Northern Trust Corp Buys 85,087 Shares of Boyd Gaming Corporation $BYD

Key Points

• Northern Trust Corp increased its stake in Boyd Gaming Corporation by 14.2%, acquiring an additional 85,087 shares, bringing its total ownership to 682,518 shares valued at approximately $44.93 million.
• A significant number of institutional investors have been actively buying and selling Boyd Gaming shares, with institutional ownership currently at 76.81%.
• Boyd Gaming announced a quarterly dividend of $0.18 per share to be paid on October 15, representing a yield of 0.8%, with an ex-dividend date set for September 15.

Northern Trust Corp grew its stake in Boyd Gaming Corporation (NYSE:BYD - Free Report) by 14.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 682,518 shares of the company's stock after acquiring an additional 85,087 shares during the period. Northern Trust Corp owned 0.84% of Boyd Gaming worth $44,930,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CoreCap Advisors LLC grew its holdings in 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 purchasing an additional 273 shares during the period. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 313 shares during the period. UMB Bank n.a. grew its holdings in 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 period. Caitong International Asset Management Co. Ltd boosted its holdings 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 acquiring an additional 265 shares during the period. Finally, Golden State Wealth Management LLC boosted its holdings 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 acquiring an additional 711 shares during the period. Institutional investors own 76.81% of the company's stock.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, 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 transaction of $1,372,220.46. Following the completion of the transaction, the chief operating officer directly owned 45,116 shares in the company, valued at $3,752,748.88. The trade was a 26.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen S. Thompson sold 15,906 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $83.25, for a total transaction of $1,324,174.50. Following the transaction, the insider owned 38,609 shares of the company's stock, valued at approximately $3,214,199.25. This represents a 29.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 285,438 shares of company stock valued at $23,976,085. 27.94% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BYD shares. Barclays boosted their price objective on Boyd Gaming from $73.00 to $87.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Susquehanna cut Boyd Gaming from a "positive" rating to a "neutral" rating and boosted their price objective for the stock from $76.00 to $86.00 in a report on Friday, July 11th. Stifel Nicolaus boosted their price objective on Boyd Gaming from $87.00 to $90.00 and gave the stock a "hold" rating in a 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 report on Monday, July 28th. Finally, Mizuho boosted their price objective on Boyd Gaming from $86.00 to $89.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Seven equities 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $86.62.

Boyd Gaming Trading Up 0.6%

Shares of BYD stock opened at $87.29 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53. The stock has a market cap of $7.00 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The stock has a 50 day simple moving average of $82.41 and a 200 day simple moving average of $75.01. Boyd Gaming Corporation has a 1 year low of $57.67 and a 1 year high of $87.76.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.20. The business 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 for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.58 earnings per share. On average, research analysts predict that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

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

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.

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