Petrus Trust Company LTA Buys 4,284 Shares of Boyd Gaming Corporation $BYD

Key Points

• Petrus Trust Company LTA raised its stake in Boyd Gaming Corporation by 39.6%, acquiring an additional 4,284 shares, bringing its total holdings to 15,114 shares valued at approximately $995,000.
• Analysts have mixed opinions on Boyd Gaming, with target prices ranging from $74.00 to $100.00 and a consensus rating of "Hold," reflecting seven Buy ratings, six Hold ratings, and one Sell rating.
• Boyd Gaming reported a quarterly revenue of $1.03 billion, exceeding analysts' estimates by over $50 million, alongside an earnings per share (EPS) of $1.87.

Petrus Trust Company LTA boosted its holdings in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) by 39.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,114 shares of the company's stock after purchasing an additional 4,284 shares during the quarter. Petrus Trust Company LTA's holdings in Boyd Gaming were worth $995,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its position 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 buying an additional 196 shares during the last quarter. CoreCap Advisors LLC grew its stake in Boyd Gaming by 91.0% during 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 increased its holdings in 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 acquiring an additional 313 shares during the last quarter. UMB Bank n.a. lifted its stake in Boyd Gaming by 156.0% in the 1st quarter. UMB Bank n.a. now owns 1,006 shares of the company's stock worth $66,000 after purchasing an additional 613 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Boyd Gaming by 28.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,210 shares of the company's stock valued at $80,000 after purchasing an additional 265 shares during the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Boyd Gaming

In related news, CFO Josh Hirsberg sold 40,035 shares of Boyd Gaming stock in a transaction dated 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 directly owned 420,185 shares in the company, valued at $35,888,000.85. The trade was a 8.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Ted Bogich sold 16,497 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $83.18, for a total transaction of $1,372,220.46. Following the transaction, the chief operating officer owned 45,116 shares in the company, valued at approximately $3,752,748.88. The trade was a 26.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 385,438 shares of company stock worth $32,638,085 over the last three months. Corporate insiders own 27.94% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on BYD. Stifel Nicolaus increased their target price on Boyd Gaming from $87.00 to $90.00 and gave the company a "hold" rating in a research report on Friday, July 25th. Truist Financial increased their price objective on shares of Boyd Gaming from $85.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. initiated coverage on shares of Boyd Gaming in a report on Monday, June 23rd. They issued a "neutral" rating and a $79.00 target price on the stock. Morgan Stanley reissued a "sell" rating on shares of Boyd Gaming in a research note on Friday, July 11th. Finally, Macquarie lifted their target price on Boyd Gaming from $74.00 to $88.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $86.62.

Boyd Gaming Trading Up 0.8%

Shares of NYSE BYD traded up $0.72 during mid-day trading on Thursday, reaching $85.99. The company had a trading volume of 789,939 shares, compared to its average volume of 1,038,469. The business's 50-day moving average is $83.95 and its 200-day moving average is $75.54. 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 $6.89 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. Boyd Gaming Corporation has a 52 week low of $58.71 and a 52 week high of $87.83.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $976.81 million. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. The firm's quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.58 EPS. Equities analysts expect that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Announces Dividend

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 issued 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 dividend payout ratio (DPR) is presently 11.08%.

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.