Renaissance Technologies LLC grew its holdings in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 398.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,300 shares of the company's stock after purchasing an additional 48,200 shares during the quarter. Renaissance Technologies LLC owned about 0.07% of Boyd Gaming worth $4,374,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of BYD. Boston Partners boosted its stake in shares of Boyd Gaming by 36.9% in the 4th quarter. Boston Partners now owns 3,955,544 shares of the company's stock valued at $287,185,000 after purchasing an additional 1,065,887 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Boyd Gaming by 51.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company's stock worth $94,074,000 after purchasing an additional 441,963 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Boyd Gaming by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 974,973 shares of the company's stock valued at $70,725,000 after acquiring an additional 3,052 shares during the period. Franklin Resources Inc. increased its holdings in Boyd Gaming by 37.2% during the fourth quarter. Franklin Resources Inc. now owns 964,051 shares of the company's stock valued at $69,932,000 after buying an additional 261,443 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Boyd Gaming by 1.9% in the 4th quarter. Victory Capital Management Inc. now owns 925,884 shares of the company's stock worth $67,164,000 after purchasing an additional 16,979 shares during the period. 76.81% of the stock is currently owned by hedge funds and other institutional investors.
Boyd Gaming Stock Down 0.6 %
Shares of Boyd Gaming stock traded down $0.39 on Thursday, hitting $66.06. 1,678,486 shares of the company's stock traded hands, compared to its average volume of 983,387. The firm's 50-day moving average is $68.83 and its 200 day moving average is $71.04. Boyd Gaming Co. has a 52-week low of $49.34 and a 52-week high of $80.50. The stock has a market cap of $5.45 billion, a P/E ratio of 10.62, a PEG ratio of 4.46 and a beta of 1.31. 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 released its quarterly earnings results on Thursday, April 24th. The company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.55 by $0.07. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. Equities analysts anticipate that Boyd Gaming Co. will post 6.52 earnings per share for the current year.
Boyd Gaming Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.09%. The ex-dividend date was Monday, March 17th. This is a boost from Boyd Gaming's previous quarterly dividend of $0.17. Boyd Gaming's payout ratio is 11.58%.
Analyst Ratings Changes
Several research analysts have weighed in on BYD shares. Barclays dropped their price target on Boyd Gaming from $78.00 to $73.00 and set an "equal weight" rating for the company in a research note on Tuesday. JPMorgan Chase & Co. upped their price objective on Boyd Gaming from $74.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. Stifel Nicolaus lifted their price objective on shares of Boyd Gaming from $74.00 to $82.00 and gave the company a "hold" rating in a report on Friday, February 7th. Wells Fargo & Company raised their target price on shares of Boyd Gaming from $82.00 to $88.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Finally, Morgan Stanley decreased their price objective on shares of Boyd Gaming from $75.00 to $72.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Boyd Gaming presently has a consensus rating of "Moderate Buy" and an average target price of $93.73.
Check Out Our Latest Stock Report on BYD
Insiders Place Their Bets
In other news, Director Christine J. Spadafor sold 1,125 shares of Boyd Gaming stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $75.28, for a total transaction of $84,690.00. Following the sale, the director now owns 4,852 shares of the company's stock, valued at approximately $365,258.56. This trade represents a 18.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $1,189,800.00. Following the sale, the director now directly 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 disclosure for this sale can be found here. Insiders sold a total of 66,125 shares of company stock worth $5,158,490 in the last quarter. 27.94% of the stock is currently owned by corporate insiders.
About Boyd Gaming
(
Free Report)
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.
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