American Trust Purchases 1,985 Shares of Boyd Gaming Co. (NYSE:BYD)

American Trust increased its position in shares of Boyd Gaming Co. (NYSE:BYDGet Rating) by 58.8% during the first quarter, HoldingsChannel.com reports. The firm owned 5,361 shares of the company’s stock after buying an additional 1,985 shares during the period. American Trust’s holdings in Boyd Gaming were worth $353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Bank of America Corp DE increased its position in shares of Boyd Gaming by 21.1% during the first quarter. Bank of America Corp DE now owns 377,538 shares of the company’s stock valued at $24,835,000 after purchasing an additional 65,765 shares during the period. Verition Fund Management LLC increased its position in shares of Boyd Gaming by 38.0% during the first quarter. Verition Fund Management LLC now owns 21,223 shares of the company’s stock valued at $1,396,000 after purchasing an additional 5,839 shares during the period. Toroso Investments LLC bought a new stake in shares of Boyd Gaming during the first quarter valued at approximately $203,000. BNP Paribas Arbitrage SA grew its position in Boyd Gaming by 204.4% in the first quarter. BNP Paribas Arbitrage SA now owns 130,275 shares of the company’s stock valued at $8,569,000 after acquiring an additional 87,480 shares during the period. Finally, Penn Capital Management Company LLC grew its position in Boyd Gaming by 2.3% in the first quarter. Penn Capital Management Company LLC now owns 136,298 shares of the company’s stock valued at $9,263,000 after acquiring an additional 3,115 shares during the period. 92.40% of the stock is currently owned by institutional investors.

Boyd Gaming Trading Down 3.6 %

Shares of BYD opened at $51.85 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 1.87. Boyd Gaming Co. has a 12-month low of $47.66 and a 12-month high of $72.72. The firm has a market capitalization of $5.68 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 0.98 and a beta of 1.85. The stock’s fifty day simple moving average is $54.77 and its 200-day simple moving average is $57.83.

Boyd Gaming (NYSE:BYDGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.10. Boyd Gaming had a return on equity of 40.76% and a net margin of 16.03%. During the same quarter last year, the firm earned $1.54 EPS. As a group, research analysts predict that Boyd Gaming Co. will post 5.5 earnings per share for the current year.

Boyd Gaming Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, September 29th. Boyd Gaming’s dividend payout ratio (DPR) is presently 12.12%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barclays assumed coverage on Boyd Gaming in a research report on Tuesday, June 28th. They issued an “overweight” rating and a $63.00 price target on the stock. KeyCorp set a $70.00 price target on Boyd Gaming in a research report on Tuesday, July 19th. Stifel Nicolaus lowered their price target on Boyd Gaming from $84.00 to $73.00 in a research report on Wednesday, July 27th. Deutsche Bank Aktiengesellschaft lowered their price target on Boyd Gaming from $77.00 to $73.00 and set a “buy” rating on the stock in a research report on Wednesday, July 13th. Finally, Wells Fargo & Company increased their target price on Boyd Gaming to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. One analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $75.36.

Boyd Gaming Profile

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Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of December 31, 2021, the company operated 28 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

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Institutional Ownership by Quarter for Boyd Gaming (NYSE:BYD)

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