Envestnet Asset Management Inc. Increases Stock Position in Boyd Gaming Corporation $BYD

Envestnet Asset Management Inc. boosted its holdings in shares of Boyd Gaming Corporation (NYSE:BYD) by 78.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 127,303 shares of the company’s stock after buying an additional 55,923 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.16% of Boyd Gaming worth $11,005,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its holdings in Boyd Gaming by 3.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,324,668 shares of the company’s stock worth $103,629,000 after buying an additional 39,905 shares during the period. American Century Companies Inc. raised its position in shares of Boyd Gaming by 11.7% in the 2nd quarter. American Century Companies Inc. now owns 1,213,024 shares of the company’s stock worth $94,895,000 after acquiring an additional 127,167 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Boyd Gaming by 679.7% during the 2nd 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 during the last quarter. Franklin Resources Inc. boosted its position in Boyd Gaming by 3.0% during the second quarter. Franklin Resources Inc. now owns 1,047,415 shares of the company’s stock valued at $81,939,000 after purchasing an additional 30,471 shares in the last quarter. Finally, Norges Bank bought a new stake in Boyd Gaming during the second quarter valued at about $54,933,000. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Stock Up 1.8%

NYSE:BYD opened at $84.71 on Thursday. The company has a current ratio of 0.51, a quick ratio of 0.49 and a debt-to-equity ratio of 0.71. Boyd Gaming Corporation has a twelve month low of $58.94 and a twelve month high of $89.96. The company has a market cap of $6.62 billion, a PE ratio of 3.72, a P/E/G ratio of 1.76 and a beta of 1.24. The company’s 50 day moving average is $85.33 and its two-hundred day moving average is $83.75.

Boyd Gaming (NYSE:BYD) last posted 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 business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Boyd Gaming had a net margin of 45.05% and a return on equity of 33.49%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company posted $1.96 earnings per share. Analysts anticipate that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 15th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.72 dividend on an annualized basis and a yield of 0.8%. Boyd Gaming’s payout ratio is currently 3.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BYD shares. Wells Fargo & Company reduced their target price on shares of Boyd Gaming from $85.00 to $84.00 and set an “equal weight” rating for the company in a report on Monday, February 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Boyd Gaming in a research report on Monday, December 29th. Truist Financial set a $110.00 target price on shares of Boyd Gaming in a research report on Tuesday, January 13th. UBS Group set a $110.00 target price on shares of Boyd Gaming in a research note on Wednesday, December 24th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Boyd Gaming in a report on Wednesday, December 24th. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $92.58.

About Boyd Gaming

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.