Gotham Asset Management 13F: Adds $15M to Boyd Gaming (BYD) Stake

Gotham Asset Management has increased its stake in Boyd Gaming Corporation (NYSE:BYD) by 25.5%, according to its latest 13F filing with the SEC. The firm added 174,362 shares during the reporting period, bringing its total holdings to 858,036 shares, valued at approximately $74.3 million.

What Changed in Gotham Asset Management's Boyd Gaming Position

Gotham Asset Management's recent move reflects a substantial increase in its investment in Boyd Gaming. Previously holding 683,674 shares, the firm boosted its position by 174,362 shares, marking a 25.5% increase. The total value of its holdings in Boyd Gaming now stands at about $74.3 million.

Other Institutional Activity in Boyd Gaming

Several other institutional investors have also adjusted their positions in Boyd Gaming. BlackRock, Inc. grew its holdings by 176,126 shares, ending with 5,551,866 shares valued at approximately $456.3 million. Vanguard Portfolio Management LLC added 2,776,554 shares, bringing its total to 2,776,554 shares worth about $228.2 million. Meanwhile, Boston Partners reduced its stake by 469,541 shares to 2,757,681 shares, valued at $226.7 million. Cohen & Steers, Inc. significantly increased its holdings by 1,537,426 shares, bringing its total to 2,470,510 shares, worth approximately $203 million.

Boyd Gaming Corporation Stock Up 18.6%

Shares of Boyd Gaming Corporation (NYSE:BYD) traded near $86.55. The company has a market capitalization of about $6.5 billion, with a forward P/E ratio of 11.18 and a beta of 1.092. Its 52-week range spans from $73.00 to $89.96, and it has a 50-day moving average of $84.57 and a 200-day moving average of $83.77. The company's current ratio is 0.6, and its quick ratio is 0.512, with a debt-to-equity ratio of 115.27.

Recent Earnings

Boyd Gaming reported revenue of approximately $4.1 billion, with a modest growth rate of 0.6%. The company achieved a net margin of 44.84% and a return on equity of 94.28%. Its earnings per share stood at $22.62. The next earnings report is scheduled for April 23, 2026.

Dividend

Boyd Gaming offers an annual dividend rate of $0.76, yielding 0.88% with a payout ratio of 3.27%. The company continues to provide returns to its shareholders through dividends.

Insider Buying and Selling at Boyd Gaming Corporation

Recent insider activity at Boyd Gaming includes several transactions. On June 9, 2026, Clinton Uri, Chief Legal Officer & Secretary, sold 3,468 shares at an average price of $87.69. On June 3, 2026, President and CEO Keith Smith sold 100,000 shares at $85.90. On May 13, 2026, Christine Spadafor sold 1,237 shares at $80.91. In contrast, insiders William Boyd, Paul Whetsell, and John Robert Bailey each bought 2,347 shares at no cost on May 7, 2026.

Analysts Set New Price Targets

Analysts have maintained their ratings on Boyd Gaming with updated price targets. On May 19, 2026, Macquarie maintained a 'hold' rating with a $91 price target. Earlier, on April 24, 2026, Barclays and JP Morgan also maintained 'hold' ratings with targets of $86 and $90, respectively. The consensus recommendation remains 'buy', with an average target price of $93.73 based on 15 analyst opinions.

About Boyd Gaming

Boyd Gaming Corporation is a leading gaming company headquartered in Las Vegas, Nevada. It operates a variety of gaming and entertainment properties across the United States and Canada, including casinos and an online gaming business. With over 16,000 employees, Boyd Gaming serves a broad customer base through its diverse portfolio, which includes segments like Las Vegas Locals, Downtown Las Vegas, and Midwest & South.

Bottom Line

Gotham Asset Management's increased stake in Boyd Gaming highlights continued interest from institutional investors. The stock offers a combination of growth potential and dividend income, attracting analyst attention with a consensus 'buy' rating. However, as with all 13F filings, it's important to note that these holdings reflect past positions and may not represent current investments.