Amalgamated Bank Cuts Stake in Boyd Gaming Corporation $BYD

Amalgamated Bank cut its stake in Boyd Gaming Corporation (NYSE:BYD) by 7.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,179 shares of the company’s stock after selling 2,410 shares during the quarter. Amalgamated Bank’s holdings in Boyd Gaming were worth $2,204,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BYD. Advisors Asset Management Inc. raised its position in Boyd Gaming by 56.8% in the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after purchasing an additional 196 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Boyd Gaming in the 2nd quarter valued at about $39,000. GAMMA Investing LLC boosted its position in Boyd Gaming by 68.0% in the 1st quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock valued at $51,000 after buying an additional 313 shares during the last quarter. Parallel Advisors LLC boosted its position in Boyd Gaming by 24.5% in the 2nd quarter. Parallel Advisors LLC now owns 685 shares of the company’s stock valued at $54,000 after buying an additional 135 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in Boyd Gaming by 28.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,210 shares of the company’s stock valued at $80,000 after buying an additional 265 shares during the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BYD shares. Weiss Ratings restated a “buy (b)” rating on shares of Boyd Gaming in a research note on Wednesday, October 8th. Stifel Nicolaus raised 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. Morgan Stanley raised their price objective on Boyd Gaming from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. raised their price objective on Boyd Gaming from $87.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Finally, Truist Financial raised their price objective on Boyd Gaming from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Seven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Boyd Gaming presently has a consensus rating of “Hold” and an average price target of $90.08.

Insider Buying and Selling at Boyd Gaming

In other news, Director William R. Boyd sold 9,774 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $81.61, for a total value 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Josh Hirsberg sold 40,035 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $85.41, for a total transaction of $3,419,389.35. Following the completion of the transaction, the chief financial officer owned 420,185 shares in the company, valued at approximately $35,888,000.85. The trade was a 8.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 353,035 shares of company stock valued at $29,941,690. Corporate insiders own 27.94% of the company’s stock.

Boyd Gaming Price Performance

BYD opened at $79.41 on Wednesday. The company has a 50-day moving average of $83.67 and a 200-day moving average of $79.84. The company has a market capitalization of $6.37 billion, a P/E ratio of 3.47, a PEG ratio of 2.02 and a beta of 1.30. Boyd Gaming Corporation has a 1-year low of $58.94 and a 1-year high of $88.49. 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 released its earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share for the quarter. The company 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%. Equities analysts expect that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th were given a $0.18 dividend. 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 presently 3.15%.

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.