SG Americas Securities LLC Boosts Holdings in Boyd Gaming Corporation $BYD

SG Americas Securities LLC lifted its holdings in Boyd Gaming Corporation (NYSE:BYD) by 164.2% in the third quarter, HoldingsChannel reports. The firm owned 19,395 shares of the company’s stock after buying an additional 12,054 shares during the quarter. SG Americas Securities LLC’s holdings in Boyd Gaming were worth $1,677,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Ruffer LLP acquired a new position in shares of Boyd Gaming in the second quarter worth $6,471,000. Counterpoint Mutual Funds LLC acquired a new position in Boyd Gaming during the 2nd quarter worth $402,000. Asset Management One Co. Ltd. acquired a new position in Boyd Gaming during the 3rd quarter worth $1,531,000. Fox Run Management L.L.C. purchased a new stake in Boyd Gaming during the 2nd quarter worth about $563,000. Finally, LSV Asset Management raised its position in Boyd Gaming by 115.8% in the 2nd quarter. LSV Asset Management now owns 245,100 shares of the company’s stock valued at $19,174,000 after purchasing an additional 131,500 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on BYD shares. JPMorgan Chase & Co. boosted their price objective on Boyd Gaming from $87.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Zacks Research downgraded shares of Boyd Gaming from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Mizuho increased their price objective on shares of Boyd Gaming from $89.00 to $99.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Morgan Stanley lifted their price objective on shares of Boyd Gaming from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Finally, Truist Financial set a $110.00 target price on shares of Boyd Gaming in a research note on Tuesday. Five investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $91.83.

Insider Activity

In related news, Director William R. Boyd sold 20,000 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $80.36, for a total value of $1,607,200.00. Following the completion of the sale, the director directly owned 1,960,447 shares of the company’s stock, valued at $157,541,520.92. This represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 27.94% of the stock is currently owned by company insiders.

Boyd Gaming Stock Up 2.4%

BYD stock opened at $89.59 on Friday. The stock has a market cap of $7.00 billion, a P/E ratio of 3.92, a PEG ratio of 1.58 and a beta of 1.22. The company has a current ratio of 0.51, a quick ratio of 0.49 and a debt-to-equity ratio of 0.71. Boyd Gaming Corporation has a twelve month low of $58.94 and a twelve month high of $89.96. The company’s 50 day moving average is $83.83 and its two-hundred day moving average is $83.51.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, October 23rd. The company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.15. Boyd Gaming had a net margin of 46.02% and a return on equity of 34.63%. The firm had revenue of $726.95 million for the quarter, compared to the consensus estimate of $873.09 million. During the same period last year, the firm posted $1.52 EPS. The company’s revenue was up 4.5% on a year-over-year basis. Research analysts expect that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, December 15th. Boyd Gaming’s payout ratio is presently 3.15%.

Boyd Gaming Company Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.