Rhumbline Advisers Has $11.78 Million Stake in Boyd Gaming Co. (NYSE:BYD)

Rhumbline Advisers trimmed its position in shares of Boyd Gaming Co. (NYSE:BYD) by 3.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 178,987 shares of the company’s stock after selling 6,727 shares during the quarter. Rhumbline Advisers owned approximately 0.22% of Boyd Gaming worth $11,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in BYD. Raymond James Financial Inc. acquired a new stake in Boyd Gaming in the 4th quarter valued at approximately $43,273,000. Ameriprise Financial Inc. boosted its stake in Boyd Gaming by 19.1% in the 4th quarter. Ameriprise Financial Inc. now owns 193,768 shares of the company’s stock valued at $14,057,000 after buying an additional 31,130 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Boyd Gaming by 226.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 202,824 shares of the company’s stock valued at $14,569,000 after buying an additional 140,707 shares in the last quarter. Truist Financial Corp boosted its stake in Boyd Gaming by 20.7% in the fourth quarter. Truist Financial Corp now owns 4,458 shares of the company’s stock worth $323,000 after purchasing an additional 765 shares in the last quarter. Finally, GC Wealth Management RIA LLC acquired a new position in Boyd Gaming in the fourth quarter worth $307,000. 76.81% of the stock is owned by institutional investors.

Boyd Gaming Stock Performance

Shares of Boyd Gaming stock opened at $73.92 on Tuesday. The company has a market cap of $6.02 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 4.46 and a beta of 1.26. Boyd Gaming Co. has a 52 week low of $51.62 and a 52 week high of $80.50. The business has a 50 day moving average price of $69.84 and a 200-day moving average price of $72.04. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.10. The company had revenue of $991.57 million during the quarter, compared to the consensus estimate of $976.38 million. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. Boyd Gaming’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the business posted $1.51 earnings per share. Equities analysts anticipate that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.97%. The ex-dividend date is Monday, June 16th. Boyd Gaming’s dividend payout ratio (DPR) is 11.75%.

Analyst Upgrades and Downgrades

BYD has been the subject of a number of recent research reports. Stifel Nicolaus boosted their target price on Boyd Gaming from $71.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, June 5th. Macquarie restated a “neutral” rating and issued a $74.00 price target on shares of Boyd Gaming in a report on Friday, April 25th. Barclays lowered their price target on Boyd Gaming from $78.00 to $73.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Wall Street Zen downgraded Boyd Gaming from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 27th. Finally, Truist Financial decreased their price objective on Boyd Gaming from $92.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.08.

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.