QRG Capital Management Inc. Decreases Holdings in Boyd Gaming Corporation $BYD

QRG Capital Management Inc. lowered its stake in Boyd Gaming Corporation (NYSE:BYD) by 47.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,205 shares of the company’s stock after selling 7,363 shares during the period. QRG Capital Management Inc.’s holdings in Boyd Gaming were worth $709,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in shares of Boyd Gaming by 24.5% in the 2nd quarter. Parallel Advisors LLC now owns 685 shares of the company’s stock valued at $54,000 after purchasing an additional 135 shares during the last quarter. GAMMA Investing LLC raised its holdings in Boyd Gaming by 24.2% during the 2nd quarter. GAMMA Investing LLC now owns 960 shares of the company’s stock valued at $75,000 after buying an additional 187 shares during the period. Advisors Asset Management Inc. lifted its position in Boyd Gaming by 56.8% in the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after buying an additional 196 shares during the last quarter. Blue Trust Inc. boosted its stake in Boyd Gaming by 61.0% during the third quarter. Blue Trust Inc. now owns 657 shares of the company’s stock worth $57,000 after buying an additional 249 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Boyd Gaming by 219.8% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock worth $29,000 after buying an additional 255 shares during the period. 76.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Boyd Gaming

In related news, Director William R. Boyd sold 20,000 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $80.36, for a total value of $1,607,200.00. Following the completion of the sale, the director directly owned 1,960,447 shares of the company’s stock, valued at $157,541,520.92. This represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 27.94% of the stock is owned by insiders.

Boyd Gaming Stock Performance

Boyd Gaming stock opened at $85.16 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.49 and a current ratio of 0.51. The company has a market capitalization of $6.65 billion, a PE ratio of 3.72, a P/E/G ratio of 1.54 and a beta of 1.22. The company has a 50 day moving average price of $84.27 and a 200-day moving average price of $83.71. Boyd Gaming Corporation has a fifty-two week low of $58.94 and a fifty-two week high of $89.96.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.15. The company had revenue of $726.95 million for the quarter, compared to analysts’ expectations of $873.09 million. Boyd Gaming had a return on equity of 34.63% and a net margin of 46.02%.Boyd Gaming’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 earnings per share. As a group, equities analysts forecast that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 15th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, December 15th. Boyd Gaming’s payout ratio is presently 3.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BYD shares. Morgan Stanley increased their target price on shares of Boyd Gaming from $85.00 to $87.00 and gave the company an “equal weight” rating in a research note on Friday, January 16th. Truist Financial set a $110.00 price objective on shares of Boyd Gaming in a research note on Tuesday, January 13th. Mizuho upped their target price on Boyd Gaming from $89.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Zacks Research downgraded Boyd Gaming from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Boyd Gaming in a report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Boyd Gaming has an average rating of “Hold” and an average price target of $92.00.

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.