Petrus Trust Company LTA Raises Holdings in 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 raised its stake in Boyd Gaming Corporation (NYSE:BYD - Free Report) by 39.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,114 shares of the company's stock after buying an additional 4,284 shares during the quarter. Petrus Trust Company LTA's holdings in Boyd Gaming were worth $995,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Advisors Asset Management Inc. lifted its stake in Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company's stock valued at $36,000 after acquiring an additional 196 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in shares of Boyd Gaming by 91.0% in the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock valued at $42,000 after purchasing an additional 273 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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. increased its holdings 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 buying an additional 613 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased 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 buying an additional 265 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.

Insider Activity at Boyd Gaming

In related news, CEO Keith Smith sold 25,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $85.21, for a total transaction of $2,130,250.00. Following the sale, the chief executive officer owned 1,046,689 shares in the company, valued at approximately $89,188,369.69. This represents a 2.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Ted Bogich sold 16,497 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $83.18, for a total value of $1,372,220.46. Following the sale, the chief operating officer owned 45,116 shares in the company, valued at $3,752,748.88. The trade was a 26.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 385,438 shares of company stock worth $32,638,085 in the last ninety days. Corporate insiders own 21.97% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BYD. Raymond James Financial reiterated an "outperform" rating on shares of Boyd Gaming in a report on Monday. Barclays lifted their price objective on shares of Boyd Gaming from $73.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Susquehanna lowered shares of Boyd Gaming from a "positive" rating to a "neutral" rating and lifted their price objective for the stock from $76.00 to $86.00 in a research report on Friday, July 11th. JPMorgan Chase & Co. started coverage on shares of Boyd Gaming in a research note on Monday, June 23rd. They issued a "neutral" rating and a $79.00 target price for the company. Finally, Macquarie raised 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. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $86.62.

Boyd Gaming Stock Down 1.1%

Shares of BYD traded down $0.94 on Tuesday, hitting $85.40. 682,831 shares of the stock traded hands, compared to its average volume of 824,396. The company has a market capitalization of $6.85 billion, a PE ratio of 13.14, a P/E/G ratio of 2.44 and a beta of 1.23. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86. The business has a 50 day simple moving average of $83.87 and a 200 day simple moving average of $75.47. Boyd Gaming Corporation has a one year low of $57.67 and a one year high of $87.83.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.67 by $0.20. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $976.81 million. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. The company's revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $1.58 EPS. As a group, equities analysts forecast that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

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