AlphaQuest LLC Sells 9,651 Shares of Boyd Gaming Corporation $BYD

AlphaQuest LLC lessened its stake in shares of Boyd Gaming Corporation (NYSE:BYD) by 81.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,224 shares of the company’s stock after selling 9,651 shares during the quarter. AlphaQuest LLC’s holdings in Boyd Gaming were worth $192,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BYD. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Boyd Gaming by 219.8% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock valued at $29,000 after buying an additional 255 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Boyd Gaming in the 2nd quarter worth approximately $39,000. True Wealth Design LLC boosted its holdings in Boyd Gaming by 162.1% in the 3rd quarter. True Wealth Design LLC now owns 532 shares of the company’s stock valued at $46,000 after purchasing an additional 329 shares during the period. Advisors Asset Management Inc. increased its stake in Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after acquiring an additional 196 shares during the last quarter. Finally, SJS Investment Consulting Inc. purchased a new stake in shares of Boyd Gaming in the 3rd quarter valued at about $48,000. Institutional investors own 76.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BYD. JPMorgan Chase & Co. upped their target price on shares of Boyd Gaming from $87.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Mizuho set a $100.00 target price on Boyd Gaming in a research note on Monday, February 2nd. Truist Financial set a $110.00 price objective on shares of Boyd Gaming in a report on Tuesday, January 13th. Wells Fargo & Company decreased their target price on shares of Boyd Gaming from $85.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, UBS Group set a $110.00 target price on Boyd Gaming in a research note on Wednesday, December 24th. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Boyd Gaming has an average rating of “Hold” and a consensus target price of $92.58.

Boyd Gaming Price Performance

BYD opened at $83.45 on Thursday. The firm has a market cap of $6.52 billion, a PE ratio of 3.67, a P/E/G ratio of 1.79 and a beta of 1.24. The stock has a 50-day moving average price of $85.12 and a 200-day moving average price of $83.84. Boyd Gaming Corporation has a 1 year low of $58.94 and a 1 year high of $89.96. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.51 and a quick ratio of 0.49.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, February 5th. The company reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.33. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Boyd Gaming had a return on equity of 33.49% and a net margin of 45.05%.The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the business posted $1.96 EPS. Sell-side analysts predict that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 15th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, December 15th. Boyd Gaming’s payout ratio is presently 3.16%.

Boyd Gaming Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.