Vanguard Group Inc. Has $401.07 Million Stock Position in Boyd Gaming Corporation (NYSE:BYD)

Vanguard Group Inc. lowered its position in shares of Boyd Gaming Corporation (NYSE:BYD) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,092,553 shares of the company’s stock after selling 265,670 shares during the quarter. Vanguard Group Inc. owned 7.38% of Boyd Gaming worth $401,073,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in Boyd Gaming by 13.3% during the 1st quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company’s stock worth $69,036,000 after acquiring an additional 122,822 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Boyd Gaming by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 692,496 shares of the company’s stock worth $45,587,000 after acquiring an additional 7,400 shares during the last quarter. Northern Trust Corp boosted its position in Boyd Gaming by 14.9% during the 4th quarter. Northern Trust Corp now owns 597,431 shares of the company’s stock worth $43,338,000 after acquiring an additional 77,619 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Boyd Gaming by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 411,881 shares of the company’s stock worth $29,877,000 after acquiring an additional 4,925 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Boyd Gaming by 1.2% during the 4th quarter. First Trust Advisors LP now owns 382,003 shares of the company’s stock worth $27,710,000 after acquiring an additional 4,684 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Truist Financial upped their price objective on Boyd Gaming from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. assumed coverage on Boyd Gaming in a research note on Monday, June 23rd. They set a “neutral” rating and a $79.00 price objective on the stock. Raymond James Financial upped their price objective on Boyd Gaming from $81.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, June 30th. Susquehanna cut Boyd Gaming from a “positive” rating to a “neutral” rating and upped their price objective for the stock from $76.00 to $86.00 in a research note on Friday, July 11th. Finally, Barclays upped their price objective on Boyd Gaming from $73.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Boyd Gaming currently has a consensus rating of “Hold” and a consensus price target of $86.62.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, Director William R. Boyd sold 9,774 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $81.61, for a total value of $797,656.14. Following the transaction, the director directly owned 15,188 shares of the company’s stock, valued at $1,239,492.68. This represents a 39.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Ted Bogich sold 16,497 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $83.18, for a total value of $1,372,220.46. Following the completion of the transaction, the chief operating officer directly owned 45,116 shares in the company, valued at approximately $3,752,748.88. This represents a 26.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 145,403 shares of company stock valued at $12,174,196. Corporate insiders own 27.94% of the company’s stock.

Boyd Gaming Stock Down 1.5%

BYD opened at $82.67 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53. The stock’s fifty day simple moving average is $80.80 and its 200 day simple moving average is $74.57. Boyd Gaming Corporation has a 1-year low of $57.19 and a 1-year high of $87.76. The stock has a market cap of $6.63 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 2.37 and a beta of 1.24.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.20. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $976.81 million. During the same period in the prior year, the firm posted $1.58 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts expect that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Monday, September 15th. Boyd Gaming’s dividend payout ratio is currently 11.08%.

About Boyd Gaming

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.