Versant Capital Management Inc Acquires 5,754 Shares of Boyd Gaming Co. (NYSE:BYD)

Versant Capital Management Inc increased its stake in Boyd Gaming Co. (NYSE:BYD - Free Report) by 501.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,902 shares of the company's stock after acquiring an additional 5,754 shares during the period. Versant Capital Management Inc's holdings in Boyd Gaming were worth $454,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kera Capital Partners Inc. grew its stake in shares of Boyd Gaming by 28.3% during the first quarter. Kera Capital Partners Inc. now owns 3,885 shares of the company's stock worth $256,000 after purchasing an additional 856 shares in the last quarter. PharVision Advisers LLC acquired a new position in Boyd Gaming in the fourth quarter valued at $522,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Boyd Gaming by 25.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 159,571 shares of the company's stock valued at $11,575,000 after acquiring an additional 32,020 shares during the last quarter. WBI Investments LLC lifted its holdings in shares of Boyd Gaming by 440.7% during the fourth quarter. WBI Investments LLC now owns 38,257 shares of the company's stock worth $2,775,000 after purchasing an additional 31,182 shares during the period. Finally, State of Wyoming lifted its position in Boyd Gaming by 253.1% in the fourth quarter. State of Wyoming now owns 5,597 shares of the company's stock valued at $406,000 after purchasing an additional 4,012 shares during the period. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on BYD. Mizuho lowered their price target 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 dropped 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. Truist Financial reduced their target price on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Wells Fargo & Company lifted their target price on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Finally, Wall Street Zen downgraded shares of Boyd Gaming from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Boyd Gaming has a consensus rating of "Moderate Buy" and an average target price of $79.67.

Boyd Gaming Stock Performance

BYD stock traded down $0.14 on Wednesday, reaching $74.51. The company's stock had a trading volume of 140,918 shares, compared to its average volume of 933,635. The company has a market capitalization of $6.07 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 4.46 and a beta of 1.32. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. Boyd Gaming Co. has a 52 week low of $51.62 and a 52 week high of $80.50. The firm has a fifty day moving average of $69.25 and a two-hundred day moving average of $71.98.

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

Boyd Gaming Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.97%. Boyd Gaming's dividend payout ratio is 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.