Edgestream Partners L.P. Decreases Stock Holdings in Boyd Gaming Corporation (NYSE:BYD)

Edgestream Partners L.P. lowered its stake in Boyd Gaming Corporation (NYSE:BYD - Free Report) by 82.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,640 shares of the company's stock after selling 56,260 shares during the period. Edgestream Partners L.P.'s holdings in Boyd Gaming were worth $766,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. CoreCap Advisors LLC grew its position 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 during the period. GAMMA Investing LLC grew its holdings 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 period. UMB Bank n.a. raised its stake in Boyd Gaming by 156.0% during the first quarter. UMB Bank n.a. now owns 1,006 shares of the company's stock worth $66,000 after purchasing an additional 613 shares during the period. Investment Counsel Co. of Nevada purchased a new stake in Boyd Gaming in the 4th quarter valued at about $73,000. Finally, Golden State Wealth Management LLC boosted its holdings in Boyd Gaming by 76.9% during the 1st quarter. Golden State Wealth Management LLC now owns 1,636 shares of the company's stock valued at $108,000 after acquiring an additional 711 shares during the period. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Susquehanna lowered shares of Boyd Gaming from a "positive" rating to a "neutral" rating and lifted their price target for the stock from $76.00 to $86.00 in a research note on Friday, July 11th. Mizuho reduced their price target on shares of Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley reaffirmed a "sell" rating on shares of Boyd Gaming in a report on Friday, July 11th. Truist Financial increased 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, 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 note on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Boyd Gaming has an average rating of "Hold" and an average price target of $84.85.

Boyd Gaming Price Performance

Shares of NYSE BYD traded down $0.79 during midday trading on Tuesday, reaching $81.77. The company's stock had a trading volume of 442,921 shares, compared to its average volume of 945,355. The company has a market cap of $6.66 billion, a P/E ratio of 13.32 and a beta of 1.26. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.76 and a current ratio of 0.80. The business's 50 day moving average price is $77.11 and its two-hundred day moving average price is $73.22. Boyd Gaming Corporation has a fifty-two week low of $52.76 and a fifty-two week high of $87.76.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.10. Boyd Gaming had a net margin of 13.96% and a return on equity of 38.34%. The firm had revenue of $991.57 million during the quarter, compared to analyst estimates of $976.38 million. During the same quarter last year, the business earned $1.51 EPS. The company's revenue was up 3.2% compared to the same quarter last year. On average, analysts forecast that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The company 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 0.88%. The ex-dividend date was Monday, June 16th. Boyd Gaming's payout ratio is 11.75%.

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.