CoreCap Advisors LLC Purchases 273 Shares of Boyd Gaming Co. (NYSE:BYD)

CoreCap Advisors LLC increased its position in shares of Boyd Gaming Co. (NYSE:BYD) by 91.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 573 shares of the company’s stock after acquiring an additional 273 shares during the quarter. CoreCap Advisors LLC’s holdings in Boyd Gaming were worth $42,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BYD. Rhumbline Advisers lifted its stake in Boyd Gaming by 1.0% in the fourth quarter. Rhumbline Advisers now owns 185,714 shares of the company’s stock valued at $13,472,000 after buying an additional 1,797 shares in the last quarter. Raymond James Financial Inc. bought a new position in Boyd Gaming in the fourth quarter valued at approximately $43,273,000. Allspring Global Investments Holdings LLC lifted its stake in Boyd Gaming by 226.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 202,824 shares of the company’s stock valued at $14,569,000 after buying an additional 140,707 shares in the last quarter. Truist Financial Corp lifted its stake in Boyd Gaming by 20.7% in the fourth quarter. Truist Financial Corp now owns 4,458 shares of the company’s stock valued at $323,000 after buying an additional 765 shares in the last quarter. Finally, GC Wealth Management RIA LLC bought a new position in Boyd Gaming in the fourth quarter valued at approximately $307,000. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Price Performance

Shares of NYSE BYD opened at $75.92 on Thursday. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $80.50. The stock’s 50 day moving average price is $67.41 and its 200-day moving average price is $71.70. The company has a market capitalization of $6.18 billion, a PE ratio of 12.21, a PEG 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 (NYSE:BYD) last announced its earnings results on Thursday, April 24th. The company reported $1.62 earnings per share 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 for the quarter, compared to the consensus estimate of $976.38 million. During the same quarter in the previous year, the business earned $1.51 EPS. The company’s revenue was up 3.2% compared to the same quarter last year. On average, equities analysts anticipate that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be issued 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 yield of 0.95%. Boyd Gaming’s dividend payout ratio (DPR) is 11.75%.

Wall Street Analysts Forecast Growth

BYD has been the topic of a number of research reports. Barclays cut their price objective on shares of Boyd Gaming from $78.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Truist Financial cut their price objective on shares of Boyd Gaming from $92.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Stifel Nicolaus cut their price objective on shares of Boyd Gaming from $82.00 to $71.00 and set a “hold” rating on the stock in a research report on Friday, April 25th. Wells Fargo & Company boosted their price objective on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Boyd Gaming from $74.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.07.

Insider Buying and Selling

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 the 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 completion of the transaction, the director now directly owns 1,472,970 shares in the company, valued at approximately $116,835,980.40. This represents a 1.01% decrease in their position. The disclosure for this sale can be found here. 27.94% of the stock is currently owned by insiders.

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.