Lazard Asset Management LLC Has $2.04 Million Position in Boyd Gaming Co. (NYSE:BYD)

Lazard Asset Management LLC raised its holdings in Boyd Gaming Co. (NYSE:BYD) by 91.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,160 shares of the company’s stock after buying an additional 13,461 shares during the period. Lazard Asset Management LLC’s holdings in Boyd Gaming were worth $2,042,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its stake in Boyd Gaming by 80.3% in the 4th quarter. UMB Bank n.a. now owns 393 shares of the company’s stock valued at $29,000 after buying an additional 175 shares during the last quarter. CoreCap Advisors LLC increased its stake in shares of Boyd Gaming by 91.0% during the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company’s stock worth $42,000 after purchasing an additional 273 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Boyd Gaming in the 4th quarter valued at about $67,000. Investment Counsel Co. of Nevada bought a new stake in shares of Boyd Gaming in the 4th quarter valued at about $73,000. Finally, Allworth Financial LP raised its holdings in shares of Boyd Gaming by 2,735.1% in the 4th quarter. Allworth Financial LP now owns 1,049 shares of the company’s stock valued at $79,000 after purchasing an additional 1,012 shares during the period. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Boyd Gaming Stock Up 0.6%

Boyd Gaming stock opened at $75.90 on Friday. The stock has a market cap of $6.18 billion, a P/E ratio of 12.20, a P/E/G ratio of 4.46 and a beta of 1.32. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $80.50. The company’s 50-day moving average price is $67.78 and its two-hundred day moving average price is $71.77.

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

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.95%. Boyd Gaming’s payout ratio is presently 11.75%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BYD. Truist Financial dropped their target price on shares of Boyd Gaming from $92.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. JPMorgan Chase & Co. upped their target price on shares of Boyd Gaming from $74.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, January 24th. StockNews.com cut shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 27th. Mizuho dropped their target price on shares of Boyd Gaming from $86.00 to $83.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Boyd Gaming in a report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Boyd Gaming has a consensus rating of “Moderate Buy” and a consensus target price of $78.69.

Insiders Place Their Bets

In related news, Director William R. Boyd sold 15,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the sale, the director now owns 1,472,970 shares in the company, valued at approximately $116,835,980.40. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christine J. Spadafor sold 1,125 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $75.28, for a total transaction of $84,690.00. Following the sale, the director now owns 4,852 shares in the company, valued at $365,258.56. This represents a 18.82% decrease in their position. The disclosure for this sale can be found here. Company insiders own 27.94% of the company’s stock.

About Boyd Gaming

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.