Assenagon Asset Management S.A. Makes New $1.96 Million Investment in Boyd Gaming Corporation (NYSE:BYD)

Assenagon Asset Management S.A. purchased a new position in Boyd Gaming Corporation (NYSE:BYD) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 29,815 shares of the company’s stock, valued at approximately $1,963,000.

Several other large investors have also recently made changes to their positions in BYD. CoreCap Advisors LLC raised its stake in shares of Boyd Gaming by 91.0% in the fourth quarter. CoreCap Advisors LLC now owns 573 shares of the company’s stock worth $42,000 after buying an additional 273 shares during the period. Yousif Capital Management LLC boosted its position in shares of Boyd Gaming by 2.0% during the first quarter. Yousif Capital Management LLC now owns 14,016 shares of the company’s stock worth $923,000 after acquiring an additional 278 shares during the last quarter. GAMMA Investing LLC grew its stake in Boyd Gaming by 68.0% during the first quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock valued at $51,000 after acquiring an additional 313 shares in the last quarter. US Bancorp DE lifted its stake in Boyd Gaming by 13.6% in the 4th quarter. US Bancorp DE now owns 2,943 shares of the company’s stock worth $213,000 after purchasing an additional 353 shares in the last quarter. Finally, Keybank National Association OH boosted its holdings in shares of Boyd Gaming by 2.6% during the 4th quarter. Keybank National Association OH now owns 14,039 shares of the company’s stock valued at $1,018,000 after purchasing an additional 362 shares during the last quarter. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Boyd Gaming Stock Performance

Boyd Gaming stock opened at $75.16 on Wednesday. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.80 and a quick ratio of 0.76. The firm has a market capitalization of $6.12 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 0.95 and a beta of 1.26. Boyd Gaming Corporation has a 1-year low of $51.62 and a 1-year high of $80.50. The company’s 50-day moving average is $71.31 and its 200 day moving average is $72.11.

Boyd Gaming (NYSE:BYD) last released its 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. Boyd Gaming had a return on equity of 38.34% and a net margin of 13.96%. The firm had revenue of $991.57 million for the quarter, compared to analysts’ expectations of $976.38 million. During the same quarter in the prior year, the firm posted $1.51 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Research analysts forecast that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.96%. The ex-dividend date is Monday, June 16th. Boyd Gaming’s dividend payout ratio (DPR) is presently 11.75%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Truist Financial decreased their target price on Boyd Gaming from $92.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Stifel Nicolaus upped their price objective on Boyd Gaming from $71.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, June 5th. Mizuho reduced their price target on shares of Boyd Gaming from $86.00 to $83.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Macquarie reiterated a “neutral” rating and set a $74.00 price objective on shares of Boyd Gaming in a research report on Friday, April 25th. Finally, Morgan Stanley decreased their target price on shares of Boyd Gaming from $75.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Boyd Gaming 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.