Edgestream Partners L.P. cut its stake in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) by 82.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,640 shares of the company's stock after selling 56,260 shares during the quarter. Edgestream Partners L.P.'s holdings in Boyd Gaming were worth $766,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of BYD. Oppenheimer & Co. Inc. acquired a new stake in shares of Boyd Gaming during the 1st quarter worth approximately $598,000. Raymond James Financial Inc. acquired a new position in Boyd Gaming during the 4th quarter worth approximately $43,273,000. Bank of New York Mellon Corp raised its stake in Boyd Gaming by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 692,496 shares of the company's stock worth $45,587,000 after buying an additional 7,400 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Boyd Gaming in the first quarter worth approximately $1,963,000. Finally, SG Americas Securities LLC bought a new position in Boyd Gaming during the 1st quarter valued at $805,000. 76.81% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. JPMorgan Chase & Co. assumed coverage on Boyd Gaming in a research note on Monday, June 23rd. They set a "neutral" rating and a $79.00 price objective on the stock. Barclays raised their price objective on Boyd Gaming from $73.00 to $87.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Truist Financial raised their price objective on Boyd Gaming from $85.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Morgan Stanley restated a "sell" rating on shares of Boyd Gaming in a research note on Friday, July 11th. Finally, Mizuho decreased their price target on Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $84.85.
Check Out Our Latest Analysis on BYD
Boyd Gaming Stock Performance
Shares of Boyd Gaming stock traded up $1.23 during trading hours on Wednesday, reaching $83.49. The company had a trading volume of 1,485,212 shares, compared to its average volume of 950,645. Boyd Gaming Corporation has a one year low of $52.76 and a one year high of $87.76. The business has a fifty day simple moving average of $77.41 and a 200 day simple moving average of $73.35. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.80 and a quick ratio of 0.76. The firm has a market cap of $6.80 billion, a PE ratio of 13.62 and a beta of 1.26.
Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.52 by $0.10. Boyd Gaming had a return on equity of 38.34% and a net margin of 13.96%. The firm had revenue of $991.57 million during the quarter, compared to analyst estimates of $976.38 million. During the same period last year, the company earned $1.51 earnings per share. The business's revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts anticipate that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.
Boyd Gaming Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Monday, June 16th. Boyd Gaming's payout ratio is currently 11.75%.
About Boyd Gaming
(
Free Report)
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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