Campbell & CO Investment Adviser LLC Invests $2.63 Million in Boyd Gaming Corporation $BYD

Key Points

• Campbell & CO Investment Adviser LLC acquired 39,972 shares of Boyd Gaming Corporation, valued at approximately $2.63 million, in the first quarter.
• Analysts have set a consensus price target of $86.62 for Boyd Gaming, with seven analysts rating it as a Buy, and one as a Sell.
• The company plans to distribute a quarterly dividend of $0.18 per share, with an ex-dividend date set for September 15th.

Campbell & CO Investment Adviser LLC acquired a new position in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 39,972 shares of the company's stock, valued at approximately $2,631,000.

A number of other institutional investors have also recently added to or reduced their stakes in BYD. CoreCap Advisors LLC lifted its holdings in shares of Boyd Gaming by 91.0% in the fourth quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock valued at $42,000 after purchasing an additional 273 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Boyd Gaming by 68.0% in the first quarter. GAMMA Investing LLC now owns 773 shares of the company's stock valued at $51,000 after purchasing an additional 313 shares during the last quarter. UMB Bank n.a. grew its position in shares of Boyd Gaming by 156.0% in the first 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 during the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Boyd Gaming by 28.0% in the first 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 during the last quarter. Finally, Golden State Wealth Management LLC grew its position in shares of Boyd Gaming by 76.9% in the first 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 during the last quarter. Hedge funds and other institutional investors own 76.81% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BYD shares. 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. Stifel Nicolaus upped their price target on shares of Boyd Gaming from $87.00 to $90.00 and gave the stock a "hold" rating in a research report on Friday, July 25th. Morgan Stanley reiterated a "sell" rating on shares of Boyd Gaming in a research note on Friday, July 11th. Truist Financial boosted their price objective on shares of Boyd Gaming from $85.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, Macquarie upped their target price on shares of Boyd Gaming from $74.00 to $88.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Boyd Gaming currently has a consensus rating of "Hold" and a consensus target price of $86.62.

Boyd Gaming Stock Performance

NYSE:BYD traded down $0.33 during mid-day trading on Thursday, hitting $86.95. The stock had a trading volume of 629,059 shares, compared to its average volume of 1,051,583. The stock has a market capitalization of $6.97 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 2.45 and a beta of 1.24. The company has a 50 day simple moving average of $82.41 and a 200-day simple moving average of $75.01. Boyd Gaming Corporation has a 52 week low of $57.67 and a 52 week high of $87.83. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.20. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate 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 firm posted $1.58 EPS. On average, research analysts expect that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.72 annualized dividend and a yield of 0.8%. Boyd Gaming's dividend payout ratio (DPR) is presently 11.08%.

Insider Activity

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 transaction, the chief executive officer owned 1,096,689 shares of the company's stock, valued at approximately $91,123,889.01. This trade represents a 4.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction, the chief operating officer directly owned 45,116 shares in the company, valued at approximately $3,752,748.88. The trade was a 26.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 285,438 shares of company stock worth $23,976,085 in the last 90 days. 27.94% of the stock is currently owned by corporate insiders.

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.