Counterpoint Mutual Funds LLC Acquires New Position in Boyd Gaming Corporation $BYD

Key Points

• Counterpoint Mutual Funds LLC has acquired a new position in Boyd Gaming Corporation, purchasing 5,142 shares valued at approximately $402,000 during the second quarter.
• In recent analyst reports, Boyd Gaming's target price has been raised by several firms, with Barclays increasing it from $73.00 to $87.00, and Mizuho raising it from $86.00 to $89.00.
• The company recently declared a quarterly dividend of $0.18 per share, with an annualized dividend yield of 0.8%, payable on October 15th to shareholders of record on September 15th.

Counterpoint Mutual Funds LLC purchased a new stake in Boyd Gaming Corporation (NYSE:BYD - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,142 shares of the company's stock, valued at approximately $402,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Boyd Gaming by 24.2% during the second quarter. GAMMA Investing LLC now owns 960 shares of the company's stock worth $75,000 after purchasing an additional 187 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Boyd Gaming by 294.6% in the second quarter. Farther Finance Advisors LLC now owns 3,066 shares of the company's stock valued at $240,000 after buying an additional 2,289 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Boyd Gaming by 4.5% in the 2nd quarter. Exchange Traded Concepts LLC now owns 15,202 shares of the company's stock valued at $1,189,000 after buying an additional 650 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Boyd Gaming by 11.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,264 shares of the company's stock valued at $348,000 after purchasing an additional 441 shares during the last quarter. Finally, Aaron Wealth Advisors LLC grew its stake in Boyd Gaming by 8.8% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 4,282 shares of the company's stock valued at $335,000 after purchasing an additional 348 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BYD has been the topic of a number of recent analyst reports. Barclays upped their target price on Boyd Gaming from $73.00 to $87.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Susquehanna cut shares of Boyd Gaming from a "positive" rating to a "neutral" rating and increased their price target for the stock from $76.00 to $86.00 in a research report on Friday, July 11th. Stifel Nicolaus boosted their price objective on Boyd Gaming from $87.00 to $90.00 and gave the company a "hold" rating in a report on Friday, July 25th. Raymond James Financial restated an "outperform" rating on shares of Boyd Gaming in a research note on Monday, September 8th. Finally, Mizuho lifted their target price on Boyd Gaming from $86.00 to $89.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $87.83.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, CEO Keith Smith sold 25,000 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $85.21, for a total transaction of $2,130,250.00. Following the completion of the transaction, the chief executive officer directly owned 1,046,689 shares of the company's stock, valued at $89,188,369.69. The trade was a 2.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Marianne Boyd Johnson sold 100,000 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $86.62, for a total transaction of $8,662,000.00. Following the completion of the sale, the chairman owned 1,704,379 shares in the company, valued at $147,633,308.98. The trade was a 5.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 385,438 shares of company stock worth $32,638,085 over the last 90 days. Corporate insiders own 21.97% of the company's stock.

Boyd Gaming Stock Up 1.9%

Shares of Boyd Gaming stock opened at $85.03 on Wednesday. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 2.36 and a beta of 1.23. Boyd Gaming Corporation has a twelve month low of $58.94 and a twelve month 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. The business's 50 day simple moving average is $84.26 and its 200-day simple moving average is $76.16.

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

Boyd Gaming Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, September 15th. Boyd Gaming's dividend payout ratio (DPR) is 11.08%.

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.

Want to see what other hedge funds are holding BYD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boyd Gaming Corporation (NYSE:BYD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.