Hsbc Holdings PLC Has $5.79 Million Stake in Boyd Gaming Corporation $BYD

Hsbc Holdings PLC grew its holdings in Boyd Gaming Corporation (NYSE:BYD) by 711.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 67,813 shares of the company’s stock after purchasing an additional 59,460 shares during the quarter. Hsbc Holdings PLC’s holdings in Boyd Gaming were worth $5,792,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aristides Capital LLC bought a new stake in Boyd Gaming during the 4th quarter valued at approximately $204,000. Kera Capital Partners Inc. grew its holdings in Boyd Gaming by 51.6% in the 4th quarter. Kera Capital Partners Inc. now owns 7,603 shares of the company’s stock valued at $643,000 after buying an additional 2,587 shares during the last quarter. Invesco Ltd. increased its position in Boyd Gaming by 118.2% in the 4th quarter. Invesco Ltd. now owns 1,427,828 shares of the company’s stock worth $121,708,000 after buying an additional 773,394 shares during the period. Corient Private Wealth LLC increased its position in Boyd Gaming by 1,333.0% in the 4th quarter. Corient Private Wealth LLC now owns 204,351 shares of the company’s stock worth $17,419,000 after buying an additional 190,091 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in shares of Boyd Gaming by 24.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,353 shares of the company’s stock worth $1,735,000 after buying an additional 3,952 shares during the last quarter. 76.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BYD has been the subject of several research reports. Barclays reduced their price objective on Boyd Gaming from $87.00 to $86.00 and set an “equal weight” rating for the company in a research report on Friday, April 24th. Wells Fargo & Company dropped their target price on shares of Boyd Gaming from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 16th. Benchmark initiated coverage on shares of Boyd Gaming in a research note on Monday, June 22nd. They set a “buy” rating and a $100.00 target price for the company. Mizuho reduced their price target on shares of Boyd Gaming from $99.00 to $96.00 and set an “outperform” rating for the company in a report on Friday, April 24th. Finally, Weiss Ratings upgraded shares of Boyd Gaming from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $92.57.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, CEO Keith Smith sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $85.90, for a total transaction of $8,590,000.00. Following the completion of the transaction, the chief executive officer owned 996,981 shares in the company, valued at $85,640,667.90. This trade represents a 9.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Marianne Boyd Johnson sold 62,914 shares of Boyd Gaming stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $84.03, for a total value of $5,286,663.42. Following the sale, the chairman directly owned 1,609,808 shares in the company, 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. In the last three months, insiders sold 200,000 shares of company stock worth $17,038,987. 22.82% of the stock is currently owned by insiders.

Boyd Gaming Price Performance

Shares of NYSE:BYD opened at $89.82 on Friday. The firm has a market capitalization of $6.68 billion, a PE ratio of 3.94, a PEG ratio of 2.09 and a beta of 1.08. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. Boyd Gaming Corporation has a 1-year low of $76.33 and a 1-year high of $90.13. The business’s 50 day moving average is $84.77 and its 200-day moving average is $84.48.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, April 23rd. The company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.76 by ($0.16). The firm had revenue of $997.36 million during the quarter, compared to the consensus estimate of $1.04 billion. Boyd Gaming had a return on equity of 25.63% and a net margin of 44.84%.The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the business earned $1.62 earnings per share. Sell-side analysts predict that Boyd Gaming Corporation will post 7.32 earnings per share for the current 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 paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. Boyd Gaming’s payout ratio is presently 3.51%.

Boyd Gaming declared that its board has initiated a stock repurchase program on Thursday, April 23rd that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 7.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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.