Bayforest Capital Ltd Grows Stock Holdings in Boyd Gaming Corporation (NYSE:BYD)

Bayforest Capital Ltd raised its position in shares of Boyd Gaming Corporation (NYSE:BYD) by 47.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,025 shares of the company’s stock after buying an additional 1,302 shares during the quarter. Bayforest Capital Ltd’s holdings in Boyd Gaming were worth $265,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Louisiana State Employees Retirement System lifted its position in shares of Boyd Gaming by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the company’s stock valued at $1,224,000 after buying an additional 200 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Boyd Gaming by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 47,753 shares of the company’s stock valued at $3,143,000 after buying an additional 205 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of Boyd Gaming by 7.1% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,000 shares of the company’s stock valued at $263,000 after buying an additional 265 shares during the last quarter. Choreo LLC lifted its position in shares of Boyd Gaming by 0.9% during the first quarter. Choreo LLC now owns 30,164 shares of the company’s stock valued at $1,991,000 after buying an additional 271 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its position in shares of Boyd Gaming by 91.0% during the fourth quarter. CoreCap Advisors LLC now owns 573 shares of the company’s stock valued at $42,000 after buying an additional 273 shares during the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

Boyd Gaming Price Performance

Boyd Gaming stock opened at $84.81 on Friday. The company’s fifty day moving average price is $78.86 and its 200 day moving average price is $73.97. Boyd Gaming Corporation has a 1 year low of $52.76 and a 1 year high of $87.76. The stock has a market capitalization of $6.90 billion, a P/E ratio of 13.05, a P/E/G ratio of 2.94 and a beta of 1.26. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.76 and a current ratio of 0.80.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.20. Boyd Gaming had a net margin of 14.02% and a return on equity of 39.81%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $976.81 million. During the same quarter last year, the company earned $1.58 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, June 16th. Boyd Gaming’s payout ratio is currently 11.08%.

Wall Street Analyst Weigh In

BYD has been the subject of several analyst reports. Barclays increased their price target on shares of Boyd Gaming from $73.00 to $87.00 and gave the company an “equal weight” rating in a research report on Friday, July 18th. Truist Financial increased their price objective on shares of Boyd Gaming from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Stifel Nicolaus increased their price objective on shares of Boyd Gaming from $87.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, July 25th. JPMorgan Chase & Co. began coverage on shares of Boyd Gaming in a research report on Monday, June 23rd. They issued a “neutral” rating and a $79.00 price objective for the company. Finally, Susquehanna lowered shares of Boyd Gaming from a “positive” rating to a “neutral” rating and increased their price objective for the company from $76.00 to $86.00 in a research report on Friday, July 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $86.62.

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.