Allspring Global Investments Holdings LLC Buys 140,707 Shares of Boyd Gaming Co. (NYSE:BYD)

Allspring Global Investments Holdings LLC grew its stake in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 226.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 202,824 shares of the company's stock after acquiring an additional 140,707 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.23% of Boyd Gaming worth $14,569,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp increased its holdings in shares of Boyd Gaming by 0.8% during the third quarter. State Street Corp now owns 2,108,672 shares of the company's stock valued at $136,680,000 after acquiring an additional 17,591 shares in the last quarter. Geode Capital Management LLC boosted 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 valued at $74,611,000 after buying an additional 33,379 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Boyd Gaming by 5.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 971,921 shares of the company's stock valued at $62,835,000 after buying an additional 54,128 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Boyd Gaming by 6,158.8% during the third quarter. Victory Capital Management Inc. now owns 908,905 shares of the company's stock valued at $58,761,000 after buying an additional 894,383 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its position in shares of Boyd Gaming by 2.4% during the third quarter. Pinnacle Associates Ltd. now owns 679,178 shares of the company's stock valued at $42,523,000 after buying an additional 16,159 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors.

Insider Transactions at Boyd Gaming

In other news, CEO Keith Smith sold 30,000 shares of Boyd Gaming stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $72.15, for a total value of $2,164,500.00. Following the completion of the transaction, the chief executive officer now owns 1,101,202 shares in the company, valued at approximately $79,451,724.30. The trade was a 2.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total value of $3,884,000.00. Following the transaction, the chairman now owns 1,346,628 shares of the company's stock, valued at approximately $104,606,063.04. The trade was a 3.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,660 shares of company stock worth $6,098,449. 27.94% of the stock is currently owned by company insiders.

Boyd Gaming Price Performance

NYSE:BYD traded down $0.20 during trading hours on Thursday, reaching $79.32. The stock had a trading volume of 640,443 shares, compared to its average volume of 956,976. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. Boyd Gaming Co. has a 52 week low of $49.34 and a 52 week high of $80.50. The company has a 50 day moving average price of $74.64 and a two-hundred day moving average price of $68.61. The stock has a market capitalization of $7.01 billion, a PE ratio of 12.75, a PEG ratio of 4.46 and a beta of 1.54.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, topping 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, sell-side analysts anticipate that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming declared that its board has initiated a share buyback plan on Thursday, December 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 7.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Boyd Gaming Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $0.18 dividend. This is a boost from Boyd Gaming's previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.91%. Boyd Gaming's payout ratio is 10.93%.

Analysts Set New Price Targets

Several equities research analysts recently commented on BYD shares. JPMorgan Chase & Co. increased their price objective on Boyd Gaming from $74.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. Jefferies Financial Group raised Boyd Gaming from a "hold" rating to a "buy" rating and raised their target price for the stock from $73.00 to $92.00 in a research report on Friday, January 3rd. Truist Financial raised their target price on Boyd Gaming from $85.00 to $88.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Susquehanna raised their price objective on Boyd Gaming from $69.00 to $77.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Finally, Stifel Nicolaus raised their price objective on Boyd Gaming from $74.00 to $82.00 and gave the stock a "hold" rating in a research note on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $95.00.

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.