Boyd Gaming Corporation $BYD Shares Sold by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. cut its holdings in shares of Boyd Gaming Corporation (NYSE:BYD) by 7.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,548 shares of the company’s stock after selling 3,130 shares during the period. Summit Investment Advisors Inc.’s holdings in Boyd Gaming were worth $2,472,000 as of its most recent SEC filing.

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

Insider Transactions at Boyd Gaming

In other news, Director William R. Boyd sold 9,774 shares of Boyd Gaming stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $81.61, for a total transaction of $797,656.14. Following the transaction, the director directly owned 15,188 shares in the company, valued at approximately $1,239,492.68. This trade represents a 39.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Marianne Boyd Johnson sold 100,000 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $86.62, for a total value of $8,662,000.00. Following the completion of the sale, the chairman directly owned 1,704,379 shares in the company, valued at $147,633,308.98. This represents a 5.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 349,809 shares of company stock worth $29,678,545 in the last three months. 27.94% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BYD shares. Raymond James Financial reissued an “outperform” rating on shares of Boyd Gaming in a research report on Monday, September 8th. Zacks Research lowered Boyd Gaming from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Stifel Nicolaus upped their price objective on Boyd Gaming from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, July 25th. Truist Financial lifted their target price on Boyd Gaming from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Finally, Macquarie reiterated a “neutral” rating and issued a $90.00 price target on shares of Boyd Gaming in a report on Friday, October 24th. Seven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $90.08.

Boyd Gaming Trading Up 1.5%

Shares of BYD stock opened at $81.26 on Monday. Boyd Gaming Corporation has a 1 year low of $58.94 and a 1 year high of $88.49. The firm has a market capitalization of $6.35 billion, a PE ratio of 3.55, a price-to-earnings-growth ratio of 2.02 and a beta of 1.31. The stock has a fifty day moving average of $83.30 and a two-hundred day moving average of $80.16. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data 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, research analysts expect that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 15th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, September 15th. Boyd Gaming’s dividend payout ratio (DPR) is currently 3.15%.

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.