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Boyd Gaming Target of Unusually High Options Trading (NYSE:BYD)

Defense World · Sep 21, 2022 02:21

Boyd Gaming Co. (NYSE:BYD – Get Rating) saw some unusual options trading on Tuesday. Investors purchased 17,539 put options on the company. This is an increase of 1,420% compared to the typical volume of 1,154 put options.

Boyd Gaming Stock Down 0.9 %

NYSE BYD opened at $52.22 on Wednesday. The business has a fifty day moving average price of $54.89 and a 200 day moving average price of $57.61. Boyd Gaming has a one year low of $47.66 and a one year high of $72.72. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.74 and a current ratio of 0.78. The company has a market cap of $5.72 billion, a P/E ratio of 10.55, a P/E/G ratio of 0.95 and a beta of 1.85.

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Boyd Gaming (NYSE:BYD – Get Rating) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.38 by $0.10. Boyd Gaming had a return on equity of 40.76% and a net margin of 16.03%. During the same period in the prior year, the company posted $1.54 earnings per share. Research analysts anticipate that Boyd Gaming will post 5.5 EPS for the current fiscal year.

Boyd Gaming Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Friday, September 30th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, September 29th. Boyd Gaming's payout ratio is currently 12.12%.

Institutional Trading of Boyd Gaming

Several large investors have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH grew its holdings in Boyd Gaming by 0.4% in the 4th quarter. Allianz Asset Management GmbH now owns 37,921 shares of the company's stock valued at $2,486,000 after buying an additional 150 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in Boyd Gaming by 3.9% in the 1st quarter. Great Lakes Advisors LLC now owns 4,685 shares of the company's stock valued at $308,000 after buying an additional 174 shares in the last quarter. Guyasuta Investment Advisors Inc. grew its holdings in Boyd Gaming by 0.8% in the 1st quarter. Guyasuta Investment Advisors Inc. now owns 26,425 shares of the company's stock valued at $1,738,000 after buying an additional 200 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Boyd Gaming by 50.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 600 shares of the company's stock valued at $30,000 after buying an additional 200 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Boyd Gaming by 0.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 33,093 shares of the company's stock valued at $2,177,000 after buying an additional 243 shares in the last quarter. 92.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on BYD shares. Stifel Nicolaus decreased their price target on Boyd Gaming from $84.00 to $73.00 in a report on Wednesday, July 27th. Wells Fargo & Company boosted their price target on Boyd Gaming to $77.00 and gave the company an "outperform" rating in a report on Wednesday, July 27th. Deutsche Bank Aktiengesellschaft decreased their price target on Boyd Gaming from $77.00 to $73.00 and set a "buy" rating for the company in a report on Wednesday, July 13th. Barclays assumed coverage on Boyd Gaming in a report on Tuesday, June 28th. They issued an "overweight" rating and a $63.00 price target for the company. Finally, Truist Financial reduced their target price on Boyd Gaming from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, July 20th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Boyd Gaming has an average rating of "Buy" and an average price target of $75.36.

Boyd Gaming Company Profile

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Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of December 31, 2021, the company operated 28 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.