AlphaQuest LLC Trims Position in Boyd Gaming Corporation $BYD

AlphaQuest LLC decreased its position in shares of Boyd Gaming Corporation (NYSE:BYD) by 62.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 11,875 shares of the company’s stock after selling 19,861 shares during the period. AlphaQuest LLC’s holdings in Boyd Gaming were worth $929,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BYD. Jacobs Levy Equity Management Inc. purchased a new position in shares of Boyd Gaming during the first quarter valued at approximately $8,976,000. Victory Capital Management Inc. raised its stake in Boyd Gaming by 13.3% during the first quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company’s stock worth $69,036,000 after purchasing an additional 122,822 shares during the period. Gotham Asset Management LLC raised its stake in Boyd Gaming by 39.2% during the first quarter. Gotham Asset Management LLC now owns 346,787 shares of the company’s stock worth $22,829,000 after purchasing an additional 97,703 shares during the period. Allianz Asset Management GmbH raised its stake in Boyd Gaming by 870.3% during the second quarter. Allianz Asset Management GmbH now owns 99,940 shares of the company’s stock worth $7,818,000 after purchasing an additional 89,640 shares during the period. Finally, Northern Trust Corp raised its stake in Boyd Gaming by 14.2% during the first quarter. Northern Trust Corp now owns 682,518 shares of the company’s stock worth $44,930,000 after purchasing an additional 85,087 shares during the period. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Truist Financial increased their price target on shares of Boyd Gaming from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Morgan Stanley reaffirmed a “sell” rating on shares of Boyd Gaming in a research note on Friday, July 11th. JPMorgan Chase & Co. increased their price target on shares of Boyd Gaming from $87.00 to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Boyd Gaming in a research note on Friday. Finally, Zacks Research downgraded shares of Boyd Gaming from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $89.67.

Insider Buying and Selling at Boyd Gaming

In related news, COO Ted Bogich sold 16,497 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $83.18, for a total transaction of $1,372,220.46. Following the completion of the sale, the chief operating officer directly owned 45,116 shares of the company’s stock, valued at approximately $3,752,748.88. This trade represents a 26.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William R. Boyd sold 9,774 shares of the firm’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $81.61, for a total transaction of $797,656.14. Following the sale, the director directly owned 15,188 shares of the company’s stock, valued at approximately $1,239,492.68. The trade was a 39.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 385,438 shares of company stock worth $32,638,085. 21.97% of the stock is currently owned by insiders.

Boyd Gaming Price Performance

Boyd Gaming stock opened at $78.92 on Monday. Boyd Gaming Corporation has a 52-week low of $58.94 and a 52-week high of $88.49. The firm has a fifty day moving average of $84.52 and a 200-day moving average of $79.08. The firm has a market capitalization of $6.33 billion, a P/E ratio of 3.45, a PEG ratio of 2.10 and a beta of 1.30. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.53.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share for the quarter. The business had revenue of $707.32 million during the quarter. Boyd Gaming had a net margin of 46.02% and a return on equity of 41.97%. As a group, analysts predict 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 Wednesday, October 15th. Investors of record on Monday, September 15th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, September 15th. Boyd Gaming’s dividend payout ratio (DPR) is presently 11.08%.

Boyd Gaming 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.