Swiss National Bank Sells 1,400 Shares of Boyd Gaming Co. (NYSE:BYD)

Swiss National Bank lowered its position in Boyd Gaming Co. (NYSE:BYD – Get Rating) by 0.7% during the 4th quarter, HoldingsChannel reports. The firm owned 193,500 shares of the company’s stock after selling 1,400 shares during the period. Swiss National Bank’s holdings in Boyd Gaming were worth $10,552,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BYD. Duality Advisers LP bought a new position in Boyd Gaming in the 3rd quarter worth about $1,005,000. Nisa Investment Advisors LLC grew its position in Boyd Gaming by 371.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 138,321 shares of the company’s stock worth $7,543,000 after acquiring an additional 109,000 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Boyd Gaming by 5.6% in the third quarter. Russell Investments Group Ltd. now owns 241,491 shares of the company’s stock valued at $11,512,000 after acquiring an additional 12,819 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Boyd Gaming by 36.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 41,421 shares of the company’s stock worth $1,973,000 after purchasing an additional 10,970 shares during the last quarter. Finally, Bwcp LP increased its position in shares of Boyd Gaming by 29.1% during the 3rd quarter. Bwcp LP now owns 275,295 shares of the company’s stock valued at $15,901,000 after purchasing an additional 61,979 shares during the last quarter. Hedge funds and other institutional investors own 68.68% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on BYD shares. Morgan Stanley increased their price target on shares of Boyd Gaming from $60.00 to $62.00 and gave the company an “underweight” rating in a research report on Wednesday, March 1st. Truist Financial boosted their price target on shares of Boyd Gaming from $83.00 to $85.00 in a research note on Wednesday, April 26th. Wells Fargo & Company raised their price objective on Boyd Gaming from $73.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Barclays increased their target price on Boyd Gaming from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, April 21st. Finally, CBRE Group upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Friday, February 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Boyd Gaming currently has an average rating of “Moderate Buy” and a consensus price target of $75.29.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, insider William S. Boyd sold 73,000 shares of the business’s stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $67.11, for a total value of $4,899,030.00. Following the sale, the insider now directly owns 14,097,372 shares of the company’s stock, valued at $946,074,634.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Boyd Gaming news, insider William S. Boyd sold 39,525 shares of Boyd Gaming stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $64.52, for a total value of $2,550,153.00. Following the completion of the transaction, the insider now directly owns 14,102,224 shares of the company’s stock, valued at $909,875,492.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William S. Boyd sold 73,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $67.11, for a total transaction of $4,899,030.00. Following the completion of the transaction, the insider now owns 14,097,372 shares in the company, valued at approximately $946,074,634.92. The disclosure for this sale can be found here. Insiders sold a total of 196,334 shares of company stock valued at $12,967,175 in the last 90 days. Corporate insiders own 27.94% of the company’s stock.

Boyd Gaming Price Performance

BYD opened at $68.39 on Tuesday. Boyd Gaming Co. has a 12-month low of $46.10 and a 12-month high of $71.69. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 1.66 and a beta of 1.78. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89. The stock has a fifty day simple moving average of $64.93 and a two-hundred day simple moving average of $61.72.

Boyd Gaming (NYSE:BYD – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.20. The company had revenue of $963.97 million during the quarter, compared to analysts’ expectations of $889.59 million. Boyd Gaming had a net margin of 18.48% and a return on equity of 43.89%. Boyd Gaming’s revenue was up 12.0% on a year-over-year basis. During the same period last year, the company posted $1.40 EPS. Research analysts predict that Boyd Gaming Co. will post 6.24 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Thursday, June 15th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.64 annualized dividend and a dividend yield of 0.94%. Boyd Gaming’s payout ratio is currently 10.08%.

About Boyd Gaming

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Boyd Gaming Corp. is a multi-jurisdictional gaming company, which engages in the management and operation of gaming and entertainment properties. It operates through the following segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South. The Las Vegas Locals segment consists of eight casinos that primarily serve the resident population in the Las Vegas metropolitan area.