Universal Beteiligungs und Servicegesellschaft mbH Purchases New Shares in Boyd Gaming Corporation (NYSE:BYD)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake in Boyd Gaming Corporation, purchasing 13,776 shares valued at approximately $907,000 during the first quarter.
• Boyd Gaming reported $1.87 earnings per share (EPS) for the most recent quarter, exceeding analysts' expectations, and showed a revenue increase of 6.9% compared to the previous year.
• The company also announced a quarterly dividend of $0.18 per share, which reflects a 0.9% dividend yield and a payout ratio of 11.08%.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 13,776 shares of the company's stock, valued at approximately $907,000.

Other institutional investors have also added to or reduced their stakes in the company. CoreCap Advisors LLC boosted its position in Boyd Gaming by 91.0% during the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock valued at $42,000 after buying an additional 273 shares during the period. GAMMA Investing LLC boosted its position in Boyd Gaming by 68.0% during the 1st quarter. GAMMA Investing LLC now owns 773 shares of the company's stock valued at $51,000 after buying an additional 313 shares during the period. Investment Counsel Co. of Nevada purchased a new stake in shares of Boyd Gaming in the 4th quarter worth about $73,000. UMB Bank n.a. lifted its position in shares of Boyd Gaming by 156.0% in the 1st quarter. UMB Bank n.a. now owns 1,006 shares of the company's stock worth $66,000 after purchasing an additional 613 shares during the period. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of Boyd Gaming in the 4th quarter worth about $109,000. Hedge funds and other institutional investors own 76.81% of the company's stock.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, insider Stephen S. Thompson sold 15,906 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were 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 directly owned 38,609 shares in the company, valued at $3,214,199.25. This represents a 29.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Ted Bogich sold 16,497 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $83.18, for a total transaction of $1,372,220.46. Following the completion of the transaction, the chief operating officer owned 45,116 shares of the company's stock, valued at approximately $3,752,748.88. The trade was a 26.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.97% of the company's stock.

Boyd Gaming Stock Performance

Shares of BYD stock traded up $0.37 during trading hours on Wednesday, reaching $83.62. The company had a trading volume of 474,923 shares, compared to its average volume of 1,057,139. The business has a fifty day moving average price of $79.44 and a 200-day moving average price of $74.17. Boyd Gaming Corporation has a one year low of $54.56 and a one year high of $87.76. The firm has a market cap of $6.70 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 2.83 and a beta of 1.24. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86.

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. 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%. The business's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.58 earnings per share. Sell-side analysts predict that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 16th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, June 16th. Boyd Gaming's payout ratio is 11.08%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Morgan Stanley reaffirmed a "sell" rating on shares of Boyd Gaming in a research report on Friday, July 11th. Raymond James Financial raised their target price on shares of Boyd Gaming from $81.00 to $85.00 and gave the stock an "outperform" rating in a research report on Monday, June 30th. Truist Financial lifted their price target on shares of Boyd Gaming from $85.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. 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 research report on Monday, July 28th. Finally, 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 research report on Friday, July 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Boyd Gaming has an average rating of "Hold" and a consensus target price of $86.62.

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.