Boyd Gaming Corporation $BYD Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its holdings in shares of Boyd Gaming Corporation (NYSE:BYD) by 711.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,813 shares of the company’s stock after purchasing an additional 59,460 shares during the quarter. Hsbc Holdings PLC’s holdings in Boyd Gaming were worth $5,792,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BYD. Advisors Asset Management Inc. lifted its position in shares of Boyd Gaming by 56.8% during the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after buying an additional 196 shares in the last quarter. AQR Capital Management LLC raised its position in Boyd Gaming by 13.9% during the first quarter. AQR Capital Management LLC now owns 9,623 shares of the company’s stock worth $628,000 after acquiring an additional 1,172 shares during the period. Caxton Associates LLP purchased a new position in Boyd Gaming during the first quarter valued at $207,000. M&T Bank Corp acquired a new stake in shares of Boyd Gaming in the second quarter valued at about $229,000. Finally, Amundi increased its stake in shares of Boyd Gaming by 14,719.0% during the second quarter. Amundi now owns 3,112 shares of the company’s stock worth $253,000 after purchasing an additional 3,091 shares in the last quarter. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BYD has been the topic of several research analyst reports. Stifel Nicolaus lowered their price objective on Boyd Gaming from $95.00 to $91.00 and set a “hold” rating on the stock in a report on Friday, April 24th. Morgan Stanley reiterated a “mixed” rating on shares of Boyd Gaming in a research report on Wednesday, April 8th. Texas Capital raised shares of Boyd Gaming to a “strong-buy” rating in a research note on Wednesday, June 3rd. The Goldman Sachs Group began coverage on shares of Boyd Gaming in a research note on Friday, June 26th. They issued a “neutral” rating and a $91.00 price target on the stock. Finally, Citigroup boosted their price objective on Boyd Gaming from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $93.15.

Insider Buying and Selling at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 62,914 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $84.03, for a total transaction of $5,286,663.42. Following the transaction, the chairman owned 1,609,808 shares of the company’s stock, valued at approximately $135,272,166.24. This represents a 3.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Keith Smith sold 100,000 shares of Boyd Gaming stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $85.90, for a total value of $8,590,000.00. Following the completion of the transaction, the chief executive officer directly owned 996,981 shares of the company’s stock, valued at approximately $85,640,667.90. This represents a 9.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 200,000 shares of company stock worth $17,038,987 in the last quarter. Company insiders own 22.82% of the company’s stock.

Boyd Gaming Trading Up 0.7%

NYSE BYD opened at $87.46 on Friday. The firm’s 50-day moving average is $84.99 and its two-hundred day moving average is $84.75. Boyd Gaming Corporation has a 12 month low of $76.33 and a 12 month high of $91.00. 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 $6.50 billion, a P/E ratio of 3.83, a PEG ratio of 2.03 and a beta of 1.07.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, April 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.16). The company had revenue of $997.36 million during the quarter, compared to analysts’ expectations of $1.04 billion. Boyd Gaming had a net margin of 44.84% and a return on equity of 25.63%. Boyd Gaming’s revenue was up .6% on a year-over-year basis. During the same period last year, the firm posted $1.62 earnings per share. On average, sell-side analysts anticipate that Boyd Gaming Corporation will post 7.32 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be paid 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 payout ratio is presently 3.51%.

Boyd Gaming announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 23rd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

About Boyd Gaming

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.