Scientech Research LLC Acquires Shares of 11,021 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 acquired a new stake in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,021 shares of the company's stock, valued at approximately $726,000.

Several other institutional investors and hedge funds have also recently modified their holdings of BYD. Oppenheimer & Co. Inc. acquired a new position in shares of Boyd Gaming during the 1st quarter worth approximately $598,000. Redwood Investment Management LLC boosted its stake in Boyd Gaming by 7.0% in the first quarter. Redwood Investment Management LLC now owns 75,792 shares of the company's stock valued at $4,989,000 after acquiring an additional 4,977 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Boyd Gaming by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 692,496 shares of the company's stock worth $45,587,000 after buying an additional 7,400 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Boyd Gaming during the first quarter worth about $1,963,000. Finally, Jump Financial LLC purchased a new position in Boyd Gaming during the first quarter worth about $764,000. Hedge funds and other institutional investors own 76.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Macquarie raised their price objective on shares of Boyd Gaming from $74.00 to $88.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Stifel Nicolaus boosted their price objective on shares of Boyd Gaming from $87.00 to $90.00 and gave the stock a "hold" rating in a report on Friday, July 25th. Truist Financial boosted their target price on shares of Boyd Gaming from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. 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. Finally, Barclays boosted their target price on shares of Boyd Gaming from $73.00 to $87.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Seven investment 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. Based on data from MarketBeat, Boyd Gaming currently has an average rating of "Hold" and an average target price of $86.62.

Insider Transactions at Boyd Gaming

In related news, CFO Josh Hirsberg sold 40,035 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $85.41, for a total value of $3,419,389.35. Following the completion of the transaction, the chief financial officer owned 420,185 shares in the company, valued at $35,888,000.85. This trade represents a 8.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was 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 approximately $126,623,580.43. This trade represents a 6.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 385,438 shares of company stock valued at $32,638,085. Corporate insiders own 21.97% of the company's stock.

Boyd Gaming Price Performance

BYD stock traded down $1.23 during trading on Friday, hitting $84.76. 540,478 shares of the stock traded hands, compared to its average volume of 736,414. 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 $6.80 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 2.39 and a beta of 1.23. Boyd Gaming Corporation has a one year low of $58.94 and a one year high of $87.83. The company has a 50 day simple moving average of $84.10 and a 200 day simple moving average of $75.66.

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. 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 last year, the firm earned $1.58 earnings per share. The business's revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts expect that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Boyd Gaming Announces Dividend

The business 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 $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, September 15th. Boyd Gaming's payout ratio is currently 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.