Park Avenue Securities LLC Takes $814,000 Position in Boyd Gaming Corporation $BYD

Park Avenue Securities LLC acquired a new stake in Boyd Gaming Corporation (NYSE:BYD) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,417 shares of the company’s stock, valued at approximately $814,000.

Other hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its stake in shares of Boyd Gaming by 56.8% in the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after acquiring an additional 196 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Boyd Gaming by 13.9% in the first quarter. AQR Capital Management LLC now owns 9,623 shares of the company’s stock valued at $628,000 after purchasing an additional 1,172 shares during the period. Caxton Associates LLP purchased a new position in Boyd Gaming in the first quarter valued at $207,000. Parallel Advisors LLC grew its stake in Boyd Gaming by 24.5% during the 2nd quarter. Parallel Advisors LLC now owns 685 shares of the company’s stock worth $54,000 after purchasing an additional 135 shares in the last quarter. Finally, Aaron Wealth Advisors LLC increased its holdings in Boyd Gaming by 8.8% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 4,282 shares of the company’s stock worth $335,000 after purchasing an additional 348 shares during the period. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BYD. Jefferies Financial Group reiterated a “buy” rating on shares of Boyd Gaming in a research note on Wednesday, December 24th. JPMorgan Chase & Co. raised their target price on shares of Boyd Gaming from $87.00 to $89.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Truist Financial set a $110.00 price target on shares of Boyd Gaming in a research note on Tuesday. Zacks Research cut shares of Boyd Gaming from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Finally, Macquarie reissued a “neutral” rating and issued a $90.00 price objective on shares of Boyd Gaming in a research report on Friday, October 24th. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $91.83.

Insider Activity

In other news, Director William R. Boyd sold 20,000 shares of Boyd Gaming stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the sale, the director owned 1,960,447 shares in the company, valued at approximately $157,541,520.92. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 27.94% of the company’s stock.

Boyd Gaming Stock Performance

Shares of BYD opened at $87.41 on Thursday. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 3.82, a price-to-earnings-growth ratio of 1.59 and a beta of 1.22. Boyd Gaming Corporation has a 52-week low of $58.94 and a 52-week high of $89.50. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average price of $83.63 and a 200 day moving average price of $83.47.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, October 23rd. The company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.15. Boyd Gaming had a net margin of 46.02% and a return on equity of 34.63%. The company had revenue of $726.95 million for the quarter, compared to analysts’ expectations of $873.09 million. During the same quarter last year, the company earned $1.52 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts predict that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, December 15th. Boyd Gaming’s dividend payout ratio is currently 3.15%.

Boyd Gaming 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.