Boyd Gaming Corporation $BYD Stock Holdings Lowered by Swiss National Bank

Key Points

• The Swiss National Bank reduced its stake in Boyd Gaming Corporation by 11.4% in the first quarter, now holding 119,900 shares valued at approximately $7.89 million.
• Boyd Gaming reported earnings of $1.87 per share for the last quarter, exceeding the consensus estimate of $1.67, with quarterly revenue reaching $1.03 billion.
• Analysts have a consensus rating of "Hold" for Boyd Gaming, with a consensus price target of $86.62.

Swiss National Bank lessened its holdings in Boyd Gaming Corporation (NYSE:BYD - Free Report) by 11.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 119,900 shares of the company's stock after selling 15,400 shares during the period. Swiss National Bank owned about 0.15% of Boyd Gaming worth $7,893,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. CoreCap Advisors LLC increased its stake in Boyd Gaming by 91.0% during the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock worth $42,000 after buying an additional 273 shares during the period. GAMMA Investing LLC increased its stake in Boyd Gaming by 68.0% during the 1st quarter. GAMMA Investing LLC now owns 773 shares of the company's stock worth $51,000 after buying an additional 313 shares during the period. UMB Bank n.a. increased 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 worth $66,000 after buying an additional 613 shares during the period. Golden State Wealth Management LLC increased its stake in Boyd Gaming by 76.9% during the 1st quarter. Golden State Wealth Management LLC now owns 1,636 shares of the company's stock worth $108,000 after buying an additional 711 shares during the period. Finally, Reyes Financial Architecture Inc. purchased a new stake in Boyd Gaming during the 1st quarter worth $120,000. Hedge funds and other institutional investors own 76.81% of the company's stock.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 100,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were 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 in the company, valued at approximately $126,623,580.43. The trade was a 6.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen S. Thompson sold 15,906 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $83.25, for a total transaction of $1,324,174.50. Following the sale, the insider owned 38,609 shares in the company, valued at $3,214,199.25. This trade represents a 29.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 145,403 shares of company stock valued at $12,174,196 over the last quarter. Corporate insiders own 21.97% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on BYD shares. Susquehanna lowered shares of Boyd Gaming from a "positive" rating to a "neutral" rating and raised their price objective for the stock from $76.00 to $86.00 in a report on Friday, July 11th. Stifel Nicolaus lifted their price target on shares of Boyd Gaming from $87.00 to $90.00 and gave the company a "hold" rating in a report on Friday, July 25th. Mizuho lifted their price target on shares of Boyd Gaming from $86.00 to $89.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Raymond James Financial lifted their price target on shares of Boyd Gaming from $81.00 to $85.00 and gave the company an "outperform" rating in a report on Monday, June 30th. Finally, Macquarie lifted their price target on shares of Boyd Gaming from $74.00 to $88.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Boyd Gaming currently has a consensus rating of "Hold" and a consensus target price of $86.62.

Boyd Gaming Stock Performance

Boyd Gaming stock traded up $0.7050 during midday trading on Tuesday, reaching $83.7950. 673,744 shares of the stock traded hands, compared to its average volume of 1,064,183. 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 firm has a fifty day moving average price of $80.98 and a two-hundred day moving average price of $74.58. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 2.34 and a beta of 1.24. Boyd Gaming Corporation has a fifty-two week low of $57.67 and a fifty-two week high of $87.76.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its earnings results 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. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $976.81 million. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. Boyd Gaming's revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.58 EPS. On average, equities research analysts forecast that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, September 15th. 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.