Boyd Gaming Corporation (NYSE:BYD) Stock Holdings Lifted by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP has increased its stake in Boyd Gaming Corporation by 150.9%, owning 25,502 shares valued at approximately $1.68 million.
• Several hedge funds have also modified their positions in Boyd Gaming, with a significant portion of the stock (76.81%) being owned by institutional investors.
• Boyd Gaming reported a quarterly EPS of $1.87, exceeding analysts' expectations, along with a revenue increase of 6.9% year-over-year.

GSA Capital Partners LLP increased its stake in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) by 150.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,502 shares of the company's stock after buying an additional 15,336 shares during the period. GSA Capital Partners LLP's holdings in Boyd Gaming were worth $1,679,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. purchased a new stake in shares of Boyd Gaming in the first quarter valued at about $598,000. Raymond James Financial Inc. purchased a new position in shares of Boyd Gaming during the fourth quarter valued at approximately $43,273,000. Bank of New York Mellon Corp lifted its stake in shares of Boyd Gaming by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 692,496 shares of the company's stock valued at $45,587,000 after buying an additional 7,400 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Boyd Gaming during the first quarter valued at approximately $1,963,000. Finally, SG Americas Securities LLC purchased a new position in shares of Boyd Gaming during the first quarter valued at approximately $805,000. Hedge funds and other institutional investors own 76.81% of the company's stock.

Boyd Gaming Trading Down 1.5%

Shares of Boyd Gaming stock traded down $1.30 during trading hours on Friday, hitting $83.60. The company's stock had a trading volume of 1,372,073 shares, compared to its average volume of 1,058,781. Boyd Gaming Corporation has a 1-year low of $52.76 and a 1-year high of $87.76. The business has a fifty day moving average of $78.86 and a 200 day moving average of $73.97. The company has a market capitalization of $6.81 billion, a PE ratio of 12.86, a P/E/G ratio of 2.94 and a beta of 1.26. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 2.57.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.20. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $976.81 million. Boyd Gaming had a net margin of 14.02% and a return on equity of 39.81%. The business's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.58 earnings per share. As a group, equities analysts forecast that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, June 16th. Boyd Gaming's dividend payout ratio is 11.08%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Morgan Stanley reissued a "sell" rating on shares of Boyd Gaming in a research note on Friday, July 11th. Susquehanna downgraded shares of Boyd Gaming from a "positive" rating to a "neutral" rating and upped their price objective for the company from $76.00 to $86.00 in a research note on Friday, July 11th. Barclays upped their price objective on shares of 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 upped their price objective on shares of Boyd Gaming from $85.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Mizuho upped their price objective on shares of Boyd Gaming from $86.00 to $89.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $86.62.

Boyd Gaming 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.