United Services Automobile Association Purchases Shares of 4,556 Boyd Gaming Corporation $BYD

Key Points

• United Services Automobile Association purchased a new stake in Boyd Gaming Corporation, acquiring 4,556 shares valued at approximately $302,000 during the first quarter of the year.
• Analysts have mixed ratings on Boyd Gaming, with seven recommending a Buy rating, six a Hold, and one a Sell; the current average price target stands at $86.62.
• Boyd Gaming announced a quarterly dividend of $0.18 per share, reflecting a 0.8% annualized dividend yield, with the dividend payment scheduled for October 15th.

United Services Automobile Association acquired a new stake in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,556 shares of the company's stock, valued at approximately $302,000.

Other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its holdings in shares of Boyd Gaming by 19.1% in the fourth quarter. Ameriprise Financial Inc. now owns 193,768 shares of the company's stock worth $14,057,000 after buying an additional 31,130 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Boyd Gaming by 81.7% during the 4th quarter. BNP Paribas Financial Markets now owns 34,361 shares of the company's stock worth $2,493,000 after acquiring an additional 15,451 shares during the period. Cetera Investment Advisers increased its holdings in Boyd Gaming by 247.3% during the 4th quarter. Cetera Investment Advisers now owns 15,976 shares of the company's stock worth $1,159,000 after acquiring an additional 11,376 shares during the period. Lazard Asset Management LLC increased its holdings in Boyd Gaming by 91.6% during the 4th quarter. Lazard Asset Management LLC now owns 28,160 shares of the company's stock worth $2,042,000 after acquiring an additional 13,461 shares during the period. Finally, ProShare Advisors LLC bought a new stake in Boyd Gaming during the 4th quarter worth approximately $225,000. 76.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boyd Gaming

In other news, insider Stephen S. Thompson sold 15,906 shares of Boyd Gaming stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $83.25, for a total value of $1,324,174.50. Following the completion of the transaction, the insider owned 38,609 shares of the company's stock, valued at $3,214,199.25. The trade was a 29.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Keith Smith sold 50,000 shares of Boyd Gaming stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $83.09, for a total value of $4,154,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,096,689 shares of the company's stock, valued at approximately $91,123,889.01. This represents a 4.36% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 385,438 shares of company stock valued at $32,638,085. Company insiders own 27.94% of the company's stock.

Analyst Upgrades and Downgrades

BYD has been the topic of a number of analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Boyd Gaming in a report on Monday, June 23rd. They set a "neutral" rating and a $79.00 target price on the stock. Mizuho raised their target price on shares of Boyd Gaming from $86.00 to $89.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Stifel Nicolaus raised their target price on shares of Boyd Gaming from $87.00 to $90.00 and gave the company a "hold" rating in a research note on Friday, July 25th. Susquehanna downgraded shares of Boyd Gaming from a "positive" rating to a "neutral" rating and raised their target price for the company from $76.00 to $86.00 in a research note on Friday, July 11th. Finally, Truist Financial raised their target price on shares of Boyd Gaming from $85.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Six equities research 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's stock. Based on data from MarketBeat.com, Boyd Gaming has a consensus rating of "Hold" and a consensus price target of $87.83.

Boyd Gaming Trading Up 0.6%

Shares of Boyd Gaming stock traded up $0.49 on Thursday, hitting $83.33. The stock had a trading volume of 956,472 shares, compared to its average volume of 752,639. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.53. Boyd Gaming Corporation has a one year low of $58.94 and a one year high of $87.83. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 2.34 and a beta of 1.23. The stock's 50-day simple moving average is $84.10 and its two-hundred day simple moving average is $75.87.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.67 by $0.20. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%.The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $976.81 million. During the same quarter last year, the firm posted $1.58 earnings per share. The firm's revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts predict that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming Announces Dividend

The company 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 dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.72 annualized dividend and a yield of 0.9%. Boyd Gaming's dividend payout ratio (DPR) is currently 11.08%.

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.