US Bancorp DE Buys 659 Shares of Boyd Gaming Corporation (NYSE:BYD)

US Bancorp DE grew its stake in Boyd Gaming Corporation (NYSE:BYD) by 22.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,602 shares of the company’s stock after purchasing an additional 659 shares during the quarter. US Bancorp DE’s holdings in Boyd Gaming were worth $237,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. CoreCap Advisors LLC increased its stake in shares of Boyd Gaming by 91.0% in the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company’s stock worth $42,000 after acquiring an additional 273 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Boyd Gaming by 68.0% in the 1st quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock worth $51,000 after acquiring an additional 313 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Boyd Gaming by 156.0% in the 1st quarter. UMB Bank n.a. now owns 1,006 shares of the company’s stock worth $66,000 after acquiring an additional 613 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of Boyd Gaming by 76.9% in the 1st quarter. Golden State Wealth Management LLC now owns 1,636 shares of the company’s stock worth $108,000 after acquiring an additional 711 shares in the last quarter. Finally, Reyes Financial Architecture Inc. bought a new position in shares of Boyd Gaming in the 1st quarter worth about $120,000. 76.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Boyd Gaming

In related news, COO Ted Bogich sold 16,497 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $83.18, for a total value of $1,372,220.46. Following the transaction, the chief operating officer owned 45,116 shares of the company’s stock, valued at approximately $3,752,748.88. This trade represents a 26.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Stephen S. Thompson sold 15,906 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $83.25, for a total transaction of $1,324,174.50. Following the completion of the transaction, the insider directly owned 38,609 shares in the company, valued at approximately $3,214,199.25. The trade was a 29.18% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,403 shares of company stock worth $12,174,196. 27.94% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on BYD. Susquehanna lowered shares of Boyd Gaming from a “positive” rating to a “neutral” rating and increased their price target for the stock from $76.00 to $86.00 in a research note on Friday, July 11th. Mizuho increased their price target on shares of Boyd Gaming from $86.00 to $89.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Raymond James Financial increased their price target on shares of Boyd Gaming from $81.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, June 30th. Barclays increased their price objective on shares of Boyd Gaming from $73.00 to $87.00 and gave the company an “equal weight” rating in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Boyd Gaming in a research report on Monday, June 23rd. They set a “neutral” rating and a $79.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $86.62.

Boyd Gaming Stock Performance

Shares of NYSE BYD opened at $83.95 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.53. The company has a market cap of $6.73 billion, a PE ratio of 12.92, a PEG ratio of 2.38 and a beta of 1.24. The firm’s 50-day moving average price is $80.62 and its 200-day moving average price is $74.53. Boyd Gaming Corporation has a 52-week low of $57.06 and a 52-week high of $87.76.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.20. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $976.81 million. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.58 earnings per share. As a group, analysts anticipate that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. Boyd Gaming’s payout ratio is 11.08%.

Boyd Gaming Company Profile

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.