Vestcor Inc purchased a new stake in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 5,593 shares of the company's stock, valued at approximately $368,000.
Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Boyd Gaming during the 4th quarter valued at $43,273,000. Seven Six Capital Management LLC purchased a new stake in shares of Boyd Gaming during the 4th quarter valued at $9,162,000. Victory Capital Management Inc. raised its position in shares of Boyd Gaming by 13.3% during the 1st quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company's stock valued at $69,036,000 after buying an additional 122,822 shares in the last quarter. J. Goldman & Co LP purchased a new stake in shares of Boyd Gaming during the 4th quarter valued at $8,359,000. Finally, Invesco Ltd. raised its position in shares of Boyd Gaming by 27.5% during the 4th quarter. Invesco Ltd. now owns 468,136 shares of the company's stock valued at $33,959,000 after buying an additional 101,029 shares in the last quarter. 76.81% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts have recently weighed in on the stock. Truist Financial raised their price objective 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. Raymond James Financial raised their price objective on shares of Boyd Gaming from $81.00 to $85.00 and gave the company an "outperform" rating in a research report on Monday, June 30th. Stifel Nicolaus upped their price objective 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. Mizuho upped their price objective 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. Finally, Morgan Stanley reaffirmed a "sell" rating on shares of Boyd Gaming in a research note on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Boyd Gaming has a consensus rating of "Hold" and a consensus target price of $86.62.
Read Our Latest Stock Report on BYD
Boyd Gaming Stock Performance
Boyd Gaming stock opened at $83.60 on Monday. 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 50-day moving average of $79.07 and a 200-day moving average of $74.05. The firm has a market cap of $6.70 billion, a P/E ratio of 12.86, a P/E/G ratio of 2.83 and a beta of 1.24. Boyd Gaming Corporation has a 1-year low of $52.76 and a 1-year high of $87.76.
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. Sell-side analysts expect that Boyd Gaming Corporation will post 6.52 EPS for the current year.
Boyd Gaming Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 16th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. Boyd Gaming's dividend payout ratio (DPR) is presently 11.08%.
About Boyd Gaming
(
Free Report)
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.
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