Picton Mahoney Asset Management Takes Position in Boyd Gaming Corporation (NYSE:BYD)

Picton Mahoney Asset Management acquired a new stake in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 46,030 shares of the company's stock, valued at approximately $3,030,000. Picton Mahoney Asset Management owned about 0.06% of Boyd Gaming as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Cohen & Steers Inc. grew its holdings in shares of Boyd Gaming by 0.4% during the 4th quarter. Cohen & Steers Inc. now owns 5,265,454 shares of the company's stock worth $381,929,000 after purchasing an additional 21,616 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Boyd Gaming by 51.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company's stock worth $94,074,000 after purchasing an additional 441,963 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Boyd Gaming by 13.3% during the 1st quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company's stock worth $69,036,000 after purchasing an additional 122,822 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Boyd Gaming by 37.2% during the 4th quarter. Franklin Resources Inc. now owns 964,051 shares of the company's stock worth $69,932,000 after purchasing an additional 261,443 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Boyd Gaming during the 4th quarter worth approximately $55,553,000. Institutional investors and hedge funds own 76.81% of the company's stock.

Analyst Ratings Changes

BYD has been the subject of several analyst reports. Stifel Nicolaus raised their target price on Boyd Gaming from $87.00 to $90.00 and gave the stock a "hold" rating in a research report on Friday, July 25th. Susquehanna downgraded Boyd Gaming from a "positive" rating to a "neutral" rating and raised their target price for the stock from $76.00 to $86.00 in a research report on Friday, July 11th. Truist Financial raised their target price 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 raised their target price on Boyd Gaming from $74.00 to $88.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, Barclays raised their target price 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Boyd Gaming has a consensus rating of "Hold" and a consensus target price of $86.62.

Boyd Gaming Price Performance

BYD traded down $1.30 during trading on Friday, hitting $83.60. The company's stock had a trading volume of 1,372,073 shares, compared to its average volume of 1,058,781. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 2.94 and a beta of 1.26. Boyd Gaming Corporation has a 12 month low of $52.76 and a 12 month high of $87.76. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 2.57. The firm's 50 day moving average price is $78.86 and its two-hundred day moving average price is $73.97.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $1.87 earnings per share for the quarter, topping analysts' consensus estimates of $1.67 by $0.20. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $976.81 million. Boyd Gaming had a return on equity of 39.81% and a net margin of 14.02%. The firm's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.58 earnings per share. Sell-side analysts forecast that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, June 16th. Boyd Gaming's 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.