Telsey Advisory Group initiated coverage on shares of Boyd Gaming (NYSE:BYD) in a research report released on Tuesday morning, The Fly reports. The brokerage issued a market perform rating on the stock.
Several other brokerages have also recently issued reports on BYD. Zacks Investment Research cut shares of Boyd Gaming from a buy rating to a hold rating in a research note on Thursday, February 8th. SunTrust Banks lowered their price objective on shares of Boyd Gaming to $38.00 and set a buy rating for the company in a research note on Wednesday, February 21st. Morgan Stanley reissued an equal weight rating and set a $34.00 price objective (down from $35.00) on shares of Boyd Gaming in a research note on Wednesday, February 21st. ValuEngine cut shares of Boyd Gaming from a buy rating to a hold rating in a research report on Friday, December 1st. Finally, Jefferies Group initiated coverage on shares of Boyd Gaming in a research report on Thursday, January 18th. They set a hold rating for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $35.50.
Shares of Boyd Gaming (BYD) opened at $33.36 on Tuesday. Boyd Gaming has a 12 month low of $19.66 and a 12 month high of $40.44. The stock has a market cap of $3,870.27, a price-to-earnings ratio of 33.72 and a beta of 1.92. The company has a current ratio of 0.87, a quick ratio of 0.82 and a debt-to-equity ratio of 2.77.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Friday, March 16th will be issued a $0.45 dividend. The ex-dividend date is Thursday, March 15th. This represents a $1.80 dividend on an annualized basis and a yield of 5.40%. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.05. Boyd Gaming’s payout ratio is currently 12.20%.
In other Boyd Gaming news, CEO Keith Smith sold 70,000 shares of the business’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $35.88, for a total value of $2,511,600.00. Following the transaction, the chief executive officer now owns 1,202,714 shares in the company, valued at approximately $43,153,378.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian A. Larson sold 99,077 shares of the business’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $35.71, for a total transaction of $3,538,039.67. Following the completion of the transaction, the vice president now owns 104,216 shares in the company, valued at approximately $3,721,553.36. The disclosure for this sale can be found here. Insiders sold a total of 176,605 shares of company stock worth $6,314,851 in the last quarter. 29.16% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Penn Capital Management Co. Inc. lifted its holdings in Boyd Gaming by 12.2% in the 4th quarter. Penn Capital Management Co. Inc. now owns 79,307 shares of the company’s stock worth $2,894,000 after buying an additional 8,611 shares in the last quarter. Chartwell Investment Partners LLC acquired a new position in Boyd Gaming in the 4th quarter worth $5,346,000. Pinebridge Investments L.P. lifted its holdings in Boyd Gaming by 39.4% in the 4th quarter. Pinebridge Investments L.P. now owns 127,136 shares of the company’s stock worth $4,456,000 after buying an additional 35,923 shares in the last quarter. Bamco Inc. NY raised its stake in shares of Boyd Gaming by 10.4% in the 3rd quarter. Bamco Inc. NY now owns 1,528,617 shares of the company’s stock valued at $39,820,000 after purchasing an additional 143,680 shares in the last quarter. Finally, HL Financial Services LLC raised its stake in shares of Boyd Gaming by 3.0% in the 4th quarter. HL Financial Services LLC now owns 141,587 shares of the company’s stock valued at $4,963,000 after purchasing an additional 4,115 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.
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Boyd Gaming Company Profile
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
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