Boyd Gaming Corporation $BYD Shares Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. grew its stake in Boyd Gaming Corporation (NYSE:BYD) by 1,466.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 32,965 shares of the company’s stock after purchasing an additional 30,860 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Boyd Gaming were worth $2,810,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Citigroup Inc. raised its stake in Boyd Gaming by 94.8% during the third quarter. Citigroup Inc. now owns 229,823 shares of the company’s stock worth $19,868,000 after acquiring an additional 111,815 shares during the period. Allianz Asset Management GmbH raised its stake in Boyd Gaming by 174.3% during the third quarter. Allianz Asset Management GmbH now owns 274,154 shares of the company’s stock worth $23,701,000 after acquiring an additional 174,214 shares during the period. Envestnet Asset Management Inc. raised its stake in Boyd Gaming by 78.3% during the third quarter. Envestnet Asset Management Inc. now owns 127,303 shares of the company’s stock worth $11,005,000 after acquiring an additional 55,923 shares during the period. Caprock Group LLC acquired a new stake in Boyd Gaming during the third quarter worth about $2,073,000. Finally, Capitolis Liquid Global Markets LLC acquired a new stake in Boyd Gaming during the third quarter worth about $13,313,000. Institutional investors and hedge funds own 76.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Weiss Ratings lowered shares of Boyd Gaming from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Citigroup increased their price objective on shares of Boyd Gaming from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Morgan Stanley reiterated a “mixed” rating on shares of Boyd Gaming in a research note on Wednesday, April 8th. Susquehanna dropped their price objective on shares of Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Finally, Mizuho dropped their price objective on shares of Boyd Gaming from $99.00 to $96.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Boyd Gaming presently has a consensus rating of “Hold” and an average target price of $92.08.

Insider Buying and Selling

In related news, insider Stephen S. Thompson sold 19,530 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $83.59, for a total transaction of $1,632,512.70. Following the completion of the sale, the insider directly owned 22,009 shares in the company, valued at approximately $1,839,732.31. This trade represents a 47.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Marianne Boyd Johnson sold 62,914 shares of the firm’s stock in a transaction that occurred on 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 sale, the chairman owned 1,609,808 shares of the company’s stock, valued at $135,272,166.24. The trade was a 3.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 143,454 shares of company stock worth $12,135,614. Corporate insiders own 22.82% of the company’s stock.

Boyd Gaming Price Performance

NYSE:BYD opened at $79.39 on Tuesday. Boyd Gaming Corporation has a 52-week low of $72.01 and a 52-week high of $89.96. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.90. The firm has a market cap of $5.90 billion, a P/E ratio of 3.48, a PEG ratio of 1.85 and a beta of 1.11. The business’s 50-day moving average price is $83.58 and its 200 day moving average price is $83.66.

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

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, June 15th. Boyd Gaming’s dividend payout ratio (DPR) is presently 3.51%.

Boyd Gaming announced that its Board of Directors has authorized a share buyback program on Thursday, April 23rd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 7.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.