Verition Fund Management LLC Purchases 5,839 Shares of Boyd Gaming Co. (NYSE:BYD)

Verition Fund Management LLC lifted its position in Boyd Gaming Co. (NYSE:BYDGet Rating) by 38.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 21,223 shares of the company’s stock after acquiring an additional 5,839 shares during the period. Verition Fund Management LLC’s holdings in Boyd Gaming were worth $1,396,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. purchased a new position in Boyd Gaming in the 1st quarter worth about $27,000. Prospera Financial Services Inc purchased a new position in Boyd Gaming in the 1st quarter worth about $33,000. Byrne Asset Management LLC purchased a new position in Boyd Gaming in the 4th quarter worth about $34,000. Quent Capital LLC purchased a new position in Boyd Gaming in the 4th quarter worth about $45,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in Boyd Gaming by 55.8% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 944 shares of the company’s stock worth $63,000 after buying an additional 338 shares during the period. Institutional investors own 92.40% of the company’s stock.

Boyd Gaming Stock Down 0.9 %

Shares of Boyd Gaming stock opened at $52.22 on Wednesday. The firm’s 50 day moving average price is $54.89 and its 200-day moving average price is $57.61. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 1.87. Boyd Gaming Co. has a 52-week low of $47.66 and a 52-week high of $72.72. The company has a market cap of $5.72 billion, a P/E ratio of 10.55, a PEG ratio of 0.95 and a beta of 1.85.

Boyd Gaming (NYSE:BYDGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.10. Boyd Gaming had a net margin of 16.03% and a return on equity of 40.76%. During the same period in the prior year, the company posted $1.54 EPS. On average, sell-side analysts predict that Boyd Gaming Co. will post 5.5 EPS for the current fiscal year.

Boyd Gaming Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Friday, September 30th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, September 29th. Boyd Gaming’s payout ratio is 12.12%.

Wall Street Analysts Forecast Growth

BYD has been the topic of several recent analyst reports. Loop Capital initiated coverage on shares of Boyd Gaming in a research note on Monday, July 11th. They issued a “buy” rating and a $86.00 price target on the stock. Truist Financial cut their target price on shares of Boyd Gaming from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, July 20th. Barclays started coverage on shares of Boyd Gaming in a research report on Tuesday, June 28th. They set an “overweight” rating and a $63.00 target price on the stock. KeyCorp set a $70.00 target price on shares of Boyd Gaming in a research report on Tuesday, July 19th. Finally, Stifel Nicolaus cut their target price on shares of Boyd Gaming from $84.00 to $73.00 in a research report on Wednesday, July 27th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $75.36.

Boyd Gaming Profile

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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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