Boyd Gaming Corporation (NYSE:BYD) Shares Sold by Cwm LLC

Cwm LLC trimmed its position in Boyd Gaming Corporation (NYSE:BYD) by 15.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,019 shares of the company’s stock after selling 356 shares during the period. Cwm LLC’s holdings in Boyd Gaming were worth $133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in BYD. Cohen & Steers Inc. grew its position in Boyd Gaming by 0.4% during the 4th quarter. Cohen & Steers Inc. now owns 5,265,454 shares of the company’s stock worth $381,929,000 after purchasing an additional 21,616 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Boyd Gaming by 51.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company’s stock worth $94,074,000 after purchasing an additional 441,963 shares during the period. Franklin Resources Inc. grew its position in Boyd Gaming by 37.2% during the 4th quarter. Franklin Resources Inc. now owns 964,051 shares of the company’s stock worth $69,932,000 after purchasing an additional 261,443 shares during the period. Norges Bank acquired a new stake in Boyd Gaming during the 4th quarter worth about $55,553,000. Finally, Bank of New York Mellon Corp grew its position in Boyd Gaming by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 692,496 shares of the company’s stock worth $45,587,000 after purchasing an additional 7,400 shares during the period. 76.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BYD has been the topic of several analyst reports. Macquarie increased their price target on Boyd Gaming from $74.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday. Barclays increased their price target on Boyd Gaming from $73.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. JPMorgan Chase & Co. assumed coverage on Boyd Gaming in a research report on Monday, June 23rd. They set a “neutral” rating and a $79.00 price target on the stock. Truist Financial increased their target price on shares of Boyd Gaming from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Finally, Mizuho increased their target price on shares of Boyd Gaming from $86.00 to $89.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $86.62.

Boyd Gaming Trading Down 0.7%

Shares of Boyd Gaming stock opened at $85.74 on Wednesday. The firm has a market capitalization of $6.98 billion, a PE ratio of 13.19 and a beta of 1.26. Boyd Gaming Corporation has a twelve month low of $52.76 and a twelve month high of $87.76. The firm’s 50-day moving average price is $78.36 and its 200 day moving average price is $73.79. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 2.57.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, July 24th. The company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.20. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $976.81 million. Boyd Gaming had a net margin of 14.02% and a return on equity of 39.81%. Boyd Gaming’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $1.58 EPS. On average, sell-side analysts predict that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The business 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. This represents a $0.72 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Monday, June 16th. Boyd Gaming’s dividend payout ratio is presently 11.08%.

Boyd Gaming Profile

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.