GSA Capital Partners LLP Has $257,000 Stock Position in Boyd Gaming Corporation $BYD

GSA Capital Partners LLP reduced its position in Boyd Gaming Corporation (NYSE:BYD) by 70.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,971 shares of the company’s stock after selling 7,082 shares during the period. GSA Capital Partners LLP’s holdings in Boyd Gaming were worth $257,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BYD. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Boyd Gaming by 219.8% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock valued at $29,000 after buying an additional 255 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Boyd Gaming by 56.8% in the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after acquiring an additional 196 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Boyd Gaming in the second quarter valued at approximately $39,000. True Wealth Design LLC grew its position in Boyd Gaming by 162.1% in the third quarter. True Wealth Design LLC now owns 532 shares of the company’s stock worth $46,000 after acquiring an additional 329 shares in the last quarter. Finally, SJS Investment Consulting Inc. acquired a new position in shares of Boyd Gaming during the 3rd quarter worth $48,000. 76.81% of the stock is owned by hedge funds and other institutional investors.

Boyd Gaming Price Performance

Shares of NYSE:BYD opened at $83.19 on Friday. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 3.66, a PEG ratio of 1.75 and a beta of 1.24. The business has a 50 day moving average price of $85.32 and a 200 day moving average price of $83.88. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.78. Boyd Gaming Corporation has a twelve month low of $58.94 and a twelve month high of $89.96.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, February 5th. The company reported $2.21 EPS for the quarter, topping the consensus estimate of $1.88 by $0.33. Boyd Gaming had a return on equity of 30.14% and a net margin of 45.05%.The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the business posted $1.96 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Research analysts predict that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be issued a $0.20 dividend. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Boyd Gaming’s payout ratio is currently 3.16%.

Insider Transactions at Boyd Gaming

In related news, Director William R. Boyd sold 30,000 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $84.84, for a total value of $2,545,200.00. Following the completion of the sale, the director owned 1,930,447 shares in the company, valued at approximately $163,779,123.48. This trade represents a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 27.94% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BYD shares. Morgan Stanley set a $86.00 price objective on shares of Boyd Gaming in a research note on Wednesday, February 11th. Truist Financial set a $110.00 price target on Boyd Gaming in a research report on Tuesday, January 13th. Wells Fargo & Company decreased their price target on Boyd Gaming from $85.00 to $84.00 and set an “equal weight” rating for the company in a research note on Monday, February 9th. Stifel Nicolaus increased their price objective on Boyd Gaming from $90.00 to $95.00 and gave the company a “hold” rating in a report on Friday, February 6th. Finally, Citigroup assumed coverage on Boyd Gaming in a report on Thursday, November 20th. They issued a “neutral” rating and a $86.00 target price for the company. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $92.58.

Boyd Gaming Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.