Boyd Gaming Corporation $BYD Shares Purchased by Sigma Planning Corp

Sigma Planning Corp raised its position in Boyd Gaming Corporation (NYSE:BYD) by 15.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,388 shares of the company’s stock after acquiring an additional 1,006 shares during the period. Sigma Planning Corp’s holdings in Boyd Gaming were worth $578,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. increased its holdings in shares of Boyd Gaming by 56.8% during the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after buying an additional 196 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Boyd Gaming in the second quarter valued at approximately $39,000. Parallel Advisors LLC grew its position in Boyd Gaming by 24.5% in the second quarter. Parallel Advisors LLC now owns 685 shares of the company’s stock worth $54,000 after acquiring an additional 135 shares during the period. GAMMA Investing LLC increased its stake in Boyd Gaming by 24.2% during the second quarter. GAMMA Investing LLC now owns 960 shares of the company’s stock worth $75,000 after acquiring an additional 187 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in Boyd Gaming by 28.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,210 shares of the company’s stock valued at $80,000 after purchasing an additional 265 shares during the period. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Price Performance

BYD opened at $81.26 on Friday. The stock’s 50-day moving average price is $83.30 and its 200 day moving average price is $79.97. Boyd Gaming Corporation has a 12-month low of $58.94 and a 12-month high of $88.49. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 3.55, a PEG ratio of 2.02 and a beta of 1.31. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share (EPS) for the quarter. Boyd Gaming had a net margin of 46.02% and a return on equity of 41.97%. The business had revenue of $707.32 million for the quarter. As a group, sell-side analysts expect that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, September 15th. Boyd Gaming’s dividend payout ratio (DPR) is currently 3.15%.

Analysts Set New Price Targets

BYD has been the subject of a number of research analyst reports. Barclays increased their price target on Boyd Gaming from $73.00 to $87.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. JPMorgan Chase & Co. upped their target price on shares of Boyd Gaming from $87.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Raymond James Financial reaffirmed an “outperform” rating on shares of Boyd Gaming in a research note on Monday, September 8th. Zacks Research cut shares of Boyd Gaming from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Finally, Stifel Nicolaus boosted their price target on shares of Boyd Gaming from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, July 25th. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $90.08.

Insider Buying and Selling at Boyd Gaming

In related news, CEO Keith Smith sold 50,000 shares of Boyd Gaming stock in a transaction on Monday, August 18th. The stock was sold at an average price of $83.09, for a total value of $4,154,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,096,689 shares in the company, valued at approximately $91,123,889.01. This trade represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Josh Hirsberg sold 40,035 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $85.41, for a total value of $3,419,389.35. Following the sale, the chief financial officer owned 420,185 shares in the company, valued at approximately $35,888,000.85. This trade represents a 8.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 353,035 shares of company stock worth $29,941,690. 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.