Allspring Global Investments Holdings LLC Has $16.50 Million Stock Holdings in Boyd Gaming Corporation (NYSE:BYD)

Allspring Global Investments Holdings LLC grew its holdings in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) by 23.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 251,145 shares of the company's stock after acquiring an additional 48,321 shares during the period. Allspring Global Investments Holdings LLC owned 0.30% of Boyd Gaming worth $16,503,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Truist Financial Corp increased its position in shares of Boyd Gaming by 20.7% during the fourth quarter. Truist Financial Corp now owns 4,458 shares of the company's stock worth $323,000 after acquiring an additional 765 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Boyd Gaming during the fourth quarter valued at approximately $3,847,000. US Bancorp DE raised its position in shares of Boyd Gaming by 13.6% in the fourth quarter. US Bancorp DE now owns 2,943 shares of the company's stock worth $213,000 after buying an additional 353 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Boyd Gaming by 952.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,969 shares of the company's stock valued at $142,000 after acquiring an additional 1,782 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Boyd Gaming by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 974,973 shares of the company's stock valued at $70,725,000 after buying an additional 3,052 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.

Boyd Gaming Stock Performance

Shares of NYSE:BYD traded up $0.18 during midday trading on Friday, hitting $81.57. The company's stock had a trading volume of 451,233 shares, compared to its average volume of 912,055. Boyd Gaming Corporation has a fifty-two week low of $52.76 and a fifty-two week high of $82.21. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 2.94 and a beta of 1.26. The stock's 50 day simple moving average is $74.71 and its 200 day simple moving average is $72.49. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.76 and a current ratio of 0.80.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.10. The firm had revenue of $991.57 million during the quarter, compared to the consensus estimate of $976.38 million. Boyd Gaming had a net margin of 13.96% and a return on equity of 38.34%. The firm's quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm posted $1.51 EPS. As a group, research analysts anticipate that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Monday, June 16th. Boyd Gaming's payout ratio is currently 11.75%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BYD. Mizuho reduced their target price on Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Stifel Nicolaus increased their target price on Boyd Gaming from $71.00 to $76.00 and gave the company a "hold" rating in a research note on Thursday, June 5th. Raymond James Financial boosted their target price on Boyd Gaming from $81.00 to $85.00 and gave the stock an "outperform" rating in a research report on Monday, June 30th. Susquehanna lifted their target price on shares of Boyd Gaming from $75.00 to $76.00 and gave the stock a "positive" rating in a research report on Friday, April 25th. Finally, Barclays reduced their price target on shares of Boyd Gaming from $78.00 to $73.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $80.38.

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.