Gamco Investors INC. ET AL Cuts Stake in Boyd Gaming Corporation $BYD

Key Points

• Gamco Investors cut its Boyd Gaming stake by 28.1% in the first quarter, selling 71,350 shares and leaving it with 182,550 shares valued at about $15.0 million.
• Boyd Gaming beat earnings expectations in its latest quarter, reporting EPS of $1.93 versus the $1.89 consensus, though revenue of $1.03 billion came in slightly below forecasts.
• The company also continued returning capital to shareholders through a quarterly dividend and a $500 million share repurchase program, while analysts currently keep a consensus Hold rating on the stock.

Gamco Investors INC. ET AL lowered its stake in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) by 28.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,550 shares of the company's stock after selling 71,350 shares during the period. Gamco Investors INC. ET AL owned 0.25% of Boyd Gaming worth $15,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of Boyd Gaming by 23.0% during the first quarter. Blue Trust Inc. now owns 653 shares of the company's stock worth $54,000 after acquiring an additional 122 shares during the last quarter. Assetmark Inc. lifted its stake in Boyd Gaming by 9.1% in the 1st quarter. Assetmark Inc. now owns 1,553 shares of the company's stock worth $128,000 after purchasing an additional 129 shares in the last quarter. Optas LLC lifted its stake in Boyd Gaming by 4.1% in the 1st quarter. Optas LLC now owns 3,486 shares of the company's stock worth $286,000 after purchasing an additional 138 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in Boyd Gaming by 24.5% in the 4th quarter. TD Private Client Wealth LLC now owns 854 shares of the company's stock worth $73,000 after purchasing an additional 168 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Boyd Gaming by 56.8% during the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company's stock valued at $36,000 after purchasing an additional 196 shares during the last quarter. Hedge funds and other institutional investors own 76.81% of the company's stock.

Boyd Gaming Price Performance

BYD stock opened at $87.18 on Friday. Boyd Gaming Corporation has a 52 week low of $76.33 and a 52 week high of $91.00. The firm has a market capitalization of $6.48 billion, a P/E ratio of 3.84, a price-to-earnings-growth ratio of 2.06 and a beta of 1.07. The company has a fifty day simple moving average of $85.83 and a two-hundred day simple moving average of $84.86. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.90.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.04. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.29%. The business's quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.87 EPS. Analysts anticipate that Boyd Gaming Corporation will post 7.21 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 15th. Boyd Gaming's payout ratio is presently 3.52%.

Boyd Gaming announced that its Board of Directors has initiated a share repurchase program on Thursday, April 23rd that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Key Headlines Impacting Boyd Gaming

Here are the key news stories impacting Boyd Gaming this week:

• Positive Sentiment: Boyd Gaming beat earnings expectations with Q2 EPS of $1.93 versus the consensus estimate, which suggests stronger profitability than analysts anticipated. Boyd Gaming (BYD) Q2 Earnings and Revenues Beat Estimates
• Positive Sentiment: The company said results benefited from strong performance in its Midwest & South operations, Online segment, and Managed business, highlighting diversification across key revenue streams. BOYD GAMING REPORTS SECOND-QUARTER 2026 RESULTS
• Neutral Sentiment: Revenue of $1.03 billion was roughly in line with expectations, though slightly below the $1.04 billion forecast, so the top-line result was not a major surprise for investors. Boyd Gaming Corporation: Boyd Gaming Reports Second-quarter 2026 Results
• Neutral Sentiment: Market commentary noted that the stock may still look undervalued after the earnings release, but sentiment has cooled, suggesting investors are weighing solid fundamentals against a more cautious outlook. Boyd Gaming (BYD) Following Fresh Results Looks Undervalued But Sentiment Has Cooled

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BYD shares. Weiss Ratings upgraded Boyd Gaming from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, June 4th. Texas Capital upgraded Boyd Gaming to a "strong-buy" rating in a research report on Wednesday, June 3rd. Morgan Stanley set a $90.00 price target on Boyd Gaming in a research note on Wednesday. Barclays raised their price target on Boyd Gaming from $86.00 to $87.00 and gave the company an "equal weight" rating in a report on Friday. Finally, Mizuho set a $104.00 price objective on Boyd Gaming in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $94.77.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 62,914 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $84.03, for a total transaction of $5,286,663.42. Following the sale, the chairman directly owned 1,609,808 shares in the company, valued at $135,272,166.24. This represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Keith Smith sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $85.90, for a total value of $8,590,000.00. Following the completion of the sale, the chief executive officer directly owned 996,981 shares of the company's stock, valued at $85,640,667.90. The trade was a 9.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 200,000 shares of company stock worth $17,038,987 over the last three months. 22.82% of the stock is currently owned by insiders.

Boyd Gaming Company Profile

Boyd Gaming Corporation NYSE: BYD is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming's offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.

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