Gotham Asset Management LLC Has $44.27 Million Holdings in Boyd Gaming Corporation $BYD

Gotham Asset Management LLC increased its holdings in Boyd Gaming Corporation (NYSE:BYD) by 22.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 512,095 shares of the company’s stock after purchasing an additional 94,453 shares during the period. Gotham Asset Management LLC’s holdings in Boyd Gaming were worth $44,271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Arrowstreet Capital Limited Partnership raised its position in Boyd Gaming by 11.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,478,130 shares of the company’s stock worth $127,784,000 after purchasing an additional 153,462 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Boyd Gaming by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,221,283 shares of the company’s stock valued at $105,580,000 after buying an additional 173,868 shares during the last quarter. American Century Companies Inc. grew its position in shares of Boyd Gaming by 11.7% in the 2nd quarter. American Century Companies Inc. now owns 1,213,024 shares of the company’s stock valued at $94,895,000 after buying an additional 127,167 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Boyd Gaming by 679.7% in the second quarter. First Trust Advisors LP now owns 1,122,869 shares of the company’s stock valued at $87,842,000 after buying an additional 978,853 shares during the period. Finally, Norges Bank acquired a new stake in shares of Boyd Gaming in the second quarter valued at about $54,933,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Boyd Gaming news, insider Stephen S. Thompson sold 19,530 shares of Boyd Gaming stock in a transaction on Friday, February 27th. The shares were sold at an average price of $83.59, for a total value of $1,632,512.70. Following the completion of the sale, the insider directly owned 22,009 shares of the company’s stock, valued at approximately $1,839,732.31. The trade was a 47.02% 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, Director William R. Boyd sold 30,000 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $84.84, for a total transaction of $2,545,200.00. Following the transaction, the director owned 1,930,447 shares in the company, valued at $163,779,123.48. This represents a 1.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 73,454 shares of company stock valued at $6,231,827 over the last ninety days. 21.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BYD shares. UBS Group set a $110.00 price objective on Boyd Gaming in a research note on Wednesday, December 24th. Truist Financial set a $110.00 target price on shares of Boyd Gaming in a research report on Tuesday, January 13th. Mizuho set a $100.00 price target on shares of Boyd Gaming in a report on Monday, February 2nd. Jefferies Financial Group restated a “buy” rating on shares of Boyd Gaming in a research report on Wednesday, December 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Boyd Gaming in a research note on Monday, December 29th. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $92.58.

Boyd Gaming Trading Up 0.4%

Shares of BYD stock opened at $81.62 on Monday. Boyd Gaming Corporation has a fifty-two week low of $58.94 and a fifty-two week high of $89.96. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.52 and a current ratio of 0.54. The stock has a 50 day simple moving average of $84.44 and a two-hundred day simple moving average of $83.65. The company has a market cap of $6.16 billion, a P/E ratio of 3.59, a PEG ratio of 1.72 and a beta of 1.20.

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

Boyd Gaming Increases Dividend

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

About Boyd Gaming

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.