Two Sigma Investments LP Lowers Position in Boyd Gaming Co. (NYSE:BYD)

Two Sigma Investments LP lowered its stake in Boyd Gaming Co. (NYSE:BYD - Free Report) by 88.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,214 shares of the company's stock after selling 98,587 shares during the period. Two Sigma Investments LP's holdings in Boyd Gaming were worth $959,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Rhumbline Advisers increased its stake in Boyd Gaming by 1.0% in the 4th quarter. Rhumbline Advisers now owns 185,714 shares of the company's stock valued at $13,472,000 after buying an additional 1,797 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Boyd Gaming in the fourth quarter valued at about $43,273,000. Ameriprise Financial Inc. increased its stake in shares of Boyd Gaming by 19.1% during the fourth quarter. Ameriprise Financial Inc. now owns 193,768 shares of the company's stock worth $14,057,000 after acquiring an additional 31,130 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Boyd Gaming by 226.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 202,824 shares of the company's stock worth $14,569,000 after acquiring an additional 140,707 shares during the period. Finally, Truist Financial Corp raised its holdings in Boyd Gaming by 20.7% during the fourth quarter. Truist Financial Corp now owns 4,458 shares of the company's stock worth $323,000 after purchasing an additional 765 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BYD shares. Stifel Nicolaus lifted their price objective on Boyd Gaming from $71.00 to $76.00 and gave the company a "hold" rating in a report on Thursday, June 5th. Mizuho dropped their price objective on Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley cut their price objective on Boyd Gaming from $75.00 to $72.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Susquehanna boosted their target price on shares of Boyd Gaming from $75.00 to $76.00 and gave the stock a "positive" rating in a research report on Friday, April 25th. Finally, Truist Financial lowered their price target on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $80.08.

Boyd Gaming Price Performance

NYSE BYD traded up $1.09 during trading hours on Tuesday, reaching $75.02. The company's stock had a trading volume of 676,252 shares, compared to its average volume of 929,943. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The company's 50-day moving average is $70.08 and its two-hundred day moving average is $72.06. Boyd Gaming Co. has a fifty-two week low of $51.62 and a fifty-two week high of $80.50. The stock has a market cap of $6.11 billion, a PE ratio of 12.06, a PEG ratio of 4.46 and a beta of 1.26.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.52 by $0.10. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. The business had revenue of $991.57 million for the quarter, compared to analyst estimates of $976.38 million. During the same period in the prior year, the business earned $1.51 earnings per share. The company's quarterly revenue was up 3.2% on a year-over-year basis. Analysts forecast that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be given a $0.18 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.72 annualized dividend and a dividend yield of 0.96%. Boyd Gaming's dividend payout ratio is currently 11.75%.

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.