Cresset Asset Management LLC Acquires 9,768 Shares of Boyd Gaming Corporation $BYD

Cresset Asset Management LLC grew its stake in Boyd Gaming Corporation (NYSE:BYD) by 296.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,058 shares of the company’s stock after purchasing an additional 9,768 shares during the period. Cresset Asset Management LLC’s holdings in Boyd Gaming were worth $1,131,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Boyd Gaming by 219.8% in 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. acquired a new position in Boyd Gaming during the second quarter worth $39,000. True Wealth Design LLC lifted its holdings in shares of Boyd Gaming by 162.1% during the third quarter. True Wealth Design LLC now owns 532 shares of the company’s stock valued at $46,000 after acquiring an additional 329 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after purchasing an additional 196 shares in the last quarter. Finally, SJS Investment Consulting Inc. acquired a new stake in shares of Boyd Gaming in the 3rd quarter valued at $48,000. 76.81% of the stock is owned by institutional investors and hedge funds.

Boyd Gaming Stock Performance

Shares of Boyd Gaming stock opened at $80.50 on Tuesday. The firm has a fifty day moving average of $84.78 and a two-hundred day moving average of $83.79. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.52 and a current ratio of 0.54. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of 3.54, a PEG ratio of 1.69 and a beta of 1.20. Boyd Gaming Corporation has a 52 week low of $58.94 and a 52 week high of $89.96.

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

Boyd Gaming Increases Dividend

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

Insider Buying and Selling

In other Boyd Gaming news, Director William R. Boyd sold 30,000 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $84.84, for a total value of $2,545,200.00. Following the sale, the director directly owned 1,930,447 shares in the company, valued at approximately $163,779,123.48. This trade represents a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephen S. Thompson sold 19,530 shares of Boyd Gaming stock in a transaction 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 transaction, the insider directly owned 22,009 shares in the company, valued at approximately $1,839,732.31. This represents a 47.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 73,454 shares of company stock valued at $6,231,827 in the last 90 days. 21.97% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on BYD. Susquehanna dropped their target price on shares of Boyd Gaming from $90.00 to $89.00 and set a “neutral” rating for the company in a research report on Wednesday, February 11th. Truist Financial set a $110.00 price objective on shares of Boyd Gaming in a research note on Tuesday, January 13th. Morgan Stanley set a $86.00 price objective on shares of Boyd Gaming in a report on Wednesday, February 11th. UBS Group set a $110.00 target price on shares of Boyd Gaming in a research note on Wednesday, December 24th. Finally, Citigroup assumed coverage on Boyd Gaming in a research report on Thursday, November 20th. They set a “neutral” rating and a $86.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.