Jump Financial LLC Acquires New Shares in Boyd Gaming Corporation $BYD

Key Points

• Jump Financial LLC has invested approximately $764,000 in Boyd Gaming Corporation, acquiring 11,613 shares in the first quarter, as disclosed in their SEC filings.
• Institutional investors now control 76.81% of Boyd Gaming's stock, with several firms increasing their holdings significantly during the same quarter.
• Boyd Gaming announced a quarterly dividend of $0.18 per share, which will be paid on October 15th, indicating a strong commitment to returning value to shareholders.

Jump Financial LLC bought a new stake in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 11,613 shares of the company's stock, valued at approximately $764,000.

A number of other hedge funds have also made changes to their positions in BYD. CoreCap Advisors LLC raised its holdings in Boyd Gaming by 91.0% in the fourth quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock valued at $42,000 after acquiring an additional 273 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Boyd Gaming by 68.0% in the 1st quarter. GAMMA Investing LLC now owns 773 shares of the company's stock valued at $51,000 after purchasing an additional 313 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Boyd Gaming by 156.0% during the first quarter. UMB Bank n.a. now owns 1,006 shares of the company's stock worth $66,000 after purchasing an additional 613 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Boyd Gaming by 28.0% during the first 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 during the last quarter. Finally, Golden State Wealth Management LLC grew its stake in Boyd Gaming by 76.9% in the first 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. Institutional investors and hedge funds own 76.81% of the company's stock.

Boyd Gaming Stock Performance

Shares of NYSE BYD traded up $1.35 during midday trading on Thursday, reaching $86.69. 396,569 shares of the company traded hands, compared to its average volume of 1,045,174. The stock has a 50-day moving average price of $83.29 and a 200 day moving average price of $75.29. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 2.43 and a beta of 1.23. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.86 and a quick ratio of 0.82. Boyd Gaming Corporation has a 52 week low of $57.67 and a 52 week high of $87.83.

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

Boyd Gaming Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BYD. JPMorgan Chase & Co. started coverage on Boyd Gaming in a research note on Monday, June 23rd. They issued a "neutral" rating and a $79.00 target price for the company. Stifel Nicolaus boosted their price objective on Boyd Gaming from $87.00 to $90.00 and gave the company a "hold" rating in a research report on Friday, July 25th. Raymond James Financial upped their price objective on Boyd Gaming from $81.00 to $85.00 and gave the stock an "outperform" rating in a research note on Monday, June 30th. Susquehanna cut Boyd Gaming from a "positive" rating to a "neutral" rating and raised their target price for the company from $76.00 to $86.00 in a research note on Friday, July 11th. Finally, Morgan Stanley reissued a "sell" rating on shares of Boyd Gaming in a report on Friday, July 11th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Boyd Gaming presently has an average rating of "Hold" and a consensus target price of $86.62.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 100,000 shares of Boyd Gaming stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $84.17, for a total transaction of $8,417,000.00. Following the transaction, the chairman owned 1,504,379 shares of the company's stock, valued at $126,623,580.43. The trade was a 6.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William R. Boyd sold 9,774 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $81.61, for a total value of $797,656.14. Following the completion of the transaction, the director owned 15,188 shares in the company, valued at $1,239,492.68. This represents a 39.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 285,438 shares of company stock valued at $23,976,085 over the last ninety days. Company insiders own 21.97% of the company's stock.

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.