Koshinski Asset Management Inc. Takes $277,000 Position in Boyd Gaming Corporation $BYD

Key Points

• Koshinski Asset Management Inc. has acquired a new position in Boyd Gaming Corporation worth $277,000 by purchasing 3,539 shares during the second quarter.
• Significant insider activity was noted with Director William R. Boyd selling 9,774 shares for approximately $797,656, and Chairman Marianne Boyd Johnson selling 100,000 shares for $8.66 million, reflecting a decrease in their ownership positions.
• Recent analyst updates show a positive outlook for Boyd Gaming, with price targets raised by several brokerages, leading to a consensus rating of "Hold" and an average target price of $88.67.

Koshinski Asset Management Inc. bought a new stake in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,539 shares of the company's stock, valued at approximately $277,000.

Other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. grew its holdings in shares of Boyd Gaming by 56.8% during the first 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. Parallel Advisors LLC boosted its position in shares of Boyd Gaming by 24.5% during the second quarter. Parallel Advisors LLC now owns 685 shares of the company's stock worth $54,000 after buying an additional 135 shares during the period. GAMMA Investing LLC boosted its position in shares of Boyd Gaming by 68.0% during the first quarter. GAMMA Investing LLC now owns 773 shares of the company's stock worth $51,000 after buying an additional 313 shares during the period. Caitong International Asset Management Co. Ltd boosted 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 buying an additional 265 shares during the period. Finally, Golden State Wealth Management LLC boosted its position in shares of Boyd Gaming by 76.9% during the first quarter. Golden State Wealth Management LLC now owns 1,636 shares of the company's stock worth $108,000 after buying an additional 711 shares during the period. 76.81% of the stock is owned by institutional investors.

Insider Activity at Boyd Gaming

In other news, Director William R. Boyd sold 9,774 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $81.61, for a total transaction of $797,656.14. Following the completion of the sale, the director owned 15,188 shares in the company, valued at approximately $1,239,492.68. This represents a 39.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 100,000 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $86.62, for a total value of $8,662,000.00. Following the sale, the chairman owned 1,704,379 shares of the company's stock, valued at $147,633,308.98. This trade represents a 5.54% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 385,438 shares of company stock worth $32,638,085. 21.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BYD. Barclays boosted their price objective on Boyd Gaming from $73.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. 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. 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. 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. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Boyd Gaming in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $88.67.

Boyd Gaming Stock Performance

BYD opened at $82.73 on Tuesday. The company has a market capitalization of $6.63 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30. 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 1-year low of $58.94 and a 1-year high of $88.49. The business has a 50 day moving average price of $84.60 and a two-hundred day moving average price of $78.52.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share for the quarter. The firm had revenue of $707.32 million during the quarter. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%. Research analysts predict that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

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

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.

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