Sigma Planning Corp Boosts Stake in Boyd Gaming Corporation $BYD

Sigma Planning Corp lifted its holdings in Boyd Gaming Corporation (NYSE:BYD) by 15.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,388 shares of the company’s stock after purchasing an additional 1,006 shares during the period. Sigma Planning Corp’s holdings in Boyd Gaming were worth $578,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of BYD. Victory Capital Management Inc. boosted its position in Boyd Gaming by 13.3% during the first quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company’s stock worth $69,036,000 after purchasing an additional 122,822 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Boyd Gaming by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 983,823 shares of the company’s stock worth $64,765,000 after buying an additional 8,850 shares during the period. Bank of New York Mellon Corp raised its stake in shares of 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 buying an additional 7,400 shares during the period. Northern Trust Corp lifted its position in shares of Boyd Gaming by 14.2% during the 1st quarter. Northern Trust Corp now owns 682,518 shares of the company’s stock valued at $44,930,000 after buying an additional 85,087 shares in the last quarter. Finally, Raymond James Financial Inc. grew 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 valued at $42,204,000 after acquiring an additional 44,558 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

Insider Buying and Selling

In other news, Director William R. Boyd sold 9,774 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $81.61, for a total value of $797,656.14. Following the completion of the sale, the director directly owned 15,188 shares in the company, valued at $1,239,492.68. This represents a 39.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Josh Hirsberg sold 40,035 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $85.41, for a total value of $3,419,389.35. Following the completion of the sale, the chief financial officer directly owned 420,185 shares of the company’s stock, valued at approximately $35,888,000.85. This represents a 8.70% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 353,035 shares of company stock valued at $29,941,690. 27.94% of the stock is currently owned by company insiders.

Boyd Gaming Price Performance

Boyd Gaming stock opened at $81.26 on Friday. The company has a fifty day simple moving average of $83.30 and a 200-day simple moving average of $79.97. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 3.55, a PEG ratio of 2.02 and a beta of 1.31. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.53. Boyd Gaming Corporation has a 52-week low of $58.94 and a 52-week high of $88.49.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share for the quarter. Boyd Gaming had a net margin of 46.02% and a return on equity of 41.97%. The firm had revenue of $707.32 million for the quarter. On average, equities analysts anticipate that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, September 15th. Boyd Gaming’s payout ratio is currently 3.15%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BYD shares. Morgan Stanley boosted their price target on shares of Boyd Gaming from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. Stifel Nicolaus boosted their target price on shares of Boyd Gaming from $87.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, July 25th. Truist Financial upped their price target on shares of Boyd Gaming from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Barclays raised 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 note on Friday, July 18th. Finally, Zacks Research lowered Boyd Gaming from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Seven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $90.08.

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.