Norges Bank Buys New Holdings in Boyd Gaming Co. (NYSE:BYD)

Norges Bank purchased a new stake in Boyd Gaming Co. (NYSE:BYD - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 765,821 shares of the company's stock, valued at approximately $55,553,000. Norges Bank owned about 0.87% of Boyd Gaming at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cerity Partners LLC grew its holdings in shares of Boyd Gaming by 46.3% during the third quarter. Cerity Partners LLC now owns 13,725 shares of the company's stock worth $887,000 after buying an additional 4,345 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Boyd Gaming by 22.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 18,910 shares of the company's stock valued at $1,223,000 after purchasing an additional 3,480 shares during the last quarter. Townsquare Capital LLC acquired a new position in shares of Boyd Gaming in the third quarter valued at approximately $200,000. Edgestream Partners L.P. purchased a new stake in shares of Boyd Gaming during the third quarter worth approximately $315,000. Finally, Quarry LP lifted its holdings in shares of Boyd Gaming by 150.1% during the third quarter. Quarry LP now owns 873 shares of the company's stock worth $56,000 after purchasing an additional 524 shares during the period. Institutional investors and hedge funds own 76.81% of the company's stock.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,125 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $75.28, for a total value of $84,690.00. Following the sale, the director now directly owns 4,852 shares of the company's stock, valued at approximately $365,258.56. This trade represents a 18.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William R. Boyd sold 15,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the transaction, the director now directly owns 1,472,970 shares of the company's stock, valued at approximately $116,835,980.40. This represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,125 shares of company stock worth $5,158,490. Corporate insiders own 27.94% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages have commented on BYD. StockNews.com downgraded shares of Boyd Gaming from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 27th. Stifel Nicolaus raised their price objective on shares of Boyd Gaming from $74.00 to $82.00 and gave the company a "hold" rating in a research report on Friday, February 7th. Wells Fargo & Company boosted their target price on Boyd Gaming from $82.00 to $88.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Truist Financial reduced their price target on Boyd Gaming from $92.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Finally, Argus raised Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 price objective on the stock in a report on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Boyd Gaming presently has a consensus rating of "Moderate Buy" and a consensus target price of $95.00.

Boyd Gaming Price Performance

Shares of BYD stock traded down $0.51 during trading hours on Tuesday, hitting $60.73. The company's stock had a trading volume of 1,279,578 shares, compared to its average volume of 966,606. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $80.50. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of 9.76, a P/E/G ratio of 4.46 and a beta of 1.31. The business has a fifty day moving average of $71.73 and a 200-day moving average of $71.06.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. As a group, equities research analysts anticipate that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a $0.18 dividend. This is an increase from Boyd Gaming's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.72 annualized dividend and a yield of 1.19%. Boyd Gaming's payout ratio is presently 11.58%.

Boyd Gaming Profile

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. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.