Quantbot Technologies LP Makes New $1.97 Million Investment in Boyd Gaming Co. (NYSE:BYD)

Quantbot Technologies LP bought a new position in Boyd Gaming Co. (NYSE:BYD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 27,136 shares of the company's stock, valued at approximately $1,968,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Partners raised its stake in shares of Boyd Gaming by 36.9% in the fourth quarter. Boston Partners now owns 3,955,544 shares of the company's stock worth $287,185,000 after purchasing an additional 1,065,887 shares during the last quarter. State Street Corp boosted its holdings in shares of Boyd Gaming by 0.8% in the 3rd quarter. State Street Corp now owns 2,108,672 shares of the company's stock valued at $136,680,000 after acquiring an additional 17,591 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Boyd Gaming by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,153,768 shares of the company's stock worth $74,611,000 after acquiring an additional 33,379 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Boyd Gaming by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 974,973 shares of the company's stock worth $70,725,000 after purchasing an additional 3,052 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Boyd Gaming by 1.9% during the fourth quarter. Victory Capital Management Inc. now owns 925,884 shares of the company's stock valued at $67,164,000 after purchasing an additional 16,979 shares during the period. Hedge funds and other institutional investors own 76.81% of the company's stock.

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Insider Activity

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 50,000 shares of the firm's 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 sale, the chairman now directly owns 1,346,628 shares in the company, valued at $104,606,063.04. This trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christine J. Spadafor sold 1,125 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $75.28, for a total transaction of $84,690.00. Following the completion of the transaction, the director now directly owns 4,852 shares in the company, valued at $365,258.56. This trade represents a 18.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,125 shares of company stock worth $5,158,490. 27.94% of the stock is currently owned by company insiders.

Boyd Gaming Trading Down 0.8 %

NYSE BYD traded down $0.55 on Thursday, reaching $67.81. The stock had a trading volume of 624,331 shares, compared to its average volume of 935,530. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The stock has a fifty day moving average price of $74.03 and a two-hundred day moving average price of $70.88. Boyd Gaming Co. has a 12-month low of $49.34 and a 12-month high of $80.50. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 4.46 and a beta of 1.55.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts forecast that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming declared that its Board of Directors has initiated a stock buyback program on Thursday, December 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 7.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.18 per share. This is an increase from Boyd Gaming's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.72 annualized dividend and a yield of 1.06%. Boyd Gaming's dividend payout ratio is 11.58%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BYD shares. Mizuho boosted their price target on Boyd Gaming from $79.00 to $86.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Barclays increased their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Morgan Stanley lowered Boyd Gaming from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $82.00 to $81.00 in a research note on Monday, February 24th. Stifel Nicolaus upped their target price on Boyd Gaming from $74.00 to $82.00 and gave the stock a "hold" rating in a research note on Friday, February 7th. Finally, JMP Securities restated a "market perform" rating on shares of Boyd Gaming in a research report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus 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.