16,541 Shares in Boyd Gaming Corporation $BYD Acquired by 44 Wealth Management LLC

Key Points

• 44 Wealth Management LLC initiated a new position in Boyd Gaming, purchasing 16,541 shares in Q3 worth approximately $1.43 million, according to the latest 13F filing.
• Boyd Gaming beat quarterly expectations with $2.21 EPS vs. $1.88 est. and revenue of $1.06 billion vs. $1.02 billion, reflecting strong margins (net margin 45.05% and ROE 30.14%).
• Insiders sold a total of 73,454 shares (~$6.23 million) over the last quarter—including large sales by Stephen S. Thompson and CFO Josh Hirsberg—although insiders still own about 27.94% of the stock.

44 Wealth Management LLC purchased a new position in Boyd Gaming Corporation (NYSE:BYD - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,541 shares of the company's stock, valued at approximately $1,430,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Boyd Gaming by 219.8% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company's stock valued at $29,000 after buying an additional 255 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Boyd Gaming during the 2nd quarter valued at approximately $39,000. True Wealth Design LLC boosted its position in shares of Boyd Gaming by 162.1% in the third quarter. True Wealth Design LLC now owns 532 shares of the company's stock worth $46,000 after purchasing an additional 329 shares during the period. Advisors Asset Management Inc. boosted its holdings in Boyd Gaming by 56.8% in 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. Finally, SJS Investment Consulting Inc. purchased a new stake in shares of Boyd Gaming during the third quarter worth about $48,000. Institutional investors own 76.81% of the company's stock.

Boyd Gaming Price Performance

NYSE BYD opened at $81.62 on Friday. The firm's fifty day simple moving average is $84.44 and its two-hundred day simple moving average is $83.67. Boyd Gaming Corporation has a 12-month low of $58.94 and a 12-month high of $89.96. The firm has a market capitalization of $6.16 billion, a P/E ratio of 3.59, a P/E/G ratio of 1.72 and a beta of 1.20. The company has a current ratio of 0.54, a quick ratio of 0.52 and a debt-to-equity ratio of 0.78.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.33. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Boyd Gaming had a return on equity of 30.14% and a net margin of 45.05%.The company's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $1.96 earnings per share. Analysts forecast that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be paid a $0.20 dividend. This is a positive change from Boyd Gaming's previous quarterly dividend of $0.18. The ex-dividend date is Monday, March 16th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Boyd Gaming's dividend payout ratio (DPR) is 3.16%.

Insider Buying and Selling

In other Boyd Gaming news, insider Stephen S. Thompson sold 19,530 shares of the company's stock in a transaction on Friday, February 27th. The shares were sold at an average price of $83.59, for a total value of $1,632,512.70. Following the sale, the insider directly owned 22,009 shares of the company's stock, valued at approximately $1,839,732.31. This represents a 47.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Josh Hirsberg sold 23,924 shares of the company's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $85.86, for a total value of $2,054,114.64. Following the completion of the sale, the chief financial officer owned 435,746 shares in the company, valued at $37,413,151.56. The trade was a 5.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 73,454 shares of company stock valued at $6,231,827 over the last quarter. 27.94% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BYD. Mizuho set a $100.00 target price on shares of Boyd Gaming in a research note on Monday, February 2nd. Morgan Stanley set a $86.00 price target on Boyd Gaming in a report on Wednesday, February 11th. Truist Financial set a $110.00 price objective on shares of Boyd Gaming in a research note on Tuesday, January 13th. Jefferies Financial Group reiterated a "buy" rating on shares of Boyd Gaming in a research report on Wednesday, December 24th. Finally, UBS Group set a $110.00 price target on Boyd Gaming in a report on Wednesday, December 24th. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $92.58.

Boyd Gaming Profile

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.

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