Stonehearth Capital Management LLC Purchases Shares of 2,999 Boyd Gaming Corporation $BYD

Key Points

• Stonehearth Capital Management LLC acquired 2,999 shares of Boyd Gaming Corporation, valued at approximately $235,000, in Q2 as per their Form 13F filing.
• Boyd Gaming's stock price targets have been adjusted by analysts, with Macquarie raising their target from $74.00 to $88.00, while Stifel Nicolaus increased theirs from $87.00 to $90.00, indicating a generally positive outlook.
• The company reported quarterly earnings of $1.87 EPS, beating estimates and showcasing a 6.9% year-over-year revenue increase, signaling strong financial performance.

Stonehearth Capital Management LLC acquired a new position in Boyd Gaming Corporation (NYSE:BYD - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,999 shares of the company's stock, valued at approximately $235,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Invst LLC purchased a new position in shares of Boyd Gaming in the 1st quarter worth $580,000. Hodges Capital Management Inc. purchased a new position in shares of Boyd Gaming in the 1st quarter worth $3,017,000. Strs Ohio purchased a new position in shares of Boyd Gaming in the 1st quarter worth $1,939,000. Bayforest Capital Ltd grew its stake in shares of Boyd Gaming by 47.8% in the 1st quarter. Bayforest Capital Ltd now owns 4,025 shares of the company's stock worth $265,000 after buying an additional 1,302 shares in the last quarter. Finally, United Services Automobile Association purchased a new position in shares of Boyd Gaming in the 1st quarter worth $302,000. 76.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Macquarie lifted 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 lifted their price target on shares of Boyd Gaming from $87.00 to $90.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. Susquehanna cut shares of Boyd Gaming from a "positive" rating to a "neutral" rating and lifted their price target for the stock from $76.00 to $86.00 in a research note on Friday, July 11th. Mizuho lifted their price target on shares of Boyd Gaming from $86.00 to $89.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Boyd Gaming in a research note on Monday. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $86.62.

Boyd Gaming Price Performance

BYD stock opened at $84.76 on Friday. Boyd Gaming Corporation has a 12 month low of $58.94 and a 12 month high of $87.83. 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 company has a 50-day moving average price of $84.10 and a 200 day moving average price of $75.67. The stock has a market cap of $6.80 billion, a PE 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 released its quarterly earnings data on Thursday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.20. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $976.81 million. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. The firm's quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.58 EPS. Equities research analysts anticipate that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Dividend Announcement

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 given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, September 15th. Boyd Gaming's payout ratio is 11.08%.

Insider Buying and Selling

In other Boyd Gaming news, Director William R. Boyd sold 9,774 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $81.61, for a total value of $797,656.14. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Josh Hirsberg sold 40,035 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $85.41, for a total transaction of $3,419,389.35. Following the completion of the sale, the chief financial officer directly owned 420,185 shares of the company's stock, valued at approximately $35,888,000.85. This trade represents a 8.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 385,438 shares of company stock worth $32,638,085 over the last 90 days. Corporate insiders own 27.94% of the company's stock.

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.

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