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Boyd Gaming Corporation (NYSE:BYD) Position Boosted by Envestnet Asset Management Inc.

Boyd Gaming logo with Consumer Discretionary background

Key Points

  • Envestnet Asset Management Inc. increased its stake in Boyd Gaming Corporation by 13.5%, acquiring an additional 7,408 shares, bringing its total ownership to 62,264 shares valued at approximately $4.1 million.
  • Boyd Gaming's recent quarterly earnings exceeded expectations with an EPS of $1.87, surpassing the consensus estimate of $1.67, and revenue reaching $1.03 billion.
  • The company also declared a quarterly dividend of $0.18 per share, which reflects a dividend yield of 0.84% and a low payout ratio of 11.75%.
  • MarketBeat previews the top five stocks to own by September 1st.

Envestnet Asset Management Inc. raised its holdings in Boyd Gaming Corporation (NYSE:BYD - Free Report) by 13.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 62,264 shares of the company's stock after acquiring an additional 7,408 shares during the period. Envestnet Asset Management Inc. owned 0.08% of Boyd Gaming worth $4,099,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BYD. Avantax Advisory Services Inc. acquired a new position in Boyd Gaming in the 4th quarter valued at $205,000. LPL Financial LLC raised its holdings in Boyd Gaming by 274.2% in the 4th quarter. LPL Financial LLC now owns 112,256 shares of the company's stock valued at $8,143,000 after acquiring an additional 82,258 shares during the last quarter. Norges Bank acquired a new position in Boyd Gaming in the 4th quarter valued at $55,553,000. New Age Alpha Advisors LLC acquired a new position in Boyd Gaming in the 4th quarter valued at $1,074,000. Finally, Pictet Asset Management Holding SA raised its holdings in Boyd Gaming by 9.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 12,811 shares of the company's stock valued at $929,000 after acquiring an additional 1,120 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Boyd Gaming Stock Down 1.0%

NYSE:BYD traded down $0.88 on Tuesday, reaching $85.48. The stock had a trading volume of 155,450 shares, compared to its average volume of 1,049,995. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 2.57. The company has a 50-day moving average of $78.13 and a 200 day moving average of $73.70. The stock has a market cap of $6.96 billion, a P/E ratio of 13.20 and a beta of 1.26. Boyd Gaming Corporation has a 12-month low of $52.76 and a 12-month high of $87.76.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates of $1.67 by $0.20. Boyd Gaming had a net margin of 14.02% and a return on equity of 39.81%. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $976.81 million. During the same period in the prior year, the company posted $1.58 EPS. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. On average, research analysts predict that Boyd Gaming Corporation will post 6.52 earnings per share for the current 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 given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.72 annualized dividend and a dividend yield of 0.84%. Boyd Gaming's payout ratio is 11.08%.

Analyst Ratings Changes

A number of research firms have recently commented on BYD. Mizuho upped their price objective on Boyd Gaming from $86.00 to $89.00 and gave the stock an "outperform" rating in a report on Friday. Macquarie upped their price objective on Boyd Gaming from $74.00 to $88.00 and gave the stock a "neutral" rating in a report on Monday. JPMorgan Chase & Co. assumed coverage on Boyd Gaming in a report on Monday, June 23rd. They set a "neutral" rating and a $79.00 price objective for the company. 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. Finally, Susquehanna cut shares of Boyd Gaming from a "positive" rating to a "neutral" rating and upped their price target for the stock from $76.00 to $86.00 in a research report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $86.62.

Check Out Our Latest Report on Boyd Gaming

Boyd Gaming Profile

(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.

See Also

Institutional Ownership by Quarter for Boyd Gaming (NYSE:BYD)

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