Sigma Planning Corp Invests $420,000 in Boyd Gaming Corporation (NYSE:BYD)

Sigma Planning Corp bought a new position in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,382 shares of the company's stock, valued at approximately $420,000.

Several other institutional investors also recently made changes to their positions in BYD. Reyes Financial Architecture Inc. bought a new stake in shares of Boyd Gaming during the first quarter valued at approximately $120,000. Louisiana State Employees Retirement System lifted its holdings in shares of Boyd Gaming by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the company's stock valued at $1,224,000 after buying an additional 200 shares during the period. Alps Advisors Inc. acquired a new stake in Boyd Gaming in the 1st quarter valued at about $341,000. Linden Thomas Advisory Services LLC boosted its holdings in Boyd Gaming by 7.8% during the first quarter. Linden Thomas Advisory Services LLC now owns 19,836 shares of the company's stock worth $1,306,000 after buying an additional 1,428 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Boyd Gaming during the 1st quarter worth $1,980,000. 76.81% of the stock is owned by institutional investors.

Boyd Gaming Stock Performance

Shares of NYSE BYD traded down $0.79 during trading hours on Tuesday, hitting $81.77. 442,921 shares of the company's stock were exchanged, compared to its average volume of 945,355. Boyd Gaming Corporation has a 1-year low of $52.76 and a 1-year high of $87.76. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of 13.32 and a beta of 1.26. The company's 50-day moving average price is $77.11 and its 200-day moving average price is $73.22. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.80 and a quick ratio of 0.76.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.52 by $0.10. The business had revenue of $991.57 million for the quarter, compared to the consensus estimate of $976.38 million. Boyd Gaming had a return on equity of 38.34% and a net margin of 13.96%. The firm's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the business earned $1.51 earnings per share. On average, sell-side analysts expect that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date was Monday, June 16th. Boyd Gaming's dividend payout ratio is 11.75%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Truist Financial upped their price target on Boyd Gaming from $85.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Raymond James Financial upped their price objective on shares of Boyd Gaming from $81.00 to $85.00 and gave the company an "outperform" rating in a research note on Monday, June 30th. Barclays lifted 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. Macquarie reiterated a "neutral" rating and set a $74.00 price objective on shares of Boyd Gaming in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. assumed coverage on Boyd Gaming in a research report on Monday, June 23rd. They set a "neutral" rating and a $79.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Boyd Gaming presently has a consensus rating of "Hold" and a consensus target price of $84.85.

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.