Alliancebernstein L.P. Reduces Holdings in Boyd Gaming Co. (NYSE:BYD)

Alliancebernstein L.P. lessened its holdings in Boyd Gaming Co. (NYSE:BYD - Free Report) by 9.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 85,185 shares of the company's stock after selling 9,139 shares during the quarter. Alliancebernstein L.P. owned approximately 0.10% of Boyd Gaming worth $6,179,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BYD. Boston Partners grew its holdings in shares of Boyd Gaming by 36.9% in the fourth quarter. Boston Partners now owns 3,955,544 shares of the company's stock worth $287,185,000 after purchasing an additional 1,065,887 shares during the last quarter. State Street Corp boosted its position in Boyd Gaming by 0.8% in the 3rd quarter. State Street Corp now owns 2,108,672 shares of the company's stock valued at $136,680,000 after buying an additional 17,591 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Boyd Gaming by 51.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company's stock worth $94,074,000 after acquiring an additional 441,963 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Boyd Gaming by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,153,768 shares of the company's stock worth $74,611,000 after acquiring an additional 33,379 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Boyd Gaming by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 974,973 shares of the company's stock valued at $70,725,000 after acquiring an additional 3,052 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company's stock.

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Analyst Ratings Changes

Several research analysts recently issued reports on BYD shares. Jefferies Financial Group raised Boyd Gaming from a "hold" rating to a "buy" rating and increased their price objective for the stock from $73.00 to $92.00 in a research note on Friday, January 3rd. Argus raised shares of Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 price objective for the company in a research note on Tuesday, December 17th. Mizuho boosted their price target on shares of Boyd Gaming from $79.00 to $86.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Morgan Stanley lowered shares of Boyd Gaming from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $82.00 to $81.00 in a report on Monday, February 24th. Finally, Truist Financial cut their price target on Boyd Gaming from $92.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $95.00.

Insider Buying and Selling

In other news, Director Christine J. Spadafor sold 1,125 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $75.28, for a total transaction of $84,690.00. Following the completion of the transaction, the director now directly owns 4,852 shares of the company's stock, valued at $365,258.56. This represents a 18.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William R. Boyd sold 15,000 shares of Boyd Gaming stock in a transaction on 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 completion of the sale, the director now directly owns 1,472,970 shares in the company, valued at $116,835,980.40. This represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,125 shares of company stock valued at $5,158,490. Corporate insiders own 27.94% of the company's stock.

Boyd Gaming Stock Performance

Shares of BYD stock traded up $0.61 during trading hours on Tuesday, hitting $65.27. The company's stock had a trading volume of 520,043 shares, compared to its average volume of 977,771. The stock has a market cap of $5.39 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 4.46 and a beta of 1.31. The company has a 50 day moving average of $70.35 and a 200 day moving average of $71.06. Boyd Gaming Co. has a 12-month low of $49.34 and a 12-month high of $80.50. 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 (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. On average, sell-side analysts forecast that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, March 17th. This is an increase from Boyd Gaming's previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.10%. Boyd Gaming's dividend payout ratio is 11.58%.

About Boyd Gaming

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.