Eisler Capital Management Ltd. Acquires New Stake in Boyd Gaming Corporation $BYD

Key Points

• Eisler Capital Management Ltd. has invested $225,000 in Boyd Gaming Corporation by purchasing 3,417 shares, indicating institutional interest in the company's stock.
• Insiders sold a total of 285,438 shares of Boyd Gaming stock worth approximately $24 million over the past 90 days, reflecting a notable decrease in their ownership positions.
• Boyd Gaming's recent earnings report showed higher-than-expected EPS of $1.87 and revenue growth of 6.9% year-over-year, surpassing analysts' estimates.

Eisler Capital Management Ltd. acquired a new position in Boyd Gaming Corporation (NYSE:BYD - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,417 shares of the company's stock, valued at approximately $225,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CoreCap Advisors LLC boosted its holdings in shares of Boyd Gaming by 91.0% in the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock worth $42,000 after purchasing an additional 273 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Boyd Gaming by 68.0% in the 1st quarter. GAMMA Investing LLC now owns 773 shares of the company's stock worth $51,000 after purchasing an additional 313 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Boyd Gaming by 156.0% in the 1st quarter. UMB Bank n.a. now owns 1,006 shares of the company's stock worth $66,000 after purchasing an additional 613 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Boyd Gaming by 28.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,210 shares of the company's stock worth $80,000 after purchasing an additional 265 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Boyd Gaming by 76.9% in the 1st quarter. Golden State Wealth Management LLC now owns 1,636 shares of the company's stock worth $108,000 after purchasing an additional 711 shares in the last quarter. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Boyd Gaming

In other news, Chairman Marianne Boyd Johnson sold 100,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $84.17, for a total value of $8,417,000.00. Following the completion of the transaction, the chairman owned 1,504,379 shares of the company's stock, valued at approximately $126,623,580.43. This represents a 6.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value 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 $3,752,748.88. This represents a 26.78% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 285,438 shares of company stock worth $23,976,085. 21.97% of the stock is owned by insiders.

Boyd Gaming Trading Down 1.1%

Shares of BYD stock traded down $0.95 during trading hours on Friday, reaching $85.91. The company's stock had a trading volume of 1,046,573 shares, compared to its average volume of 999,217. The stock has a market capitalization of $6.89 billion, a P/E ratio of 13.22, a P/E/G ratio of 2.43 and a beta of 1.23. Boyd Gaming Corporation has a one year low of $57.67 and a one year high of $87.83. The firm's fifty day simple moving average is $82.82 and its 200 day simple moving average is $75.09. 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, topping 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 firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $976.81 million. During the same period last year, the company earned $1.58 EPS. The business's quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts expect that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a $0.18 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. Boyd Gaming's dividend payout ratio is currently 11.08%.

Analyst Ratings Changes

Several brokerages recently weighed in on BYD. Macquarie increased their target price on Boyd Gaming from $74.00 to $88.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Raymond James Financial increased their target price on Boyd Gaming from $81.00 to $85.00 and gave the company an "outperform" rating in a report on Monday, June 30th. Morgan Stanley restated a "sell" rating on shares of Boyd Gaming in a report on Friday, July 11th. Truist Financial increased their target price on Boyd Gaming from $85.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Mizuho increased their target price on Boyd Gaming from $86.00 to $89.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $86.62.

Boyd Gaming Company 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.