Boyd Gaming Corporation $BYD Holdings Lifted by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its stake in shares of Boyd Gaming Corporation (NYSE:BYD) by 4.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,202 shares of the company’s stock after purchasing an additional 650 shares during the period. Exchange Traded Concepts LLC’s holdings in Boyd Gaming were worth $1,189,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BYD. Advisors Asset Management Inc. lifted its holdings in shares of Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after purchasing an additional 196 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 purchasing an additional 313 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Boyd Gaming by 24.5% during the second quarter. Parallel Advisors LLC now owns 685 shares of the company’s stock valued at $54,000 after purchasing an additional 135 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Boyd Gaming by 156.0% during the first quarter. UMB Bank n.a. now owns 1,006 shares of the company’s stock valued at $66,000 after purchasing an additional 613 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Boyd Gaming by 28.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,210 shares of the company’s stock valued at $80,000 after purchasing an additional 265 shares during the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

Boyd Gaming Stock Performance

Shares of NYSE BYD opened at $83.54 on Tuesday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a market cap of $6.70 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 2.36 and a beta of 1.23. The business’s 50-day simple moving average is $84.19 and its 200-day simple moving average is $76.10. Boyd Gaming Corporation has a 52 week low of $58.94 and a 52 week high of $87.83.

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

Boyd Gaming Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. Boyd Gaming’s dividend payout ratio (DPR) is 11.08%.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, Director William R. Boyd sold 9,774 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $81.61, for a total value of $797,656.14. Following the sale, the director owned 15,188 shares of the company’s stock, valued at $1,239,492.68. This trade represents a 39.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Keith Smith sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $85.21, for a total value of $2,130,250.00. Following the completion of the sale, the chief executive officer directly owned 1,046,689 shares in the company, valued at $89,188,369.69. This trade represents a 2.33% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 385,438 shares of company stock worth $32,638,085. Insiders own 21.97% of the company’s stock.

Wall Street Analyst Weigh In

BYD has been the subject of several analyst reports. Stifel Nicolaus upped their target price on Boyd Gaming from $87.00 to $90.00 and gave the company a “hold” rating in a report on Friday, July 25th. Barclays increased their price objective on Boyd Gaming from $73.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. Raymond James Financial reissued an “outperform” rating on shares of Boyd Gaming in a research note on Monday, September 8th. Mizuho increased their price objective on Boyd Gaming from $86.00 to $89.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Finally, Truist Financial increased their price objective on Boyd Gaming from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $87.83.

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.