Gotham Asset Management LLC Buys 97,703 Shares of Boyd Gaming Corporation $BYD

Key Points

• Gotham Asset Management LLC increased its shareholding in Boyd Gaming Corporation by 39.2%, owning a total of 346,787 shares valued at approximately $22.8 million.
• Boyd Gaming reported an EPS of $1.87 for the recent quarter, exceeding analyst estimates of $1.67, and its quarterly revenue was $1.03 billion, reflecting a 6.9% increase year-over-year.
• The company announced a quarterly dividend of $0.18 per share, with an annualized yield of 0.8%, payable on October 15th to shareholders recorded as of September 15th.

Gotham Asset Management LLC increased its holdings in Boyd Gaming Corporation (NYSE:BYD - Free Report) by 39.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 346,787 shares of the company's stock after purchasing an additional 97,703 shares during the period. Gotham Asset Management LLC owned approximately 0.43% of Boyd Gaming worth $22,829,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in BYD. Seven Six Capital Management LLC purchased a new stake in shares of Boyd Gaming in the 4th quarter valued at $9,162,000. Victory Capital Management Inc. boosted its position in Boyd Gaming by 13.3% during the 1st quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company's stock valued at $69,036,000 after buying an additional 122,822 shares during the period. J. Goldman & Co LP purchased a new stake in Boyd Gaming during the 4th quarter valued at $8,359,000. Northern Trust Corp boosted its position in Boyd Gaming by 14.2% during the 1st quarter. Northern Trust Corp now owns 682,518 shares of the company's stock valued at $44,930,000 after buying an additional 85,087 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in Boyd Gaming during the 1st quarter valued at $5,329,000. Hedge funds and other institutional investors own 76.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BYD. Morgan Stanley reissued a "sell" rating on shares of Boyd Gaming in a research report on Friday, July 11th. Truist Financial increased their price target on shares of Boyd Gaming from $85.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Mizuho increased their price target on shares of Boyd Gaming from $86.00 to $89.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Macquarie increased their price target on shares of Boyd Gaming from $74.00 to $88.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Finally, Barclays increased their price target on shares of Boyd Gaming from $73.00 to $87.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Boyd Gaming currently has an average rating of "Hold" and a consensus price target of $86.62.

Boyd Gaming Stock Down 1.1%

Shares of Boyd Gaming stock traded down $0.94 during trading on Tuesday, hitting $85.40. The company's stock had a trading volume of 682,827 shares, compared to its average volume of 1,042,442. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86. The company has a fifty day simple moving average of $83.77 and a two-hundred day simple moving average of $75.40. The company has a market capitalization of $6.85 billion, a PE ratio of 13.14, a P/E/G ratio of 2.44 and a beta of 1.23. Boyd Gaming Corporation has a 52 week low of $57.67 and a 52 week high of $87.83.

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

Boyd Gaming Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid 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 (DPR) is presently 11.08%.

Insider Buying and Selling

In other Boyd Gaming news, CEO Keith Smith sold 50,000 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $83.09, for a total transaction of $4,154,500.00. Following the completion of the sale, the chief executive officer directly owned 1,096,689 shares in the company, valued at approximately $91,123,889.01. This trade represents a 4.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Ted Bogich sold 16,497 shares of the firm's stock in a transaction dated 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 sale, the chief operating officer owned 45,116 shares of the company's stock, valued at approximately $3,752,748.88. This represents a 26.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 385,438 shares of company stock worth $32,638,085 over the last 90 days. Corporate 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.