Northwest & Ethical Investments L.P. Takes $230,000 Position in Boyd Gaming Corporation $BYD

Key Points

• Northwest & Ethical Investments L.P. has acquired a new stake in Boyd Gaming Corporation, purchasing 3,500 shares valued at approximately $230,000. This investment reflects growing institutional interest in Boyd Gaming.
• The company's recent quarterly earnings showed an EPS of $1.87, surpassing analyst expectations, with revenue reaching $1.03 billion, a 6.9% increase year-over-year.
• Boyd Gaming declared a quarterly dividend of $0.18 per share, set to be paid on October 15th, representing an annual yield of 0.9%.

Northwest & Ethical Investments L.P. purchased a new stake in Boyd Gaming Corporation (NYSE:BYD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,500 shares of the company's stock, valued at approximately $230,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. grew its holdings in shares of Boyd Gaming by 7.5% in the 1st quarter. Raymond James Financial Inc. now owns 641,104 shares of the company's stock valued at $42,204,000 after buying an additional 44,558 shares during the period. Brandywine Global Investment Management LLC grew its holdings in shares of Boyd Gaming by 42.0% in the 1st quarter. Brandywine Global Investment Management LLC now owns 83,984 shares of the company's stock valued at $5,529,000 after buying an additional 24,833 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. grew its holdings in shares of Boyd Gaming by 20.0% in the 1st quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 12,000 shares of the company's stock valued at $790,000 after buying an additional 2,000 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in shares of Boyd Gaming by 28.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,210 shares of the company's stock valued at $80,000 after buying an additional 265 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of Boyd Gaming by 39.9% in the 1st quarter. Russell Investments Group Ltd. now owns 42,348 shares of the company's stock valued at $2,788,000 after buying an additional 12,070 shares during the period. Institutional investors and hedge funds own 76.81% of the company's stock.

Boyd Gaming Trading Down 0.5%

BYD opened at $83.45 on Thursday. The stock has a market capitalization of $6.69 billion, a P/E ratio of 12.84, a P/E/G ratio of 2.37 and a beta of 1.24. Boyd Gaming Corporation has a 12 month low of $57.67 and a 12 month high of $87.76. The firm's fifty day simple moving average is $81.32 and its 200 day simple moving average is $74.71. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53.

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

Boyd Gaming Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.72 annualized dividend and a yield of 0.9%. Boyd Gaming's payout ratio is 11.08%.

Insider Activity

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 100,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $84.17, for a total transaction of $8,417,000.00. Following the sale, the chairman directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William R. Boyd sold 9,774 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $81.61, for a total transaction of $797,656.14. Following the sale, the director directly owned 15,188 shares in the company, valued at $1,239,492.68. This trade represents a 39.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,403 shares of company stock worth $18,426,446. 27.94% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BYD shares. Stifel Nicolaus boosted their price target on shares of Boyd Gaming from $87.00 to $90.00 and gave the company a "hold" rating in a report on Friday, July 25th. Raymond James Financial boosted their price objective on shares of Boyd Gaming from $81.00 to $85.00 and gave the company an "outperform" rating in a research report on Monday, June 30th. Mizuho boosted their price objective on shares of Boyd Gaming from $86.00 to $89.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Macquarie boosted their price objective on shares of Boyd Gaming from $74.00 to $88.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Boyd Gaming in a research report on Monday, June 23rd. They issued a "neutral" rating and a $79.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Boyd Gaming presently has an average rating of "Hold" and an average price target 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.

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