Hodges Capital Management Inc. Buys Shares of 45,825 Boyd Gaming Corporation $BYD

Key Points

• Hodges Capital Management Inc. acquired 45,825 shares of Boyd Gaming Corporation valued at approximately $3.02 million, representing about 0.06% of the company.
• Boyd Gaming reported earnings per share of $1.87, exceeding expectations, and recorded a revenue of $1.03 billion for the last quarter.
• The company announced a quarterly dividend of $0.18 per share, with a yield of 0.8%, to be paid on October 15th.

Hodges Capital Management Inc. bought a new stake in Boyd Gaming Corporation (NYSE:BYD - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 45,825 shares of the company's stock, valued at approximately $3,017,000. Hodges Capital Management Inc. owned approximately 0.06% of Boyd Gaming at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BYD. Ameriprise Financial Inc. grew its position in Boyd Gaming by 19.1% in the 4th quarter. Ameriprise Financial Inc. now owns 193,768 shares of the company's stock valued at $14,057,000 after acquiring an additional 31,130 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Boyd Gaming by 81.7% during the fourth quarter. BNP Paribas Financial Markets now owns 34,361 shares of the company's stock worth $2,493,000 after buying an additional 15,451 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Boyd Gaming by 247.3% during the fourth quarter. Cetera Investment Advisers now owns 15,976 shares of the company's stock worth $1,159,000 after buying an additional 11,376 shares in the last quarter. CoreCap Advisors LLC grew its position in shares of Boyd Gaming by 91.0% during the fourth quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock worth $42,000 after buying an additional 273 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of Boyd Gaming by 91.6% during the fourth quarter. Lazard Asset Management LLC now owns 28,160 shares of the company's stock worth $2,042,000 after buying an additional 13,461 shares in the last quarter. 76.81% of the stock is owned by institutional investors and hedge funds.

Boyd Gaming Price Performance

BYD stock opened at $85.99 on Friday. The business has a 50 day moving average price of $84.03 and a 200 day moving average price of $75.60. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 2.41 and a beta of 1.23. Boyd Gaming Corporation has a fifty-two week low of $58.71 and a fifty-two week high of $87.83. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.53.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.20. The firm had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $976.81 million. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%.The firm's revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.58 earnings per share. Equities research analysts anticipate that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

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

Insider Buying and Selling

In other Boyd Gaming news, CFO Josh Hirsberg sold 40,035 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $85.41, for a total value of $3,419,389.35. Following the completion of the sale, the chief financial officer owned 420,185 shares in the company, valued at approximately $35,888,000.85. The trade was a 8.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Ted Bogich sold 16,497 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $83.18, for a total value of $1,372,220.46. Following the completion of the sale, the chief operating officer owned 45,116 shares of the company's stock, valued at approximately $3,752,748.88. This represents a 26.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 385,438 shares of company stock valued at $32,638,085 in the last 90 days. Company insiders own 27.94% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BYD shares. Mizuho boosted their price objective on Boyd Gaming from $86.00 to $89.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Stifel Nicolaus boosted their price objective on Boyd Gaming from $87.00 to $90.00 and gave the stock a "hold" rating in a research report on Friday, July 25th. Macquarie boosted their price objective on Boyd Gaming from $74.00 to $88.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Raymond James Financial reissued an "outperform" rating on shares of Boyd Gaming in a research report on Monday. Finally, Truist Financial boosted their price objective on Boyd Gaming from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $86.62.

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.

Want to see what other hedge funds are holding BYD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boyd Gaming Corporation (NYSE:BYD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.