Wedge Capital Management L L P NC Purchases New Shares in Boyd Gaming Corporation $BYD

Wedge Capital Management L L P NC acquired a new position in Boyd Gaming Corporation (NYSE:BYD) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 373,668 shares of the company’s stock, valued at approximately $32,304,000. Wedge Capital Management L L P NC owned approximately 0.47% of Boyd Gaming at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Boyd Gaming by 219.8% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock valued at $29,000 after buying an additional 255 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Boyd Gaming during the 2nd quarter valued at approximately $39,000. Advisors Asset Management Inc. boosted its position in 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 acquiring an additional 196 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Boyd Gaming by 139.9% during the 2nd quarter. Geneos Wealth Management Inc. now owns 619 shares of the company’s stock worth $48,000 after acquiring an additional 361 shares during the period. Finally, Parallel Advisors LLC raised its position in shares of Boyd Gaming by 24.5% in the 2nd quarter. Parallel Advisors LLC now owns 685 shares of the company’s stock worth $54,000 after acquiring an additional 135 shares in the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BYD. Macquarie reaffirmed a “neutral” rating and issued a $90.00 price target on shares of Boyd Gaming in a research note on Friday, October 24th. Weiss Ratings restated a “buy (b-)” rating on shares of Boyd Gaming in a report on Monday, December 15th. Morgan Stanley upped their target price on shares of Boyd Gaming from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Zacks Research cut shares of Boyd Gaming from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Boyd Gaming in a research note on Monday, September 8th. Five research analysts have rated the stock with a Buy rating and ten have assigned 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 $89.50.

Insider Buying and Selling at Boyd Gaming

In other news, Director William R. Boyd sold 20,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the transaction, the director directly owned 1,960,447 shares of the company’s stock, valued at $157,541,520.92. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 27.94% of the stock is owned by corporate insiders.

Boyd Gaming Stock Performance

Shares of BYD stock opened at $86.42 on Friday. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of 3.78, a price-to-earnings-growth ratio of 2.31 and a beta of 1.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.49 and a current ratio of 0.51. Boyd Gaming Corporation has a one year low of $58.94 and a one year high of $88.49. The company’s 50-day moving average is $81.55 and its 200 day moving average is $82.09.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share (EPS) for the quarter. The firm had revenue of $707.32 million for the quarter. Boyd Gaming had a net margin of 46.02% and a return on equity of 34.63%. Sell-side analysts expect that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. Boyd Gaming’s dividend payout ratio (DPR) is presently 3.15%.

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.