82,717 Shares in Boyd Gaming Corporation $BYD Bought by Ruffer LLP

Ruffer LLP acquired a new position in Boyd Gaming Corporation (NYSE:BYD) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 82,717 shares of the company’s stock, valued at approximately $6,471,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in Boyd Gaming by 24.5% in the second quarter. Parallel Advisors LLC now owns 685 shares of the company’s stock valued at $54,000 after acquiring an additional 135 shares during the last quarter. GAMMA Investing LLC raised its position in Boyd Gaming by 24.2% during the second quarter. GAMMA Investing LLC now owns 960 shares of the company’s stock valued at $75,000 after purchasing an additional 187 shares in the last quarter. Advisors Asset Management Inc. raised its position in Boyd Gaming by 56.8% during 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 in the last quarter. Louisiana State Employees Retirement System raised its position in 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 purchasing an additional 200 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in 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 purchasing an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Insider Activity

In other news, CFO Josh Hirsberg sold 40,035 shares of Boyd Gaming stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer directly owned 420,185 shares in the company, valued at approximately $35,888,000.85. This trade represents a 8.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen S. Thompson sold 15,906 shares of Boyd Gaming stock in a transaction that occurred on 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 transaction, the insider owned 38,609 shares of the company’s stock, valued at $3,214,199.25. The trade was a 29.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 385,438 shares of company stock valued at $32,638,085. 27.94% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BYD shares. Susquehanna downgraded Boyd Gaming from a “positive” rating to a “neutral” rating and raised their price target for the company from $76.00 to $86.00 in a research report on Friday, July 11th. 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. Mizuho raised their price objective on Boyd Gaming from $86.00 to $89.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. 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. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Boyd Gaming in a research note on Monday, September 8th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $87.83.

Boyd Gaming Stock Down 0.8%

NYSE BYD opened at $84.44 on Thursday. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.86 and a quick ratio of 0.82. The stock has a market capitalization of $6.77 billion, a PE ratio of 12.99, a PEG ratio of 2.40 and a beta of 1.23. Boyd Gaming Corporation has a 1 year low of $58.94 and a 1 year high of $87.83. The business’s 50-day moving average is $84.31 and its 200 day moving average is $76.22.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.20. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%.The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $976.81 million. During the same period last year, the firm earned $1.58 earnings per share. Boyd Gaming’s quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts forecast that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be 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 is Monday, September 15th. Boyd Gaming’s dividend payout ratio (DPR) is presently 11.08%.

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.