Swiss National Bank Reduces Stake in Boyd Gaming Co. (NYSE:BYD)

Swiss National Bank lowered its position in Boyd Gaming Co. (NYSE:BYDGet Rating) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 198,500 shares of the company’s stock after selling 800 shares during the period. Swiss National Bank’s holdings in Boyd Gaming were worth $9,875,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. bought a new position in shares of Boyd Gaming in the 1st quarter worth approximately $27,000. Lazard Asset Management LLC raised its position 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. raised its position 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 bought a new position in shares of Boyd Gaming in the 2nd quarter worth approximately $30,000. Finally, Prospera Financial Services Inc bought a new position in shares of Boyd Gaming in the 1st quarter worth approximately $33,000. Institutional investors own 92.40% of the company’s stock.

Analysts Set New Price Targets

BYD has been the subject of several research reports. Barclays increased their target price on Boyd Gaming from $65.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 26th. JMP Securities raised their price objective on Boyd Gaming from $65.00 to $67.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 26th. StockNews.com raised Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 27th. Stifel Nicolaus reduced their price objective on Boyd Gaming from $84.00 to $73.00 in a research report on Wednesday, July 27th. Finally, Wells Fargo & Company reduced their price objective on Boyd Gaming from $77.00 to $70.00 and set an “overweight” rating for the company in a research report on Friday, October 21st. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $72.46.

Boyd Gaming Stock Up 1.5 %

Boyd Gaming stock opened at $60.27 on Monday. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 0.82 and a beta of 1.84. The stock has a fifty day simple moving average of $53.76 and a two-hundred day simple moving average of $54.33. Boyd Gaming Co. has a 12 month low of $46.10 and a 12 month high of $72.72. The company has a current ratio of 0.76, a quick ratio of 0.72 and a debt-to-equity ratio of 1.83.

Boyd Gaming (NYSE:BYDGet Rating) last released its quarterly earnings results on Tuesday, October 25th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.16. The firm had revenue of $877.26 million for the quarter, compared to the consensus estimate of $859.03 million. Boyd Gaming had a return on equity of 41.21% and a net margin of 16.41%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the business posted $1.30 EPS. Equities analysts predict that Boyd Gaming Co. will post 5.76 EPS for the current fiscal year.

Boyd Gaming Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, October 15th. Stockholders of record on Friday, September 30th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.00%. Boyd Gaming’s dividend payout ratio (DPR) is currently 11.54%.

Insider Transactions at Boyd Gaming

In other news, VP William R. Boyd sold 20,000 shares of the firm’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $60.08, for a total value of $1,201,600.00. Following the transaction, the vice president now directly owns 30,634 shares in the company, valued at approximately $1,840,490.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP William R. Boyd sold 20,000 shares of Boyd Gaming stock in a transaction on Friday, November 11th. The stock was sold at an average price of $60.08, for a total transaction of $1,201,600.00. Following the transaction, the vice president now directly owns 30,634 shares in the company, valued at $1,840,490.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William R. Boyd sold 50,000 shares of Boyd Gaming stock in a transaction on Friday, November 4th. The shares were sold at an average price of $55.58, for a total value of $2,779,000.00. Following the transaction, the vice president now owns 1,744,522 shares in the company, valued at $96,960,532.76. The disclosure for this sale can be found here. Insiders have sold a total of 284,276 shares of company stock worth $16,442,312 in the last ninety days. Insiders own 27.94% of the company’s stock.

About Boyd Gaming

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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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