Cerity Partners LLC Acquires Shares of 6,139 Boyd Gaming Co. (NYSE:BYD)

Cerity Partners LLC acquired a new stake in shares of Boyd Gaming Co. (NYSE:BYDGet Rating) during the second quarter, Holdings Channel reports. The firm acquired 6,139 shares of the company’s stock, valued at approximately $305,000.

A number of other institutional investors also recently added to or reduced their stakes in BYD. Whittier Trust Co. acquired a new stake in Boyd Gaming during the first quarter valued at approximately $27,000. Lazard Asset Management LLC boosted its holdings in shares of Boyd Gaming by 1,588.2% in the 2nd quarter. Lazard Asset Management LLC now owns 574 shares of the company’s stock worth $28,000 after acquiring an additional 540 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Boyd Gaming by 50.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 600 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares in the last quarter. Spire Wealth Management acquired a new position in shares of Boyd Gaming in the 2nd quarter worth approximately $30,000. Finally, Prospera Financial Services Inc acquired a new position in shares of Boyd Gaming in the 1st quarter worth approximately $33,000. 92.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BYD has been the topic of several recent analyst reports. Stifel Nicolaus reduced their target price on Boyd Gaming from $84.00 to $73.00 in a report on Wednesday, July 27th. JMP Securities boosted their target price on Boyd Gaming from $65.00 to $67.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 26th. Barclays boosted their price objective on shares of Boyd Gaming from $65.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 26th. StockNews.com upgraded shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 27th. Finally, Truist Financial dropped their price objective on shares of Boyd Gaming from $80.00 to $79.00 and set a “buy” rating for the company in a research report on Tuesday, October 25th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Boyd Gaming has an average rating of “Buy” and a consensus target price of $72.46.

Boyd Gaming Stock Performance

Shares of Boyd Gaming stock opened at $60.27 on Monday. The firm has a fifty day moving average of $53.76 and a two-hundred day moving average of $54.33. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 0.82 and a beta of 1.84. Boyd Gaming Co. has a 52 week low of $46.10 and a 52 week high of $72.72. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.72 and a current ratio of 0.76.

Boyd Gaming (NYSE:BYDGet Rating) last issued its earnings results on Tuesday, October 25th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.32 by $0.16. The company had revenue of $877.26 million during the quarter, compared to analysts’ expectations of $859.03 million. Boyd Gaming had a net margin of 16.41% and a return on equity of 41.21%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 EPS. As a group, equities research analysts predict that Boyd Gaming Co. will post 5.76 EPS for the current year.

Boyd Gaming Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, October 15th. Shareholders of record on Friday, September 30th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Thursday, September 29th. Boyd Gaming’s payout ratio is 11.54%.

Insider Buying and Selling at Boyd Gaming

In related news, insider Marianne Boyd Johnson sold 100,000 shares of the company’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $57.94, for a total value of $5,794,000.00. Following the completion of the sale, the insider now owns 1,680,774 shares in the company, valued at approximately $97,384,045.56. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Marianne Boyd Johnson sold 100,000 shares of the company’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $57.94, for a total value of $5,794,000.00. Following the completion of the sale, the insider now owns 1,680,774 shares in the company, valued at approximately $97,384,045.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP William R. Boyd sold 50,000 shares of the company’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $55.58, for a total transaction of $2,779,000.00. Following the completion of the sale, the vice president now owns 1,744,522 shares of the company’s stock, valued at approximately $96,960,532.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 284,276 shares of company stock worth $16,442,312. Insiders own 27.94% of the company’s stock.

Boyd Gaming Company Profile

(Get Rating)

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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