Waddell & Reed Financial Inc. purchased a new position in shares of Boyd Gaming Co. (NYSE:BYD) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 381,000 shares of the company’s stock, valued at approximately $13,205,000. Waddell & Reed Financial Inc. owned approximately 0.34% of Boyd Gaming as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Amalgamated Bank lifted its position in Boyd Gaming by 11.5% during the 2nd quarter. Amalgamated Bank now owns 13,302 shares of the company’s stock worth $461,000 after acquiring an additional 1,374 shares in the last quarter. Arizona State Retirement System lifted its position in Boyd Gaming by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 57,039 shares of the company’s stock worth $1,977,000 after acquiring an additional 1,433 shares in the last quarter. Buckley Wealth Management LLC lifted its position in Boyd Gaming by 7.6% during the 2nd quarter. Buckley Wealth Management LLC now owns 21,188 shares of the company’s stock worth $734,000 after acquiring an additional 1,500 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Boyd Gaming by 13.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 14,813 shares of the company’s stock worth $472,000 after acquiring an additional 1,771 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in Boyd Gaming by 6.7% during the 2nd quarter. SG Americas Securities LLC now owns 40,156 shares of the company’s stock worth $1,392,000 after acquiring an additional 2,505 shares in the last quarter. 72.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BYD opened at $34.46 on Friday. Boyd Gaming Co. has a 52-week low of $24.52 and a 52-week high of $40.44. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.71 and a beta of 1.62. The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 3.05.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, July 26th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. Boyd Gaming had a return on equity of 12.73% and a net margin of 7.72%. The company had revenue of $616.80 million for the quarter, compared to analyst estimates of $608.94 million. During the same period in the prior year, the company posted $0.26 EPS. Boyd Gaming’s quarterly revenue was up 2.1% on a year-over-year basis. sell-side analysts expect that Boyd Gaming Co. will post 1.3 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, September 27th. Boyd Gaming’s payout ratio is 23.30%.

BYD has been the topic of several recent research reports. Jefferies Financial Group raised Boyd Gaming from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Tuesday, August 14th. Zacks Investment Research lowered Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. JPMorgan Chase & Co. boosted their price target on Boyd Gaming from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. ValuEngine lowered Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 8th. Finally, Morgan Stanley boosted their price target on Boyd Gaming from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 26th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $40.75.

In other Boyd Gaming news, VP William R. Boyd sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $37.00, for a total value of $259,000.00. Following the transaction, the vice president now directly owns 21,903 shares of the company’s stock, valued at approximately $810,411. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Marianne Boyd Johnson sold 30,600 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $35.86, for a total value of $1,097,316.00. Following the completion of the transaction, the insider now directly owns 231,173 shares in the company, valued at $8,289,863.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,000 shares of company stock worth $2,428,514. 28.88% 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. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South. As of December 31, 2017, the company owned and operated 24 gaming entertainment properties offering a total of 1,358,856 square feet of casino space, 30,267 slot machines, 632 table games, and 9,372 hotel rooms located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, and Mississippi.

Further Reading: Beta

Institutional Ownership by Quarter for Boyd Gaming (NYSE:BYD)

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