BOYD GAMING CORP
At today's price, BOYD GAMING CORP (BYD) is priced for +13.0% growth. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
• Boyd Gaming runs 28 regional casinos plus a digital licensing book, and the business that actually compounds is the loyalty franchise behind its Midwest and South properties, where Q1 2026 revenue grew about 4% and property margins held above 39%. • The biggest risk is leverage carried through a fixed-cost asset base: net debt sits near $3.2 billion against roughly $712 million of trailing operating income, so a downturn in regional gaming play hits earnings before it hits the rent. • The next
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395 institutional managers reported holding BYD in 13F filings for the quarter ended 2026-03-31. Together they hold about 66% of the company; the top 10 hold 34%. 44 opened new positions that quarter. Held by Vanguard Group, BlackRock, Cohen & Steers, among others. On the short side, 4.2M shares were sold short as of the 2026-06-15 count, about 5% of shares outstanding (3.4 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
BYD has cut its share count 18.5% over the past five years, spending $2.65B on repurchases. It pays a dividend, and has for 4 years running; the current rate is $0.72 a share annually. Cash returned over the past three years: $166.44M in dividends and $1.83B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at BYD over the trailing three years. Absence is a fact about the company, not a signal. 15 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
BYD's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-04 | -6.4% | -11.9% |
| 2023-11-02 | -10.8% | +10.1% |
| 2024-02-27 | +4.3% | -15.7% |
| 2024-05-04 | -16.4% | -0.1% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
BYD's latest 8-K filings: 2026-06-25 (items 5.02, 7.01, 9.01); 2026-05-08 (items 5.02, 5.07); 2026-05-07 (items 8.01); 2026-04-23 (items 2.02, 9.01); 2026-02-24 (items 5.02).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.