Elo Mutual Pension Insurance Co Purchases Shares of 17,912 Boyd Gaming Corporation $BYD

Elo Mutual Pension Insurance Co acquired a new position in Boyd Gaming Corporation (NYSE:BYD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 17,912 shares of the company’s stock, valued at approximately $1,548,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BYD. First Trust Advisors LP increased its position in shares of Boyd Gaming by 679.7% during the second quarter. First Trust Advisors LP now owns 1,122,869 shares of the company’s stock worth $87,842,000 after purchasing an additional 978,853 shares in the last quarter. Norges Bank acquired a new position in Boyd Gaming during the 2nd quarter valued at about $54,933,000. Wedge Capital Management L L P NC purchased a new stake in Boyd Gaming in the third quarter valued at about $32,304,000. Allianz Asset Management GmbH boosted its holdings in Boyd Gaming by 174.3% in the third quarter. Allianz Asset Management GmbH now owns 274,154 shares of the company’s stock worth $23,701,000 after acquiring an additional 174,214 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in Boyd Gaming by 115.8% in the second quarter. LSV Asset Management now owns 245,100 shares of the company’s stock worth $19,174,000 after acquiring an additional 131,500 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Insider Activity at Boyd Gaming

In related news, insider Stephen S. Thompson sold 19,530 shares of Boyd Gaming stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $83.59, for a total transaction of $1,632,512.70. Following the completion of the transaction, the insider directly owned 22,009 shares in the company, valued at approximately $1,839,732.31. This trade represents a 47.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Josh Hirsberg sold 23,924 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $85.86, for a total value of $2,054,114.64. Following the completion of the sale, the chief financial officer owned 435,746 shares in the company, valued at approximately $37,413,151.56. This represents a 5.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 73,454 shares of company stock worth $6,231,827. 27.94% of the stock is owned by corporate insiders.

Boyd Gaming Stock Down 0.3%

NYSE:BYD opened at $81.97 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.54 and a quick ratio of 0.52. The company’s fifty day moving average price is $85.02 and its 200-day moving average price is $83.83. Boyd Gaming Corporation has a 1-year low of $58.94 and a 1-year high of $89.96. The firm has a market capitalization of $6.19 billion, a P/E ratio of 3.60, a PEG ratio of 1.73 and a beta of 1.20.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, February 5th. The company reported $2.21 EPS for the quarter, beating the consensus estimate of $1.88 by $0.33. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Boyd Gaming had a net margin of 45.05% and a return on equity of 30.14%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.96 earnings per share. As a group, equities research analysts anticipate that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.0%. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, March 16th. Boyd Gaming’s dividend payout ratio is 3.16%.

Wall Street Analysts Forecast Growth

BYD has been the topic of several recent analyst reports. Citigroup began coverage on shares of Boyd Gaming in a report on Thursday, November 20th. They set a “neutral” rating and a $86.00 price objective on the stock. Susquehanna decreased their price target on shares of Boyd Gaming from $90.00 to $89.00 and set a “neutral” rating for the company in a report on Wednesday, February 11th. Stifel Nicolaus lifted their price objective on shares of Boyd Gaming from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, February 6th. Morgan Stanley set a $86.00 target price on Boyd Gaming in a research report on Wednesday, February 11th. Finally, Truist Financial set a $110.00 target price on Boyd Gaming in a research note on Tuesday, January 13th. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Boyd Gaming presently has a consensus rating of “Hold” and a consensus target price of $92.58.

Boyd Gaming Company 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.