Foster & Motley Inc. Purchases Shares of 102,878 Boyd Gaming Corporation $BYD

Foster & Motley Inc. acquired a new stake in Boyd Gaming Corporation (NYSE:BYD) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 102,878 shares of the company’s stock, valued at approximately $9,087,000. Foster & Motley Inc. owned approximately 0.14% of Boyd Gaming at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Altshuler Shaham Ltd bought a new stake in Boyd Gaming during the fourth quarter worth about $25,000. Los Angeles Capital Management LLC acquired a new position in shares of Boyd Gaming in the 4th quarter valued at approximately $25,000. Advisors Asset Management Inc. lifted its holdings 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 worth $36,000 after acquiring an additional 196 shares during the period. First Horizon Corp acquired a new stake in shares of Boyd Gaming during the 4th quarter worth approximately $41,000. Finally, Bessemer Group Inc. boosted its position in shares of Boyd Gaming by 62.8% during the 1st quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock worth $43,000 after acquiring an additional 203 shares in the last quarter. 76.81% of the stock is owned by institutional investors.

Boyd Gaming Trading Down 0.1%

Shares of NYSE BYD opened at $82.70 on Wednesday. The firm has a 50 day moving average price of $86.49 and a two-hundred day moving average price of $84.67. The stock has a market cap of $6.01 billion, a P/E ratio of 3.64, a price-to-earnings-growth ratio of 2.06 and a beta of 1.08. Boyd Gaming Corporation has a 52-week low of $76.33 and a 52-week high of $91.41. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.74 and a current ratio of 0.77.

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

Boyd Gaming Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 15th. Boyd Gaming’s payout ratio is 3.52%.

Boyd Gaming declared that its board has initiated a stock repurchase plan on Thursday, April 23rd that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 7.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BYD shares. The Goldman Sachs Group began coverage on Boyd Gaming in a research note on Friday, June 26th. They issued a “neutral” rating and a $91.00 price target on the stock. Morgan Stanley decreased their target price on Boyd Gaming from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Monday, July 27th. Barclays boosted their target price on Boyd Gaming from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Friday, July 24th. Susquehanna increased their target price on shares of Boyd Gaming from $84.00 to $87.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of Boyd Gaming from $90.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Boyd Gaming presently has an average rating of “Hold” and a consensus target price of $94.69.

Insider Activity

In other news, CEO Keith Smith sold 100,000 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $85.90, for a total value of $8,590,000.00. Following the completion of the sale, the chief executive officer owned 996,981 shares of the company’s stock, valued at approximately $85,640,667.90. This represents a 9.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Josh Hirsberg sold 12,777 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total value of $1,146,863.52. Following the transaction, the chief financial officer owned 422,969 shares of the company’s stock, valued at $37,965,697.44. This trade represents a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 22.82% of the company’s stock.

About Boyd Gaming

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.