Allspring Global Investments Holdings LLC Grows Position in Boyd Gaming Corporation (NYSE:BYD)

Allspring Global Investments Holdings LLC raised its stake in shares of Boyd Gaming Corporation (NYSE:BYD) by 23.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 251,145 shares of the company’s stock after purchasing an additional 48,321 shares during the period. Allspring Global Investments Holdings LLC owned 0.30% of Boyd Gaming worth $16,503,000 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. CoreCap Advisors LLC grew its stake in shares of Boyd Gaming by 91.0% during the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company’s stock valued at $42,000 after acquiring an additional 273 shares during the period. GAMMA Investing LLC lifted its holdings in 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 purchasing an additional 313 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Boyd Gaming by 156.0% in the first quarter. UMB Bank n.a. now owns 1,006 shares of the company’s stock worth $66,000 after purchasing an additional 613 shares during the period. Investment Counsel Co. of Nevada purchased a new stake in shares of Boyd Gaming in the fourth quarter worth $73,000. Finally, Golden State Wealth Management LLC increased its stake in shares of Boyd Gaming by 76.9% in the first quarter. Golden State Wealth Management LLC now owns 1,636 shares of the company’s stock worth $108,000 after purchasing an additional 711 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BYD. Morgan Stanley lowered their target price on shares of Boyd Gaming from $75.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Barclays decreased their price target on Boyd Gaming from $78.00 to $73.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Susquehanna upped their price objective on Boyd Gaming from $75.00 to $76.00 and gave the stock a “positive” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. initiated coverage on Boyd Gaming in a research note on Monday, June 23rd. They set a “neutral” rating and a $79.00 target price on the stock. Finally, Raymond James Financial boosted their price target on Boyd Gaming from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.38.

Boyd Gaming Stock Performance

Shares of NYSE:BYD opened at $81.41 on Thursday. The firm has a fifty day simple moving average of $74.15 and a two-hundred day simple moving average of $72.37. Boyd Gaming Corporation has a 52 week low of $52.76 and a 52 week high of $81.56. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 2.57. The stock has a market capitalization of $6.63 billion, a P/E ratio of 13.28, a PEG ratio of 1.01 and a beta of 1.26.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.52 by $0.10. Boyd Gaming had a return on equity of 38.34% and a net margin of 13.96%. The company had revenue of $991.57 million during the quarter, compared to analyst estimates of $976.38 million. During the same quarter last year, the business posted $1.51 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. On average, analysts expect that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, June 16th. Boyd Gaming’s dividend payout ratio is currently 11.75%.

Boyd Gaming Company 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.