Van ECK Associates Corp Has $1.30 Million Holdings in Boyd Gaming Co. (NYSE:BYD)

Van ECK Associates Corp cut its stake in Boyd Gaming Co. (NYSE:BYDGet Rating) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,180 shares of the company’s stock after selling 555 shares during the period. Van ECK Associates Corp’s holdings in Boyd Gaming were worth $1,295,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC raised its stake in shares of Boyd Gaming by 1,588.2% in the second quarter. Lazard Asset Management LLC now owns 574 shares of the company’s stock worth $28,000 after acquiring an additional 540 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Boyd Gaming by 50.0% during the second quarter. Geneos Wealth Management Inc. now owns 600 shares of the company’s stock worth $30,000 after buying an additional 200 shares during the last quarter. Spire Wealth Management bought a new stake in shares of Boyd Gaming during the second quarter worth approximately $30,000. Allworth Financial LP raised its stake in shares of Boyd Gaming by 20,983.3% during the third quarter. Allworth Financial LP now owns 1,265 shares of the company’s stock worth $60,000 after buying an additional 1,259 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in shares of Boyd Gaming during the second quarter worth approximately $122,000. 68.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 27th. Susquehanna boosted their price target on shares of Boyd Gaming from $68.00 to $72.00 in a research note on Wednesday, October 26th. Barclays upped their target price on shares of Boyd Gaming from $65.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday, October 26th. JMP Securities downgraded shares of Boyd Gaming from an “outperform” rating to a “market perform” rating in a research note on Monday, December 12th. Finally, Wells Fargo & Company lowered their target price on shares of Boyd Gaming from $77.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, October 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.85.

Boyd Gaming Stock Performance

Shares of BYD opened at $58.42 on Monday. Boyd Gaming Co. has a 12 month low of $46.10 and a 12 month high of $72.72. The firm has a fifty day simple moving average of $57.78 and a 200 day simple moving average of $54.98. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 0.93 and a beta of 1.83. The company has a current ratio of 0.76, a quick ratio of 0.72 and a debt-to-equity ratio of 1.83.

Boyd Gaming (NYSE:BYDGet Rating) last announced its earnings results on Tuesday, October 25th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.28 by $0.20. The business had revenue of $877.26 million during the quarter, compared to analysts’ expectations of $859.03 million. Boyd Gaming had a net margin of 16.41% and a return on equity of 41.21%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.30 earnings per share. Research analysts forecast that Boyd Gaming Co. will post 5.77 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, January 15th. Shareholders of record on Monday, December 19th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Friday, December 16th. Boyd Gaming’s dividend payout ratio is currently 11.54%.

Insider Buying and Selling at Boyd Gaming

In other news, CEO Keith Smith sold 64,276 shares of the stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $59.03, for a total value of $3,794,212.28. Following the transaction, the chief executive officer now directly owns 1,191,014 shares of the company’s stock, valued at $70,305,556.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP William R. Boyd sold 20,000 shares of the stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $60.08, for a total value of $1,201,600.00. Following the transaction, the vice president now directly owns 30,634 shares of the company’s stock, valued at $1,840,490.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Keith Smith sold 64,276 shares of the firm’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $59.03, for a total transaction of $3,794,212.28. Following the transaction, the chief executive officer now directly owns 1,191,014 shares in the company, valued at $70,305,556.42. The disclosure for this sale can be found here. Insiders sold a total of 605,286 shares of company stock worth $35,316,575 over the last quarter. 27.94% of the stock is currently owned by insiders.

Boyd Gaming Company 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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