Landsberg Bennett & Dubbaneh LLC lessened its position in shares of Boyd Gaming Co. (NYSE:BYD) by 7.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,626 shares of the company’s stock after selling 747 shares during the period. Landsberg Bennett & Dubbaneh LLC’s holdings in Boyd Gaming were worth $228,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Resources Investment Advisors LLC. bought a new position in Boyd Gaming during the 2nd quarter worth about $48,000. NEXT Financial Group Inc bought a new position in Boyd Gaming during the 2nd quarter worth about $67,000. Public Employees Retirement System of Ohio increased its holdings in Boyd Gaming by 18.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,613 shares of the company’s stock worth $97,000 after purchasing an additional 564 shares in the last quarter. Advisor Group Inc. increased its holdings in Boyd Gaming by 27.8% during the 2nd quarter. Advisor Group Inc. now owns 4,532 shares of the company’s stock worth $122,000 after purchasing an additional 986 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in Boyd Gaming during the 2nd quarter worth about $265,000. Hedge funds and other institutional investors own 67.93% of the company’s stock.
A number of equities analysts have issued reports on BYD shares. Wolfe Research started coverage on Boyd Gaming in a report on Friday, June 14th. They set an “outperform” rating and a $37.00 target price for the company. Telsey Advisory Group upgraded Boyd Gaming from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $31.00 to $36.00 in a report on Wednesday, July 31st. Deutsche Bank restated a “buy” rating and issued a $40.00 price objective on shares of Boyd Gaming in a report on Wednesday, July 31st. Barclays started coverage on Boyd Gaming in a report on Tuesday, September 3rd. They issued an “equal weight” rating and a $8.00 price objective for the company. Finally, ValuEngine upgraded Boyd Gaming from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Boyd Gaming presently has a consensus rating of “Buy” and an average price target of $30.89.
Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.01). The company had revenue of $846.13 million during the quarter, compared to the consensus estimate of $839.64 million. Boyd Gaming had a net margin of 4.18% and a return on equity of 14.13%. Boyd Gaming’s revenue was up 37.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. On average, sell-side analysts expect that Boyd Gaming Co. will post 1.72 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.28 annualized dividend and a yield of 1.08%. Boyd Gaming’s dividend payout ratio (DPR) is currently 21.05%.
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 & South. As of March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.
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