77,331 Shares in Boyd Gaming Corporation $BYD Purchased by Landscape Capital Management L.L.C.

Key Points

• Landscape Capital Management L.L.C. has purchased 77,331 shares of Boyd Gaming Corporation for approximately $5.09 million, indicating strong interest from institutional investors, as hedge funds own 76.81% of the stock.
• Boyd Gaming reported earnings of $1.87 per share for the last quarter, exceeding analysts' expectations, with revenue up 6.9% year-over-year at $1.03 billion.
• The company announced a quarterly dividend of $0.18 per share, yielding around 0.8%, to be paid on October 15th.

Landscape Capital Management L.L.C. bought a new stake in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 77,331 shares of the company's stock, valued at approximately $5,091,000. Landscape Capital Management L.L.C. owned about 0.09% of Boyd Gaming at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BYD. Seven Six Capital Management LLC acquired a new position in shares of Boyd Gaming in the fourth quarter worth about $9,162,000. Victory Capital Management Inc. lifted its position in Boyd Gaming by 13.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company's stock worth $69,036,000 after buying an additional 122,822 shares in the last quarter. J. Goldman & Co LP purchased a new stake in Boyd Gaming in the 4th quarter worth approximately $8,359,000. Northern Trust Corp lifted its position in Boyd Gaming by 14.2% in the 1st quarter. Northern Trust Corp now owns 682,518 shares of the company's stock worth $44,930,000 after buying an additional 85,087 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in Boyd Gaming in the 1st quarter worth approximately $5,329,000. 76.81% of the stock is owned by institutional investors and hedge funds.

Boyd Gaming Price Performance

NYSE:BYD traded down $0.95 on Monday, reaching $85.91. The stock had a trading volume of 1,046,573 shares, compared to its average volume of 999,217. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.53. The company has a market capitalization of $6.89 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 2.43 and a beta of 1.23. The stock has a fifty day moving average price of $82.82 and a 200-day moving average price of $75.09. Boyd Gaming Corporation has a 1-year low of $57.67 and a 1-year high of $87.83.

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

Boyd Gaming Announces Dividend

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

Analyst Ratings Changes

BYD has been the topic of several analyst reports. Raymond James Financial increased their price target on shares of Boyd Gaming from $81.00 to $85.00 and gave the stock an "outperform" rating in a research note on Monday, June 30th. Truist Financial increased their price target on shares of Boyd Gaming from $85.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Mizuho increased their price target on shares of Boyd Gaming from $86.00 to $89.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Susquehanna lowered shares of Boyd Gaming from a "positive" rating to a "neutral" rating and raised their target price for the company from $76.00 to $86.00 in a research note on Friday, July 11th. Finally, Morgan Stanley reiterated a "sell" rating on shares of Boyd Gaming in a research note on Friday, July 11th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $86.62.

Insider Buying and Selling

In related news, COO Ted Bogich sold 16,497 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $83.18, for a total transaction of $1,372,220.46. Following the completion of the transaction, the chief operating officer owned 45,116 shares in the company, valued at approximately $3,752,748.88. This represents a 26.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 100,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $84.17, for a total transaction of $8,417,000.00. Following the transaction, the chairman owned 1,504,379 shares of the company's stock, valued at $126,623,580.43. The trade was a 6.23% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 285,438 shares of company stock valued at $23,976,085. 21.97% of the stock is owned by corporate insiders.

About Boyd Gaming

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.