AlphaCrest Capital Management LLC Grows Position in Boyd Gaming Co. (NYSE:BYD)

AlphaCrest Capital Management LLC lifted its holdings in Boyd Gaming Co. (NYSE:BYDGet Rating) by 90.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,831 shares of the company’s stock after buying an additional 17,471 shares during the period. AlphaCrest Capital Management LLC’s holdings in Boyd Gaming were worth $1,832,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC lifted its stake in Boyd Gaming by 1,588.2% in the 2nd quarter. Lazard Asset Management LLC now owns 574 shares of the company’s stock worth $28,000 after purchasing an additional 540 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Boyd Gaming by 50.0% during the second quarter. Geneos Wealth Management Inc. now owns 600 shares of the company’s stock worth $30,000 after buying an additional 200 shares in the last quarter. Spire Wealth Management acquired a new position in Boyd Gaming during the second quarter worth $30,000. Prospera Financial Services Inc purchased a new stake in Boyd Gaming in the 1st quarter valued at $33,000. Finally, MQS Management LLC purchased a new stake in Boyd Gaming in the 2nd quarter valued at $203,000. 92.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Keith Smith sold 64,276 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $59.03, for a total value of $3,794,212.28. Following the sale, the chief executive officer now owns 1,191,014 shares of the company’s stock, valued at $70,305,556.42. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Marianne Boyd Johnson sold 100,000 shares of the stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $57.94, for a total value of $5,794,000.00. Following the transaction, the insider now owns 1,680,774 shares in the company, valued at approximately $97,384,045.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Keith Smith sold 64,276 shares of the firm’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $59.03, for a total value of $3,794,212.28. Following the sale, the chief executive officer now directly owns 1,191,014 shares in the company, valued at approximately $70,305,556.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 284,276 shares of company stock worth $16,442,312. 28.41% of the stock is currently owned by company insiders.

Boyd Gaming Trading Down 1.8 %

NYSE BYD opened at $59.73 on Thursday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.72 and a current ratio of 0.76. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 0.80 and a beta of 1.84. The firm has a 50 day simple moving average of $54.03 and a 200-day simple moving average of $54.39. Boyd Gaming Co. has a one year low of $46.10 and a one year high of $72.72.

Boyd Gaming (NYSE:BYDGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.32 by $0.16. Boyd Gaming had a net margin of 16.41% and a return on equity of 41.21%. The company had revenue of $877.26 million during the quarter, compared to analysts’ expectations of $859.03 million. During the same quarter last year, the company posted $1.30 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. Equities research analysts anticipate that Boyd Gaming Co. will post 5.76 EPS for the current fiscal year.

Boyd Gaming Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, October 15th. Shareholders of record on Friday, September 30th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, September 29th. Boyd Gaming’s dividend payout ratio is currently 11.54%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Morgan Stanley started coverage on shares of Boyd Gaming in a research report on Monday. They set an “underweight” rating and a $54.00 price target on the stock. Wells Fargo & Company decreased their price objective on Boyd Gaming from $77.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, October 21st. Susquehanna Bancshares increased their price objective on Boyd Gaming from $68.00 to $72.00 in a research report on Wednesday, October 26th. StockNews.com upgraded Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 27th. Finally, Stifel Nicolaus lowered their price target on Boyd Gaming from $84.00 to $73.00 in a report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Boyd Gaming currently has an average rating of “Moderate Buy” and an average target price of $70.77.

Boyd Gaming Company Profile

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Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of December 31, 2021, the company operated 28 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

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Institutional Ownership by Quarter for Boyd Gaming (NYSE:BYD)

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