Aristides Capital LLC Acquires New Holdings in Boyd Gaming Co. (NYSE:BYD)

Aristides Capital LLC acquired a new position in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,478 shares of the company's stock, valued at approximately $325,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners grew its holdings in shares of Boyd Gaming by 36.9% during the fourth quarter. Boston Partners now owns 3,955,544 shares of the company's stock worth $287,185,000 after buying an additional 1,065,887 shares in the last quarter. Norges Bank purchased a new stake in Boyd Gaming in the 4th quarter worth approximately $55,553,000. Raymond James Financial Inc. purchased a new position in shares of Boyd Gaming during the 4th quarter worth $43,273,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Boyd Gaming by 51.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company's stock worth $94,074,000 after purchasing an additional 441,963 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Boyd Gaming by 37.2% in the fourth quarter. Franklin Resources Inc. now owns 964,051 shares of the company's stock valued at $69,932,000 after purchasing an additional 261,443 shares during the period. Institutional investors and hedge funds own 76.81% of the company's stock.

Boyd Gaming Stock Up 0.4 %

BYD traded up $0.25 on Friday, reaching $64.55. The company's stock had a trading volume of 945,221 shares, compared to its average volume of 978,304. The business's 50 day moving average is $70.85 and its 200 day moving average is $71.06. Boyd Gaming Co. has a 1 year low of $49.34 and a 1 year high of $80.50. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 4.46 and a beta of 1.31. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79.

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Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings results 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 net margin of 14.70% and a return on equity of 35.97%. As a group, research analysts forecast that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.72 annualized dividend and a yield of 1.12%. This is a boost from Boyd Gaming's previous quarterly dividend of $0.17. Boyd Gaming's dividend payout ratio is presently 11.58%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Stifel Nicolaus raised their price target on Boyd Gaming from $74.00 to $82.00 and gave the stock a "hold" rating in a research note on Friday, February 7th. Morgan Stanley downgraded shares of Boyd Gaming from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $82.00 to $81.00 in a report on Monday, February 24th. JPMorgan Chase & Co. increased their price target on shares of Boyd Gaming from $74.00 to $80.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. StockNews.com cut shares of Boyd Gaming from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 27th. Finally, Truist Financial reduced their price target on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Boyd Gaming has a consensus rating of "Moderate Buy" and a consensus price target of $95.00.

Insiders Place Their Bets

In other news, Director William R. Boyd sold 15,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total value of $1,189,800.00. Following the transaction, the director now directly owns 1,472,970 shares in the company, valued at approximately $116,835,980.40. This trade represents a 1.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of Boyd Gaming stock in a transaction that occurred 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,125 shares of company stock valued at $5,158,490 in the last quarter. Insiders own 27.94% of the company's stock.

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.