Scientech Research LLC Takes $726,000 Position in Boyd Gaming Corporation $BYD

Key Points

• Scientech Research LLC made a new investment in Boyd Gaming Corporation, acquiring 11,021 shares valued at approximately $726,000.
• Boyd Gaming's most recent quarterly earnings showed $1.87 earnings per share, exceeding analysts' expectations of $1.67, with revenues reaching $1.03 billion.
• The company announced a quarterly dividend of $0.18 per share, with a payout ratio of 11.08%, set to be paid on October 15th.

Scientech Research LLC bought a new stake in 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 & Exchange Commission. The fund bought 11,021 shares of the company's stock, valued at approximately $726,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its position in Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company's stock worth $36,000 after buying an additional 196 shares during the period. CoreCap Advisors LLC grew its stake in Boyd Gaming by 91.0% during 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 grew its stake in Boyd Gaming by 68.0% during 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. grew its stake in Boyd Gaming by 156.0% during the 1st quarter. UMB Bank n.a. now owns 1,006 shares of the company's stock valued at $66,000 after purchasing an additional 613 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in 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 in the last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.

Insider Activity at Boyd Gaming

In other news, Director William R. Boyd sold 9,774 shares of the business's stock in a transaction on 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 of the company's stock, valued at $1,239,492.68. The trade was a 39.16% 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, CEO Keith Smith sold 25,000 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $85.21, for a total value of $2,130,250.00. Following the sale, the chief executive officer directly owned 1,046,689 shares in the company, valued at $89,188,369.69. This trade represents a 2.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 385,438 shares of company stock valued at $32,638,085 over the last ninety days. Company insiders own 27.94% of the company's stock.

Boyd Gaming Price Performance

Shares of BYD traded down $1.23 during midday trading on Friday, reaching $84.76. The stock had a trading volume of 540,478 shares, compared to its average volume of 758,352. Boyd Gaming Corporation has a 52 week low of $58.94 and a 52 week high of $87.83. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.86 and a quick ratio of 0.82. The firm's 50 day moving average price is $84.10 and its 200-day moving average price is $75.67. The company has a market capitalization of $6.80 billion, a P/E ratio of 13.04, a P/E/G ratio of 2.43 and a beta of 1.23.

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

Boyd Gaming Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.8%. Boyd Gaming's payout ratio is 11.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BYD shares. Macquarie raised their price objective on Boyd Gaming from $74.00 to $88.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Truist Financial increased their target price on Boyd Gaming from $85.00 to $100.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Barclays raised their price target on Boyd Gaming from $73.00 to $87.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Raymond James Financial reissued an "outperform" rating on shares of Boyd Gaming in a report on Monday, September 8th. Finally, JPMorgan Chase & Co. assumed coverage on Boyd Gaming in a research note on Monday, June 23rd. They set a "neutral" rating and a $79.00 target price on the stock. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $86.62.

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.