Jacobs Levy Equity Management Inc. Acquires Shares of 136,348 Boyd Gaming Corporation $BYD

Jacobs Levy Equity Management Inc. purchased a new stake in Boyd Gaming Corporation (NYSE:BYD - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 136,348 shares of the company's stock, valued at approximately $8,976,000. Jacobs Levy Equity Management Inc. owned approximately 0.17% of Boyd Gaming at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Gotham Asset Management LLC boosted its stake in shares of Boyd Gaming by 39.2% in the 1st quarter. Gotham Asset Management LLC now owns 346,787 shares of the company's stock valued at $22,829,000 after purchasing an additional 97,703 shares in the last quarter. Hancock Whitney Corp boosted its stake in shares of Boyd Gaming by 25.6% in the 1st quarter. Hancock Whitney Corp now owns 8,223 shares of the company's stock valued at $541,000 after purchasing an additional 1,675 shares in the last quarter. Bwcp LP boosted its position in Boyd Gaming by 6.1% during the 1st quarter. Bwcp LP now owns 519,231 shares of the company's stock worth $34,181,000 after buying an additional 29,862 shares during the period. AQR Capital Management LLC boosted its position in Boyd Gaming by 13.9% during the 1st quarter. AQR Capital Management LLC now owns 9,623 shares of the company's stock worth $628,000 after buying an additional 1,172 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in 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 buying an additional 196 shares during the period. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on BYD. Morgan Stanley reiterated a "sell" rating on shares of Boyd Gaming in a research report on Friday, July 11th. Truist Financial lifted their target price on shares of Boyd Gaming from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Susquehanna lowered shares of Boyd Gaming from a "positive" rating to a "neutral" rating and raised their price target for the stock from $76.00 to $86.00 in a report on Friday, July 11th. Macquarie raised their price target on shares of Boyd Gaming from $74.00 to $88.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Finally, JPMorgan Chase & Co. began coverage on shares of Boyd Gaming in a report on Monday, June 23rd. They set a "neutral" rating and a $79.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $86.62.

Boyd Gaming Stock Down 1.4%

BYD stock traded down $1.23 during midday trading on Friday, reaching $84.76. 540,478 shares of the company's stock traded hands, compared to its average volume of 758,352. The company has a market cap of $6.80 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 2.43 and a beta of 1.23. The firm's fifty day moving average price is $84.10 and its 200-day moving average price is $75.67. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.53. Boyd Gaming Corporation has a 52 week low of $58.94 and a 52 week high of $87.83.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $1.87 EPS for the quarter, beating analysts' consensus estimates of $1.67 by $0.20. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $976.81 million. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. Boyd Gaming's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.58 EPS. As a group, sell-side analysts forecast that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $0.18 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. Boyd Gaming's dividend payout ratio is presently 11.08%.

Insider Transactions at Boyd Gaming

In other news, Chairman Marianne Boyd Johnson sold 100,000 shares of the company's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $86.62, for a total value of $8,662,000.00. Following the completion of the sale, the chairman owned 1,704,379 shares in the company, valued at $147,633,308.98. This represents a 5.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William R. Boyd sold 9,774 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $81.61, for a total transaction of $797,656.14. Following the completion of the sale, the director owned 15,188 shares of the company's stock, valued at approximately $1,239,492.68. The trade was a 39.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 385,438 shares of company stock worth $32,638,085. 27.94% of the stock is owned by insiders.

Boyd Gaming Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.