3,500 Shares in Boyd Gaming Corporation $BYD Purchased by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. purchased a new position in shares of Boyd Gaming Corporation (NYSE:BYD) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,500 shares of the company’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Victory Capital Management Inc. grew its holdings 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. Charles Schwab Investment Management Inc. grew its holdings in Boyd Gaming by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 983,823 shares of the company’s stock worth $64,765,000 after purchasing an additional 8,850 shares during the period. Bank of New York Mellon Corp grew its holdings in Boyd Gaming by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 692,496 shares of the company’s stock worth $45,587,000 after purchasing an additional 7,400 shares during the period. Raymond James Financial Inc. grew its holdings in Boyd Gaming by 7.5% during the first quarter. Raymond James Financial Inc. now owns 641,104 shares of the company’s stock worth $42,204,000 after purchasing an additional 44,558 shares during the period. Finally, Northern Trust Corp grew its holdings in Boyd Gaming by 14.9% during the fourth quarter. Northern Trust Corp now owns 597,431 shares of the company’s stock worth $43,338,000 after purchasing an additional 77,619 shares during the period. Institutional investors own 76.81% of the company’s stock.

Insider Activity

In other Boyd Gaming news, Director William R. Boyd sold 9,774 shares of the stock in a transaction that occurred 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 transaction, the director owned 15,188 shares in the company, valued at $1,239,492.68. This represents a 39.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Ted Bogich sold 16,497 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $83.18, for a total transaction of $1,372,220.46. Following the transaction, the chief operating officer owned 45,116 shares in the company, valued at approximately $3,752,748.88. The trade was a 26.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 220,403 shares of company stock worth $18,426,446. Insiders own 27.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BYD. Mizuho lifted their price target on Boyd Gaming from $86.00 to $89.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Morgan Stanley reiterated a “sell” rating on shares of Boyd Gaming in a research note on Friday, July 11th. Susquehanna lowered shares of Boyd Gaming from a “positive” rating to a “neutral” rating and upped their price target for the company from $76.00 to $86.00 in a research note on Friday, July 11th. Truist Financial upped their price target on shares of Boyd Gaming from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Finally, Macquarie upped their price target on shares of Boyd Gaming from $74.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $86.62.

Boyd Gaming Stock Down 0.5%

Shares of BYD opened at $83.45 on Thursday. Boyd Gaming Corporation has a 52 week low of $57.67 and a 52 week high of $87.76. The firm has a market cap of $6.69 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 2.37 and a beta of 1.24. The firm’s 50-day simple moving average is $81.32 and its 200 day simple moving average is $74.71. 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 announced its earnings results on Thursday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.20. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $976.81 million. During the same quarter in the prior year, the business posted $1.58 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. On average, analysts forecast that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given 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 is Monday, September 15th. Boyd Gaming’s dividend payout ratio 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.