shares of Boyd Gaming by 13.6% in the fourth quarter. US Bancorp DE now owns 2,943 shares of the company's stock worth $213,000 after buying an additional 353 shares in the last quarter. Finally, Keybank National Association OH boosted its position in Boyd Gaming by 2.6% during the fourth quarter. Keybank National Association OH now owns 14,039 shares of the company's stock worth $1,018,000 after acquiring an additional 362 shares during the last quarter. Hedge funds and other institutional investors own 76.81% of the company's stock.

Insider Activity at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 50,000 shares of Boyd Gaming stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total value of $3,884,000.00. Following the completion of the transaction, the chairman now directly owns 1,346,628 shares in the company, valued at approximately $104,606,063.04. This trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William R. Boyd sold 15,000 shares of the company's stock in a transaction dated 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 approximately $116,835,980.40. This trade represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,125 shares of company stock worth $5,158,490. Corporate insiders own 27.94% of the company's stock.

Remove Ads

Boyd Gaming Trading Down 1.3 %

NYSE:BYD traded down $0.93 during trading hours on Tuesday, reaching $68.25. 385,651 shares of the stock were exchanged, compared to its average volume of 935,777. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $80.50. The business has a 50-day moving average of $74.22 and a two-hundred day moving average of $70.83. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 4.46 and a beta of 1.55. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85.

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

Boyd Gaming declared that its board has approved a stock repurchase program on Thursday, December 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 7.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Boyd Gaming Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a $0.18 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.05%. This is a boost from Boyd Gaming's previous quarterly dividend of $0.17. Boyd Gaming's payout ratio is 11.58%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of Boyd Gaming from $82.00 to $88.00 and gave the company an "overweight" rating in a report on Friday, February 7th. JPMorgan Chase & Co. lifted their price objective on Boyd Gaming from $74.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Argus raised Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 price objective on the stock in a research note on Tuesday, December 17th. Susquehanna raised Boyd Gaming from a "neutral" rating to a "positive" rating and cut their target price for the stock from $79.00 to $77.00 in a research note on Wednesday, March 12th. Finally, JMP Securities reissued a "market perform" rating on shares of Boyd Gaming in a research report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $95.20.

Boyd Gaming Company 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.