LPL Financial LLC Has $7.62 Million Stock Holdings in Boyd Gaming Corporation (NYSE:BYD)

LPL Financial LLC lifted its stake in Boyd Gaming Corporation (NYSE:BYD - Free Report) by 3.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 115,799 shares of the company's stock after purchasing an additional 3,543 shares during the quarter. LPL Financial LLC owned 0.14% of Boyd Gaming worth $7,623,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wells Fargo & Company MN raised its stake in shares of Boyd Gaming by 2.7% during the 4th quarter. Wells Fargo & Company MN now owns 54,107 shares of the company's stock worth $3,925,000 after purchasing an additional 1,430 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Boyd Gaming by 6.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 54,856 shares of the company's stock worth $3,979,000 after purchasing an additional 3,138 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Boyd Gaming by 9.8% in the 4th quarter. Bank of Montreal Can now owns 9,079 shares of the company's stock valued at $659,000 after acquiring an additional 813 shares in the last quarter. Invesco Ltd. raised its stake in shares of Boyd Gaming by 27.5% in the 4th quarter. Invesco Ltd. now owns 468,136 shares of the company's stock valued at $33,959,000 after acquiring an additional 101,029 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Boyd Gaming by 398.3% in the 4th quarter. Renaissance Technologies LLC now owns 60,300 shares of the company's stock valued at $4,374,000 after acquiring an additional 48,200 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.

Wall Street Analysts Forecast Growth

BYD has been the topic of a number of recent analyst reports. Raymond James Financial raised their price objective on Boyd Gaming from $81.00 to $85.00 and gave the company an "outperform" rating in a research note on Monday, June 30th. Morgan Stanley reaffirmed a "sell" rating on shares of Boyd Gaming in a research report on Friday, July 11th. Mizuho lifted their price objective on Boyd Gaming from $86.00 to $89.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. 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. Finally, Macquarie boosted their price target on Boyd Gaming from $74.00 to $88.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Boyd Gaming currently has an average rating of "Hold" and an average price target of $86.62.

Boyd Gaming Trading Down 0.5%

NYSE BYD traded down $0.46 on Thursday, reaching $83.87. The company had a trading volume of 546,041 shares, compared to its average volume of 1,064,756. The stock's 50 day moving average is $80.41 and its 200-day moving average is $74.48. The stock has a market cap of $6.72 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 2.36 and a beta of 1.24. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.53. Boyd Gaming Corporation has a 52 week low of $57.06 and a 52 week high of $87.76.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced 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. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $976.81 million. During the same period in the prior year, the company earned $1.58 earnings per share. The company's revenue for the quarter was up 6.9% compared to the same quarter last year. Equities 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. Shareholders of record on Monday, September 15th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.9%. Boyd Gaming's payout ratio is currently 11.08%.

Insider Buying and Selling at Boyd Gaming

In related news, COO Ted Bogich sold 16,497 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $83.18, for a total transaction of $1,372,220.46. Following the completion of the transaction, the chief operating officer directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William R. Boyd sold 9,774 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $81.61, for a total value of $797,656.14. Following the transaction, the director directly owned 15,188 shares of the company's stock, valued at $1,239,492.68. This trade represents a 39.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,403 shares of company stock worth $3,757,196. Insiders own 27.94% of the company's stock.

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.