Farther Finance Advisors LLC Boosts Stake in Boyd Gaming Corporation $BYD

Farther Finance Advisors LLC grew its holdings in shares of Boyd Gaming Corporation (NYSE:BYD) by 294.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,066 shares of the company’s stock after purchasing an additional 2,289 shares during the quarter. Farther Finance Advisors LLC’s holdings in Boyd Gaming were worth $240,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in BYD. Advisors Asset Management Inc. lifted its stake in shares of Boyd Gaming by 56.8% during the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after purchasing an additional 196 shares during the period. GAMMA Investing LLC increased its holdings in shares of Boyd Gaming by 68.0% during the 1st quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock worth $51,000 after buying an additional 313 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Boyd Gaming by 24.5% during the 2nd quarter. Parallel Advisors LLC now owns 685 shares of the company’s stock worth $54,000 after buying an additional 135 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Boyd Gaming by 156.0% during the 1st quarter. UMB Bank n.a. now owns 1,006 shares of the company’s stock worth $66,000 after buying an additional 613 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Boyd Gaming by 28.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,210 shares of the company’s stock worth $80,000 after buying an additional 265 shares during the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Wall Street Analyst Weigh In

BYD has been the subject of a number of research analyst reports. Truist Financial upped their price objective on Boyd Gaming from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Raymond James Financial restated an “outperform” rating on shares of Boyd Gaming in a report on Monday, September 8th. Barclays upped their price objective on Boyd Gaming from $73.00 to $87.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. Stifel Nicolaus increased their price target on Boyd Gaming from $87.00 to $90.00 and gave the company a “hold” rating in a report on Friday, July 25th. Finally, Morgan Stanley reiterated a “sell” rating on shares of Boyd Gaming in a report on Friday, July 11th. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $87.83.

Boyd Gaming Stock Down 1.1%

NYSE:BYD opened at $86.46 on Wednesday. The company has a market capitalization of $6.93 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 2.46 and a beta of 1.23. Boyd Gaming Corporation has a one year low of $58.94 and a one year high of $87.83. The stock has a 50-day simple moving average of $84.61 and a 200 day simple moving average of $76.81. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86.

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

Boyd Gaming Announces Dividend

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 0.8%. Boyd Gaming’s dividend payout ratio (DPR) is currently 11.08%.

Insider Activity at Boyd Gaming

In other news, CEO Keith Smith sold 25,000 shares of Boyd Gaming stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $85.21, for a total transaction of $2,130,250.00. Following the sale, the chief executive officer owned 1,046,689 shares of the company’s stock, valued at approximately $89,188,369.69. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William R. Boyd sold 9,774 shares of Boyd Gaming stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $81.61, for a total value of $797,656.14. Following the sale, the director directly owned 15,188 shares in the company, valued at approximately $1,239,492.68. This trade represents a 39.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 385,438 shares of company stock valued at $32,638,085. Company insiders own 21.97% of the company’s stock.

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.