Axa S.A. Makes New $209,000 Investment in Boyd Gaming Co. (NYSE:BYD)

Axa S.A. acquired a new stake in shares of Boyd Gaming Co. (NYSE:BYD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,876 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds have also recently made changes to their positions in BYD. Barclays PLC boosted its stake in Boyd Gaming by 23.9% during the 3rd quarter. Barclays PLC now owns 167,542 shares of the company’s stock valued at $10,831,000 after purchasing an additional 32,332 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Boyd Gaming during the third quarter valued at approximately $64,000. GAMMA Investing LLC grew its holdings in Boyd Gaming by 47.4% during the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock worth $33,000 after buying an additional 148 shares in the last quarter. Miracle Mile Advisors LLC purchased a new stake in Boyd Gaming in the 4th quarter valued at $306,000. Finally, Burney Co. lifted its stake in Boyd Gaming by 7.7% during the 4th quarter. Burney Co. now owns 29,598 shares of the company’s stock valued at $2,147,000 after acquiring an additional 2,125 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BYD shares. JMP Securities reiterated a “market perform” rating on shares of Boyd Gaming in a research note on Friday, February 7th. JPMorgan Chase & Co. increased their price objective on shares of Boyd Gaming from $74.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Mizuho cut their target price on Boyd Gaming from $86.00 to $83.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Susquehanna increased their price target on Boyd Gaming from $75.00 to $76.00 and gave the company a “positive” rating in a research report on Friday, April 25th. Finally, Truist Financial cut their price objective on Boyd Gaming from $92.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Boyd Gaming currently has a consensus rating of “Moderate Buy” and an average price target of $95.07.

Insider Transactions at Boyd Gaming

In other news, Director Christine J. Spadafor sold 1,125 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $75.28, for a total value of $84,690.00. Following the transaction, the director now owns 4,852 shares of the company’s stock, valued at approximately $365,258.56. This represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William R. Boyd sold 15,000 shares of Boyd Gaming stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total value of $1,189,800.00. Following the sale, the director now directly owns 1,472,970 shares of the company’s stock, valued at $116,835,980.40. This represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,125 shares of company stock valued at $5,158,490. 21.97% of the stock is currently owned by corporate insiders.

Boyd Gaming Stock Performance

Shares of BYD stock opened at $72.04 on Friday. Boyd Gaming Co. has a 12 month low of $49.34 and a 12 month high of $80.50. The stock has a market capitalization of $5.94 billion, a P/E ratio of 11.58, a PEG ratio of 4.46 and a beta of 1.32. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. The firm’s 50 day moving average is $67.17 and its 200 day moving average is $71.56.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.10. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. The firm had revenue of $991.57 million during the quarter, compared to analyst estimates of $976.38 million. During the same period last year, the company earned $1.51 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, sell-side analysts anticipate that Boyd Gaming Co. will post 6.52 earnings per share for the current year.

Boyd Gaming Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Monday, June 16th. Boyd Gaming’s dividend payout ratio is presently 11.75%.

Boyd Gaming Company 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.