Wealth Enhancement Advisory Services LLC Purchases 441 Shares of Boyd Gaming Corporation $BYD

Wealth Enhancement Advisory Services LLC grew its stake in shares of Boyd Gaming Corporation (NYSE:BYD) by 11.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,264 shares of the company’s stock after acquiring an additional 441 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Boyd Gaming were worth $348,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. increased 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 acquiring an additional 196 shares in the last quarter. Parallel Advisors LLC increased 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 acquiring an additional 135 shares in the last quarter. GAMMA Investing LLC increased 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 acquiring an additional 313 shares in the last quarter. UMB Bank n.a. increased 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 acquiring an additional 613 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased 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 acquiring an additional 265 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

Insider Transactions at Boyd Gaming

In related news, insider Stephen S. Thompson sold 15,906 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $83.25, for a total value of $1,324,174.50. Following the completion of the transaction, the insider directly owned 38,609 shares of the company’s stock, valued at approximately $3,214,199.25. This represents a 29.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Josh Hirsberg sold 40,035 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $85.41, for a total value of $3,419,389.35. Following the completion of the transaction, the chief financial officer directly owned 420,185 shares of the company’s stock, valued at approximately $35,888,000.85. This represents a 8.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 385,438 shares of company stock worth $32,638,085 in the last quarter. 21.97% of the stock is owned by insiders.

Boyd Gaming Trading Down 2.2%

Shares of NYSE:BYD opened at $83.57 on Wednesday. Boyd Gaming Corporation has a 1 year low of $58.94 and a 1 year high of $88.49. The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 2.40 and a beta of 1.30. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.86 and a quick ratio of 0.82. The business’s 50 day moving average price is $84.73 and its 200-day moving average price is $77.42.

Boyd Gaming (NYSE:BYD) last announced 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. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%.The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $976.81 million. During the same quarter last year, the firm posted $1.58 EPS. The business’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts forecast that Boyd Gaming Corporation 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 Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, September 15th. Boyd Gaming’s dividend payout ratio is currently 11.08%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Truist Financial upped their price objective on shares of Boyd Gaming from $85.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. began coverage on shares of Boyd Gaming in a report on Monday, June 23rd. They set a “neutral” rating and a $79.00 price objective on the stock. Macquarie upped their target price on Boyd Gaming from $74.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Barclays upped their target price on 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, Morgan Stanley reiterated a “sell” rating on shares of Boyd Gaming in a research report on Friday, July 11th. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Boyd Gaming presently has an average rating of “Hold” and a consensus price target of $87.83.

Boyd Gaming 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.