Campbell & CO Investment Adviser LLC Makes New Investment in Boyd Gaming Co. (NYSE:BYD)

Campbell & CO Investment Adviser LLC acquired a new position in Boyd Gaming Co. (NYSE:BYD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 69,253 shares of the company's stock, valued at approximately $4,336,000. Boyd Gaming accounts for 0.4% of Campbell & CO Investment Adviser LLC's holdings, making the stock its 17th largest holding. Campbell & CO Investment Adviser LLC owned 0.07% of Boyd Gaming at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BYD. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Boyd Gaming by 885.4% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,657,441 shares of the company's stock valued at $100,822,000 after purchasing an additional 1,489,240 shares during the last quarter. Norges Bank bought a new stake in shares of Boyd Gaming during the fourth quarter valued at approximately $44,773,000. Boston Partners increased its position in shares of Boyd Gaming by 29.5% during the fourth quarter. Boston Partners now owns 2,756,215 shares of the company's stock valued at $172,638,000 after acquiring an additional 628,512 shares in the last quarter. HG Vora Capital Management LLC increased its position in shares of Boyd Gaming by 12.5% during the third quarter. HG Vora Capital Management LLC now owns 2,250,000 shares of the company's stock valued at $136,868,000 after acquiring an additional 250,000 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Boyd Gaming by 40.5% during the third quarter. American Century Companies Inc. now owns 824,200 shares of the company's stock valued at $50,136,000 after acquiring an additional 237,525 shares in the last quarter. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Mizuho reduced their price target on shares of Boyd Gaming from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Friday, April 26th. Raymond James initiated coverage on shares of Boyd Gaming in a research report on Tuesday, May 21st. They set an "outperform" rating and a $67.00 price target for the company. JPMorgan Chase & Co. downgraded shares of Boyd Gaming from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $80.00 to $67.00 in a research report on Friday, April 26th. Morgan Stanley lifted their target price on shares of Boyd Gaming from $71.00 to $72.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 9th. Finally, Argus downgraded shares of Boyd Gaming from a "buy" rating to a "hold" rating in a research report on Wednesday, May 1st. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $91.42.

Insiders Place Their Bets

In other news, Director A. Randall Thoman sold 2,500 shares of the business's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total value of $159,375.00. Following the sale, the director now directly owns 4,017 shares in the company, valued at approximately $256,083.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director A. Randall Thoman sold 2,500 shares of the business's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total value of $159,375.00. Following the sale, the director now directly owns 4,017 shares in the company, valued at approximately $256,083.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christine J. Spadafor sold 1,874 shares of the business's stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $53.38, for a total transaction of $100,034.12. Following the completion of the sale, the director now owns 2,338 shares in the company, valued at $124,802.44. The disclosure for this sale can be found here. Insiders have sold a total of 317,838 shares of company stock worth $20,201,507 in the last 90 days. 28.40% of the stock is currently owned by corporate insiders.

Boyd Gaming Price Performance

Shares of BYD traded up $0.64 during trading hours on Monday, reaching $53.96. 847,934 shares of the stock traded hands, compared to its average volume of 890,892. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.61. Boyd Gaming Co. has a 52-week low of $49.34 and a 52-week high of $73.00. The company's 50-day moving average price is $58.90 and its two-hundred day moving average price is $61.26. The company has a market cap of $5.12 billion, a P/E ratio of 9.69 and a beta of 1.60.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its earnings results on Thursday, April 25th. The company reported $1.51 earnings per share for the quarter, missing analysts' consensus estimates of $1.57 by ($0.06). Boyd Gaming had a net margin of 14.91% and a return on equity of 34.76%. The firm had revenue of $960.52 million for the quarter, compared to analysts' expectations of $947.26 million. On average, analysts anticipate that Boyd Gaming Co. will post 6.06 earnings per share for the current year.

Boyd Gaming Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Saturday, June 15th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Friday, June 14th. Boyd Gaming's payout ratio is currently 12.21%.

Boyd Gaming declared that its Board of Directors has approved a stock repurchase plan on Monday, May 13th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 9.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

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.