Peregrine Capital Management LLC Acquires Shares of 72,721 Boyd Gaming Corporation $BYD

Peregrine Capital Management LLC acquired a new stake in shares of Boyd Gaming Corporation (NYSE:BYD) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 72,721 shares of the company’s stock, valued at approximately $5,689,000.

Several other large investors have also bought and sold shares of the company. Victory Capital Management Inc. boosted its position in Boyd Gaming by 13.3% during the 1st quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company’s stock valued at $69,036,000 after acquiring an additional 122,822 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Boyd Gaming by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 983,823 shares of the company’s stock valued at $64,765,000 after acquiring an additional 8,850 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Boyd Gaming by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 692,496 shares of the company’s stock valued at $45,587,000 after acquiring an additional 7,400 shares in the last quarter. Northern Trust Corp boosted its position in Boyd Gaming by 14.2% during the 1st quarter. Northern Trust Corp now owns 682,518 shares of the company’s stock valued at $44,930,000 after acquiring an additional 85,087 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its position in Boyd Gaming by 7.5% during the 1st quarter. Raymond James Financial Inc. now owns 641,104 shares of the company’s stock valued at $42,204,000 after acquiring an additional 44,558 shares in the last quarter. 76.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, insider Stephen S. Thompson sold 15,906 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $83.25, for a total transaction of $1,324,174.50. Following the completion of the transaction, the insider owned 38,609 shares of the company’s stock, valued at $3,214,199.25. This represents a 29.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Josh Hirsberg sold 40,035 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $85.41, for a total transaction of $3,419,389.35. Following the transaction, the chief financial officer directly owned 420,185 shares of the company’s stock, valued at $35,888,000.85. This trade represents a 8.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 385,438 shares of company stock worth $32,638,085. Insiders own 21.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Truist Financial boosted their price target on Boyd Gaming from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Zacks Research cut Boyd Gaming from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Stifel Nicolaus boosted their price target on Boyd Gaming from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, July 25th. JPMorgan Chase & Co. boosted their price target on Boyd Gaming from $87.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Boyd Gaming in a research report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $89.67.

Boyd Gaming Price Performance

Shares of BYD opened at $79.54 on Tuesday. The firm has a market cap of $6.38 billion, a PE ratio of 3.48, a P/E/G ratio of 2.10 and a beta of 1.30. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53. The firm has a fifty day simple moving average of $84.45 and a two-hundred day simple moving average of $79.16. Boyd Gaming Corporation has a 1-year low of $58.94 and a 1-year high of $88.49.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share 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 during the quarter. On average, equities analysts anticipate that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, September 15th. Boyd Gaming’s dividend payout ratio is 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.