Assenagon Asset Management S.A. bought a new position in Boyd Gaming Corporation (NYSE:BYD - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 29,815 shares of the company's stock, valued at approximately $1,963,000.
Other hedge funds also recently made changes to their positions in the company. CoreCap Advisors LLC lifted its position in shares of Boyd Gaming by 91.0% in the fourth quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock worth $42,000 after buying an additional 273 shares in the last quarter. GAMMA Investing LLC increased its stake in Boyd Gaming by 68.0% during the first quarter. GAMMA Investing LLC now owns 773 shares of the company's stock worth $51,000 after acquiring an additional 313 shares during the last quarter. UMB Bank n.a. increased its stake in Boyd Gaming by 156.0% during the first quarter. UMB Bank n.a. now owns 1,006 shares of the company's stock worth $66,000 after acquiring an additional 613 shares during the last quarter. Investment Counsel Co. of Nevada bought a new stake in Boyd Gaming during the fourth quarter worth approximately $73,000. Finally, Allworth Financial LP increased its stake in Boyd Gaming by 2,735.1% during the fourth quarter. Allworth Financial LP now owns 1,049 shares of the company's stock worth $79,000 after acquiring an additional 1,012 shares during the last quarter. 76.81% of the stock is currently owned by hedge funds and other institutional investors.
Boyd Gaming Trading Up 1.1%
NYSE:BYD traded up $0.82 during midday trading on Thursday, hitting $76.07. The stock had a trading volume of 885,291 shares, compared to its average volume of 926,116. Boyd Gaming Corporation has a one year low of $51.62 and a one year high of $80.50. The company has a market capitalization of $6.19 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 0.97 and a beta of 1.26. The stock has a 50-day moving average of $71.48 and a 200 day moving average of $72.14. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 2.57.
Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.10. Boyd Gaming had a return on equity of 38.34% and a net margin of 13.96%. The company had revenue of $991.57 million for the quarter, compared to analysts' expectations of $976.38 million. During the same quarter in the prior year, the firm earned $1.51 earnings per share. Boyd Gaming's revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Boyd Gaming Corporation will post 6.52 EPS for the current year.
Boyd Gaming Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, June 16th. This represents a $0.72 dividend on an annualized basis and a yield of 0.95%. Boyd Gaming's dividend payout ratio is currently 11.75%.
Wall Street Analyst Weigh In
Several brokerages have weighed in on BYD. Susquehanna boosted their price objective on Boyd Gaming from $75.00 to $76.00 and gave the stock a "positive" rating in a research note on Friday, April 25th. Morgan Stanley reduced their price objective on Boyd Gaming from $75.00 to $72.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Truist Financial reduced their price objective on Boyd Gaming from $92.00 to $85.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Macquarie reissued a "neutral" rating and set a $74.00 price objective on shares of Boyd Gaming in a research note on Friday, April 25th. Finally, Stifel Nicolaus upped 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. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $80.08.
Get Our Latest Research Report on Boyd Gaming
Boyd Gaming Profile
(
Free Report)
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.
Further Reading
Before you consider Boyd Gaming, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Boyd Gaming wasn't on the list.
While Boyd Gaming currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
