Beacon Financial Group Decreases Position in Boyd Gaming Co. (NYSE:BYD)

Beacon Financial Group trimmed its holdings in Boyd Gaming Co. (NYSE:BYD - Free Report) by 29.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,312 shares of the company's stock after selling 3,800 shares during the quarter. Beacon Financial Group's holdings in Boyd Gaming were worth $613,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BYD. CoreCap Advisors LLC grew its stake in 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 purchasing an additional 273 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Boyd Gaming during the 4th quarter valued at $67,000. Investment Counsel Co. of Nevada purchased a new stake in shares of Boyd Gaming during the 4th quarter valued at $73,000. Allworth Financial LP raised its stake in Boyd Gaming by 2,735.1% in the 4th 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. Finally, Atlas Capital Advisors Inc. purchased a new position in Boyd Gaming in the 4th quarter worth $109,000. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. JMP Securities reiterated a "market perform" rating on shares of Boyd Gaming in a research note on Friday, February 7th. Stifel Nicolaus boosted their price objective on Boyd Gaming from $71.00 to $76.00 and gave the stock a "hold" rating in a research note on Thursday. Barclays cut their price objective on Boyd Gaming from $78.00 to $73.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley lowered their target price on Boyd Gaming from $75.00 to $72.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Truist Financial lowered their target price on Boyd Gaming from $92.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $80.08.

Boyd Gaming Stock Down 0.7%

Shares of NYSE BYD opened at $73.21 on Friday. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 4.46 and a beta of 1.32. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. Boyd Gaming Co. has a 52-week low of $51.62 and a 52-week high of $80.50. The business's 50 day moving average is $69.55 and its two-hundred day moving average is $72.01.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.52 by $0.10. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. The business had revenue of $991.57 million for the quarter, compared to analyst estimates of $976.38 million. During the same quarter in the prior year, the company earned $1.51 earnings per share. The company's revenue was up 3.2% on a year-over-year basis. Research analysts predict that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.98%. The ex-dividend date is Monday, June 16th. Boyd Gaming's dividend payout ratio (DPR) is presently 11.75%.

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.

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