Boyd Gaming Co. (NYSE:BYD) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC lifted its position in Boyd Gaming Co. (NYSE:BYD) by 72.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,405 shares of the company’s stock after purchasing an additional 3,940 shares during the period. Empowered Funds LLC’s holdings in Boyd Gaming were worth $608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in BYD. Victory Capital Management Inc. raised its position in shares of Boyd Gaming by 6,158.8% in the third quarter. Victory Capital Management Inc. now owns 908,905 shares of the company’s stock worth $58,761,000 after acquiring an additional 894,383 shares during the period. Long Pond Capital LP acquired a new position in Boyd Gaming in the 2nd quarter worth about $20,440,000. Ariel Investments LLC boosted its position in Boyd Gaming by 12.5% during the second quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock worth $167,046,000 after purchasing an additional 335,984 shares in the last quarter. Boston Partners grew its holdings in Boyd Gaming by 10.0% in the first quarter. Boston Partners now owns 3,031,091 shares of the company’s stock valued at $203,276,000 after purchasing an additional 274,876 shares during the period. Finally, Beck Bode LLC acquired a new stake in Boyd Gaming in the first quarter valued at approximately $15,985,000. 76.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BYD. Barclays increased their target price on Boyd Gaming from $70.00 to $71.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Stifel Nicolaus increased their price objective on shares of Boyd Gaming from $67.00 to $74.00 and gave the company a “hold” rating in a report on Friday, October 25th. Truist Financial boosted their target price on shares of Boyd Gaming from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their price target on shares of Boyd Gaming from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Mizuho reiterated an “outperform” rating and issued a $79.00 price objective (up from $78.00) on shares of Boyd Gaming in a report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.38.

Boyd Gaming Price Performance

NYSE:BYD opened at $72.33 on Friday. Boyd Gaming Co. has a one year low of $49.34 and a one year high of $74.78. The stock has a market cap of $6.39 billion, a PE ratio of 13.80, a P/E/G ratio of 9.38 and a beta of 1.55. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The stock has a 50 day moving average price of $67.18 and a 200 day moving average price of $60.04.

Insider Buying and Selling at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 73,130 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total value of $4,404,619.90. Following the transaction, the chairman now directly owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. This represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christine J. Spadafor sold 1,242 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $60.36, for a total value of $74,967.12. Following the sale, the director now directly owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. This trade represents a 53.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,076 shares of company stock worth $12,856,031 in the last three months. 27.94% of the stock is owned by corporate 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.