Ariel Investments LLC Has $167.05 Million Stock Holdings in Boyd Gaming Co. (NYSE:BYD)

Ariel Investments LLC grew its position in Boyd Gaming Co. (NYSE:BYD - Free Report) by 12.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,031,691 shares of the company's stock after acquiring an additional 335,984 shares during the quarter. Boyd Gaming accounts for about 1.8% of Ariel Investments LLC's holdings, making the stock its 24th largest position. Ariel Investments LLC owned 3.20% of Boyd Gaming worth $167,046,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Cohen & Steers Inc. raised its position in Boyd Gaming by 34.4% in the fourth quarter. Cohen & Steers Inc. now owns 4,747,662 shares of the company's stock worth $297,270,000 after purchasing an additional 1,216,121 shares in the last quarter. Boston Partners raised its holdings in shares of Boyd Gaming by 10.0% in the 1st quarter. Boston Partners now owns 3,031,091 shares of the company's stock worth $203,276,000 after buying an additional 274,876 shares in the last quarter. Bamco Inc. NY lifted its position in shares of Boyd Gaming by 4.0% during the 1st quarter. Bamco Inc. NY now owns 1,899,344 shares of the company's stock worth $127,864,000 after buying an additional 73,491 shares during the period. American Century Companies Inc. boosted its stake in Boyd Gaming by 19.7% in the 2nd quarter. American Century Companies Inc. now owns 1,149,701 shares of the company's stock valued at $63,349,000 after buying an additional 189,226 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Boyd Gaming by 0.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,002,438 shares of the company's stock valued at $67,485,000 after buying an additional 3,087 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BYD shares. StockNews.com raised Boyd Gaming from a "hold" rating to a "buy" rating in a report on Monday, July 22nd. Morgan Stanley upgraded shares of Boyd Gaming from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $66.00 to $74.00 in a research report on Wednesday, September 4th. Bank of America raised their price objective on shares of Boyd Gaming from $68.00 to $72.00 and gave the stock a "buy" rating in a report on Tuesday, September 17th. Stifel Nicolaus boosted their target price on Boyd Gaming from $65.00 to $67.00 and gave the stock a "hold" rating in a report on Friday, July 26th. Finally, Macquarie dropped their price target on Boyd Gaming from $72.00 to $68.00 and set a "neutral" rating for the company in a report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Boyd Gaming presently has an average rating of "Moderate Buy" and a consensus price target of $89.31.

Boyd Gaming Trading Up 1.5 %

NYSE BYD traded up $0.93 during trading hours on Thursday, hitting $64.89. The company's stock had a trading volume of 593,236 shares, compared to its average volume of 940,975. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $68.46. The firm has a market capitalization of $6.16 billion, a P/E ratio of 11.62 and a beta of 1.57. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 1.70. The stock has a fifty day moving average of $59.47 and a 200 day moving average of $58.44.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.49 by $0.09. Boyd Gaming had a return on equity of 34.29% and a net margin of 13.32%. The company had revenue of $967.50 million for the quarter, compared to the consensus estimate of $909.49 million. During the same quarter in the prior year, the business posted $1.58 EPS. The firm's quarterly revenue was up 5.5% on a year-over-year basis. Equities research analysts forecast that Boyd Gaming Co. will post 6.25 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Sunday, September 15th will be paid a $0.17 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.05%. Boyd Gaming's dividend payout ratio (DPR) is presently 12.21%.

Insider Activity at Boyd Gaming

In other news, Director Christine J. Spadafor sold 1,242 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $60.36, for a total value of $74,967.12. Following the completion of the transaction, the director now owns 1,096 shares of the company's stock, valued at approximately $66,154.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 73,130 shares of Boyd Gaming stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total value of $4,404,619.90. Following the transaction, the chairman now owns 1,423,498 shares of the company's stock, valued at $85,737,284.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christine J. Spadafor sold 1,242 shares of the company's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $60.36, for a total transaction of $74,967.12. Following the completion of the transaction, the director now owns 1,096 shares of the company's stock, valued at approximately $66,154.56. The disclosure for this sale can be found here. 27.94% of the stock is currently owned by corporate insiders.

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.