Legal & General Group Plc Purchases Shares of 75,363 Boyd Gaming Corporation $BYD

Legal & General Group Plc purchased a new stake in shares of Boyd Gaming Corporation (NYSE:BYD) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 75,363 shares of the company’s stock, valued at approximately $6,657,000. Legal & General Group Plc owned about 0.10% of Boyd Gaming as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BYD. Altshuler Shaham Ltd bought a new stake in Boyd Gaming during the fourth quarter valued at approximately $25,000. Los Angeles Capital Management LLC purchased a new position in shares of Boyd Gaming during the 4th quarter worth $25,000. Advisors Asset Management Inc. grew 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 acquiring an additional 196 shares during the period. Bessemer Group Inc. increased its stake in shares of Boyd Gaming by 62.8% in the 1st quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock worth $43,000 after purchasing an additional 203 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Boyd Gaming by 139.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 619 shares of the company’s stock worth $48,000 after purchasing an additional 361 shares during the period. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Stock Up 0.4%

Shares of BYD opened at $76.67 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.77 and a quick ratio of 0.74. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 3.37, a price-to-earnings-growth ratio of 1.36 and a beta of 1.06. Boyd Gaming Corporation has a 1 year low of $76.24 and a 1 year high of $91.41. The business’s 50 day simple moving average is $85.07 and its 200-day simple moving average is $84.36.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, July 23rd. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.04. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.52%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the firm posted $1.87 earnings per share. Boyd Gaming’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities analysts expect that Boyd Gaming Corporation will post 7.29 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 15th. Boyd Gaming’s dividend payout ratio is currently 3.52%.

Insiders Place Their Bets

In other Boyd Gaming news, CFO Josh Hirsberg sold 12,777 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total transaction of $1,146,863.52. Following the sale, the chief financial officer directly owned 422,969 shares in the company, valued at $37,965,697.44. This represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 22.82% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Mizuho set a $104.00 target price on shares of Boyd Gaming in a research note on Friday, July 24th. Texas Capital raised Boyd Gaming to a “strong-buy” rating in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. increased their target price on Boyd Gaming from $90.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Stifel Nicolaus lifted their target price on Boyd Gaming from $91.00 to $92.00 and gave the company a “hold” rating in a research note on Friday, July 24th. Finally, Morgan Stanley lowered their price target on Boyd Gaming from $90.00 to $89.00 and set an “equal weight” rating on the stock in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $94.69.

Boyd Gaming 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.