Invst LLC Makes New $580,000 Investment in Boyd Gaming Corporation $BYD

Invst LLC bought a new stake in shares of Boyd Gaming Corporation (NYSE:BYD) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,817 shares of the company’s stock, valued at approximately $580,000.

A number of other institutional investors have also recently modified their holdings of the business. Victory Capital Management Inc. grew its position in shares of Boyd Gaming by 13.3% during the 1st quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company’s stock valued at $69,036,000 after acquiring an additional 122,822 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Boyd Gaming by 0.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 983,823 shares of the company’s stock worth $64,765,000 after purchasing an additional 8,850 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Boyd Gaming by 1.1% in 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 in the last quarter. Northern Trust Corp lifted its stake in Boyd Gaming by 14.2% in the 1st quarter. Northern Trust Corp now owns 682,518 shares of the company’s stock worth $44,930,000 after purchasing an additional 85,087 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its stake in Boyd Gaming by 7.5% in the 1st quarter. Raymond James Financial Inc. now owns 641,104 shares of the company’s stock worth $42,204,000 after purchasing an additional 44,558 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Ted Bogich sold 16,497 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $83.18, for a total value of $1,372,220.46. Following the completion of the sale, the chief operating officer directly owned 45,116 shares of the company’s stock, valued at approximately $3,752,748.88. This represents a 26.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Keith Smith sold 25,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $85.21, for a total transaction of $2,130,250.00. Following the completion of the sale, the chief executive officer directly owned 1,046,689 shares of the company’s stock, valued at $89,188,369.69. The trade was a 2.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 385,438 shares of company stock valued at $32,638,085. 27.94% of the stock is owned by insiders.

Boyd Gaming Stock Performance

Shares of BYD stock opened at $84.76 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53. The firm has a fifty day moving average price of $84.10 and a 200 day moving average price of $75.67. The company has a market cap of $6.80 billion, a P/E ratio of 13.04, a PEG ratio of 2.43 and a beta of 1.23. Boyd Gaming Corporation has a 12 month low of $58.94 and a 12 month high of $87.83.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, July 24th. The company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.20. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $976.81 million. During the same quarter in the previous year, the firm posted $1.58 earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. Sell-side analysts predict that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, September 15th. Boyd Gaming’s dividend payout ratio is presently 11.08%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BYD. Truist Financial lifted their price target on shares of Boyd Gaming from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Macquarie lifted their price target on shares of Boyd Gaming from $74.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Barclays lifted their price target on shares of Boyd Gaming from $73.00 to $87.00 and gave the company an “equal weight” rating in a research report on Friday, July 18th. Susquehanna lowered shares of Boyd Gaming from a “positive” rating to a “neutral” rating and lifted their price target for the company from $76.00 to $86.00 in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. began coverage on shares of Boyd Gaming in a research report on Monday, June 23rd. They set a “neutral” rating and a $79.00 price target on the stock. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $86.62.

About Boyd Gaming

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.