nVerses Capital LLC Acquires New Position in Boyd Gaming Co. (NYSE:BYD)

nVerses Capital LLC acquired a new stake in Boyd Gaming Co. (NYSE:BYD) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,000 shares of the company’s stock, valued at approximately $275,000.

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in shares of Boyd Gaming by 57.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after acquiring an additional 189 shares during the period. Blue Trust Inc. lifted its stake in shares of Boyd Gaming by 58.2% during the 2nd quarter. Blue Trust Inc. now owns 783 shares of the company’s stock worth $43,000 after buying an additional 288 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Boyd Gaming during the 4th quarter worth about $50,000. EntryPoint Capital LLC acquired a new stake in Boyd Gaming in the 1st quarter worth about $90,000. Finally, Covestor Ltd raised its stake in Boyd Gaming by 132.6% in the 1st quarter. Covestor Ltd now owns 1,742 shares of the company’s stock worth $117,000 after purchasing an additional 993 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Stifel Nicolaus raised their target price on shares of Boyd Gaming from $65.00 to $67.00 and gave the company a “hold” rating in a report on Friday, July 26th. Raymond James assumed coverage on shares of Boyd Gaming in a report on Tuesday, May 21st. They set an “outperform” rating and a $67.00 price target for the company. Royal Bank of Canada decreased their price objective on Boyd Gaming from $337.00 to $308.00 and set an “outperform” rating for the company in a report on Thursday, May 16th. StockNews.com upgraded Boyd Gaming from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, Macquarie cut their price target on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Boyd Gaming currently has an average rating of “Hold” and a consensus target price of $90.08.

Insider Buying and Selling at Boyd Gaming

In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the completion of the sale, the chairman now owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the completion of the sale, the chairman now owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christine J. Spadafor sold 1,242 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the sale, 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. Company insiders own 27.94% of the company’s stock.

Boyd Gaming Stock Up 0.2 %

Shares of BYD traded up $0.09 on Friday, reaching $60.02. The company’s stock had a trading volume of 688,593 shares, compared to its average volume of 863,169. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 1.70. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $68.46. The stock has a market capitalization of $5.51 billion, a PE ratio of 10.78, a PEG ratio of 8.84 and a beta of 1.58. The firm has a fifty day moving average of $57.24 and a 200-day moving average of $58.72.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, July 25th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.09. The company had revenue of $967.50 million for the quarter, compared to analyst estimates of $909.49 million. Boyd Gaming had a net margin of 13.32% and a return on equity of 34.29%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.58 EPS. Equities analysts predict that Boyd Gaming Co. will post 6.17 EPS for the current year.

Boyd Gaming Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Sunday, September 15th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.68 annualized dividend and a yield of 1.13%. Boyd Gaming’s dividend payout ratio (DPR) is 12.21%.

Boyd Gaming declared that its board has approved a stock buyback program on Monday, May 13th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 9.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Boyd Gaming 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.