Dockside LLC Makes New Investment in Boyd Gaming Corporation $BYD

Dockside LLC bought a new position in shares of Boyd Gaming Corporation (NYSE:BYD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,056 shares of the company’s stock, valued at approximately $1,283,000.

Other hedge funds also recently bought and sold shares of the company. Citigroup Inc. lifted its holdings in Boyd Gaming by 94.8% during the third quarter. Citigroup Inc. now owns 229,823 shares of the company’s stock worth $19,868,000 after buying an additional 111,815 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Boyd Gaming by 78.3% during the third quarter. Envestnet Asset Management Inc. now owns 127,303 shares of the company’s stock worth $11,005,000 after buying an additional 55,923 shares during the period. Capitolis Liquid Global Markets LLC purchased a new stake in Boyd Gaming during the third quarter worth $13,313,000. Clark Capital Management Group Inc. purchased a new stake in Boyd Gaming during the third quarter worth $50,295,000. Finally, WINTON GROUP Ltd purchased a new stake in Boyd Gaming during the third quarter worth $6,034,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Marianne Boyd Johnson sold 62,914 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $84.03, for a total value of $5,286,663.42. Following the completion of the sale, the chairman owned 1,609,808 shares of the company’s stock, valued at $135,272,166.24. This trade represents a 3.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Keith Smith sold 100,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $85.90, for a total value of $8,590,000.00. Following the completion of the sale, the chief executive officer directly owned 996,981 shares of the company’s stock, valued at $85,640,667.90. The trade was a 9.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 200,000 shares of company stock valued at $17,038,987 in the last three months. Insiders own 22.82% of the company’s stock.

Boyd Gaming Stock Down 0.1%

Boyd Gaming stock opened at $87.33 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.60 and a quick ratio of 0.58. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of 3.83, a PEG ratio of 2.04 and a beta of 1.08. Boyd Gaming Corporation has a 1-year low of $73.00 and a 1-year high of $89.96. The business has a fifty day moving average price of $84.54 and a 200-day moving average price of $84.20.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.16). The business had revenue of $997.36 million during the quarter, compared to analyst estimates of $1.04 billion. Boyd Gaming had a return on equity of 25.63% and a net margin of 44.84%.The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 EPS. Equities research analysts forecast that Boyd Gaming Corporation will post 7.32 EPS for the current fiscal year.

Boyd Gaming announced that its Board of Directors has approved a share buyback program on Thursday, April 23rd that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 7.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Boyd Gaming Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. Boyd Gaming’s dividend payout ratio (DPR) is presently 3.51%.

Analysts Set New Price Targets

A number of research firms have weighed in on BYD. Mizuho lowered their target price on Boyd Gaming from $99.00 to $96.00 and set an “outperform” rating for the company in a report on Friday, April 24th. Texas Capital upgraded Boyd Gaming to a “strong-buy” rating in a report on Wednesday, June 3rd. JPMorgan Chase & Co. upped their target price on Boyd Gaming from $89.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Weiss Ratings upgraded Boyd Gaming from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 4th. Finally, Morgan Stanley restated a “mixed” rating on shares of Boyd Gaming in a report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $92.08.

Boyd Gaming Company Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.