Guggenheim Capital LLC Has $9.20 Million Stake in Boyd Gaming Co. (BYD)

Guggenheim Capital LLC grew its stake in Boyd Gaming Co. (NYSE:BYD) by 48.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 288,772 shares of the company’s stock after purchasing an additional 94,761 shares during the period. Guggenheim Capital LLC owned approximately 0.26% of Boyd Gaming worth $9,201,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Boyd Gaming by 1.1% in the 4th quarter. BlackRock Inc. now owns 10,265,815 shares of the company’s stock valued at $359,817,000 after purchasing an additional 107,074 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Boyd Gaming by 108.7% in the 4th quarter. Millennium Management LLC now owns 1,441,205 shares of the company’s stock valued at $50,514,000 after purchasing an additional 750,610 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Boyd Gaming by 23.7% in the 1st quarter. Northern Trust Corp now owns 1,286,118 shares of the company’s stock valued at $40,976,000 after purchasing an additional 246,426 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Boyd Gaming by 1.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,022,262 shares of the company’s stock valued at $35,830,000 after purchasing an additional 13,775 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in shares of Boyd Gaming by 2.5% in the 1st quarter. OppenheimerFunds Inc. now owns 957,830 shares of the company’s stock valued at $30,516,000 after purchasing an additional 23,032 shares during the last quarter. 73.61% of the stock is owned by institutional investors and hedge funds.

BYD has been the subject of several analyst reports. Zacks Investment Research raised Boyd Gaming from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. ValuEngine raised Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Telsey Advisory Group initiated coverage on Boyd Gaming in a research note on Tuesday, March 13th. They issued a “market perform” rating and a $36.00 price objective for the company. Barclays raised Boyd Gaming from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $33.00 to $40.00 in a research note on Tuesday, May 1st. Finally, Morgan Stanley raised their price objective on Boyd Gaming from $35.00 to $37.00 and gave the company an “equal weight” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Boyd Gaming currently has a consensus rating of “Buy” and an average target price of $40.09.

In other news, VP William R. Boyd sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $33.62, for a total value of $672,400.00. Following the sale, the vice president now directly owns 21,122 shares in the company, valued at $710,121.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 28.88% of the company’s stock.

Shares of Boyd Gaming opened at $34.50 on Friday, according to MarketBeat.com. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 2.66. Boyd Gaming Co. has a fifty-two week low of $24.17 and a fifty-two week high of $40.44. The company has a market capitalization of $3.99 billion, a PE ratio of 33.50 and a beta of 1.81.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, April 26th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.04. Boyd Gaming had a return on equity of 11.84% and a net margin of 8.18%. The firm had revenue of $606.10 million for the quarter, compared to the consensus estimate of $608.99 million. During the same period in the prior year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. equities research analysts anticipate that Boyd Gaming Co. will post 1.31 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, July 15th. Stockholders of record on Friday, June 29th will be issued a $0.06 dividend. The ex-dividend date is Thursday, June 28th. This represents a $0.24 annualized dividend and a dividend yield of 0.70%. Boyd Gaming’s payout ratio is 19.42%.

Boyd Gaming Company Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South. As of December 31, 2017, the company owned and operated 24 gaming entertainment properties offering a total of 1,358,856 square feet of casino space, 30,267 slot machines, 632 table games, and 9,372 hotel rooms located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, and Mississippi.

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Institutional Ownership by Quarter for Boyd Gaming (NYSE:BYD)

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