Mutual of America Capital Management LLC Trims Position in Boyd Gaming Co. (NYSE:BYD)

Posted by Defense World Staff on Aug 5th, 2023

Mutual of America Capital Management LLC decreased its stake in shares of Boyd Gaming Co. (NYSE:BYD – Free Report) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 62,826 shares of the company’s stock after selling 1,341 shares during the quarter. Mutual of America Capital Management LLC owned about 0.06% of Boyd Gaming worth $4,028,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Boyd Gaming by 4.1% during the first quarter. Vanguard Group Inc. now owns 9,030,684 shares of the company’s stock worth $594,039,000 after acquiring an additional 359,698 shares during the last quarter. BlackRock Inc. boosted its position in shares of Boyd Gaming by 2.1% during the first quarter. BlackRock Inc. now owns 7,025,507 shares of the company’s stock worth $462,137,000 after acquiring an additional 143,418 shares during the last quarter. Ariel Investments LLC boosted its position in shares of Boyd Gaming by 63.4% during the first quarter. Ariel Investments LLC now owns 2,629,438 shares of the company’s stock worth $172,965,000 after acquiring an additional 1,020,515 shares during the last quarter. Invesco Ltd. boosted its position in shares of Boyd Gaming by 45.2% during the first quarter. Invesco Ltd. now owns 2,382,418 shares of the company’s stock worth $156,715,000 after acquiring an additional 741,156 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Boyd Gaming by 0.5% during the second quarter. State Street Corp now owns 2,200,680 shares of the company’s stock worth $109,811,000 after acquiring an additional 10,796 shares during the last quarter. Institutional investors own 68.68% of the company’s stock.

Boyd Gaming Price Performance

Boyd Gaming stock opened at $66.73 on Friday. The firm has a 50-day moving average price of $68.62 and a 200-day moving average price of $65.98. The firm has a market capitalization of $6.74 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 1.53 and a beta of 1.76. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 1.76. Boyd Gaming Co. has a 12-month low of $46.10 and a 12-month high of $73.00.

Boyd Gaming (NYSE:BYD – Get Free Report) last released its earnings results on Thursday, July 27th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.02. The firm had revenue of $916.95 million during the quarter, compared to analyst estimates of $910.59 million. Boyd Gaming had a net margin of 19.61% and a return on equity of 42.55%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business earned $1.48 EPS. As a group, equities research analysts forecast that Boyd Gaming Co. will post 6.3 EPS for the current year.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Director Christine J. Spadafor sold 735 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $68.02, for a total value of $49,994.70. Following the completion of the sale, the director now directly owns 4,212 shares of the company’s stock, valued at approximately $286,500.24. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Stephen S. Thompson sold 16,825 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $68.15, for a total transaction of $1,146,623.75. Following the transaction, the executive vice president now directly owns 22,113 shares in the company, valued at $1,507,000.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Christine J. Spadafor sold 735 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $68.02, for a total transaction of $49,994.70. Following the transaction, the director now owns 4,212 shares in the company, valued at $286,500.24. The disclosure for this sale can be found here. 27.94% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BYD has been the subject of a number of research reports. Argus upped their target price on shares of Boyd Gaming from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, July 31st. Barclays increased their price objective on shares of Boyd Gaming from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, April 21st. StockNews.com lowered shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Wells Fargo & Company increased their price objective on shares of Boyd Gaming from $82.00 to $83.00 in a research report on Thursday, July 13th. Finally, Susquehanna increased their price objective on shares of Boyd Gaming from $80.00 to $84.00 in a research report on Wednesday, April 26th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Boyd Gaming has a consensus rating of “Moderate Buy” and an average target price of $77.00.

Boyd Gaming Profile

(Free Report)

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. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South.