Boyd Gaming Corporation $BYD Shares Purchased by Aptus Capital Advisors LLC

Key Points

• Aptus Capital Advisors LLC increased its holdings in Boyd Gaming Corporation by 12.7%, owning 94,781 shares valued at approximately $6.24 million after acquiring additional shares in the 1st quarter.
• Insider selling occurred, with Chairman Marianne Boyd Johnson and COO Ted Bogich selling significant shares, resulting in a 6.23% and 26.78% decrease in their ownership respectively.
• Boyd Gaming recently announced a quarterly dividend of $0.18 per share, reflecting an annualized yield of 0.9%.

Aptus Capital Advisors LLC raised its stake in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) by 12.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 94,781 shares of the company's stock after buying an additional 10,714 shares during the period. Aptus Capital Advisors LLC owned about 0.12% of Boyd Gaming worth $6,239,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BYD. CoreCap Advisors LLC raised its stake in shares of Boyd Gaming by 91.0% during the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock valued at $42,000 after buying an additional 273 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Boyd Gaming by 68.0% in the 1st quarter. GAMMA Investing LLC now owns 773 shares of the company's stock valued at $51,000 after purchasing an additional 313 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Boyd Gaming by 156.0% in the 1st quarter. UMB Bank n.a. now owns 1,006 shares of the company's stock valued at $66,000 after purchasing an additional 613 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Boyd Gaming by 28.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,210 shares of the company's stock valued at $80,000 after purchasing an additional 265 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its stake in shares of Boyd Gaming by 76.9% in the 1st quarter. Golden State Wealth Management LLC now owns 1,636 shares of the company's stock valued at $108,000 after purchasing an additional 711 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company's stock.

Boyd Gaming Trading Up 2.7%

BYD traded up $2.2750 during trading hours on Friday, reaching $85.5750. The company's stock had a trading volume of 704,901 shares, compared to its average volume of 1,181,805. Boyd Gaming Corporation has a fifty-two week low of $57.67 and a fifty-two week high of $87.76. The stock has a market cap of $6.86 billion, a PE ratio of 13.17, a P/E/G ratio of 2.42 and a beta of 1.24. The business's 50-day moving average is $81.73 and its 200-day moving average is $74.80. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.86 and a quick ratio of 0.82.

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

Boyd Gaming Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently weighed in on BYD. JPMorgan Chase & Co. began coverage on Boyd Gaming in a research note on Monday, June 23rd. They issued a "neutral" rating and a $79.00 price target for the company. Truist Financial lifted their price objective on Boyd Gaming from $85.00 to $100.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Susquehanna cut Boyd Gaming from a "positive" rating to a "neutral" rating and lifted their price objective for the stock from $76.00 to $86.00 in a report on Friday, July 11th. Morgan Stanley restated a "sell" rating on shares of Boyd Gaming in a report on Friday, July 11th. Finally, Barclays boosted their target price on Boyd Gaming from $73.00 to $87.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Boyd Gaming currently has an average rating of "Hold" and an average target price of $86.62.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, CEO Keith Smith sold 25,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $85.21, for a total transaction of $2,130,250.00. Following the transaction, the chief executive officer owned 1,046,689 shares of the company's stock, valued at approximately $89,188,369.69. This trade represents a 2.33% 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, Director William R. Boyd sold 9,774 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $81.61, for a total transaction of $797,656.14. Following the sale, the director owned 15,188 shares of the company's stock, valued at $1,239,492.68. This trade represents a 39.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 245,403 shares of company stock valued at $20,556,696. Insiders own 27.94% of the company's stock.

Boyd Gaming Company 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.