Bank of New York Mellon Corp Decreases Position in Boyd Gaming Co. (NYSE:BYD)

Bank of New York Mellon Corp reduced its position in Boyd Gaming Co. (NYSE:BYD - Free Report) by 3.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 685,096 shares of the company's stock after selling 27,929 shares during the period. Bank of New York Mellon Corp owned about 0.78% of Boyd Gaming worth $49,697,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. UMB Bank n.a. lifted its stake in Boyd Gaming by 80.3% in the 4th quarter. UMB Bank n.a. now owns 393 shares of the company's stock valued at $29,000 after purchasing an additional 175 shares during the last quarter. GAMMA Investing LLC boosted its position in Boyd Gaming by 47.4% in the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company's stock valued at $33,000 after buying an additional 148 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Boyd Gaming by 54.9% during the third quarter. Covestor Ltd now owns 587 shares of the company's stock worth $38,000 after purchasing an additional 208 shares during the period. Quarry LP raised its stake in Boyd Gaming by 150.1% during the third quarter. Quarry LP now owns 873 shares of the company's stock worth $56,000 after buying an additional 524 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in Boyd Gaming by 921.8% in the third quarter. Farther Finance Advisors LLC now owns 889 shares of the company's stock valued at $57,000 after purchasing an additional 802 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Boyd Gaming Stock Down 4.0 %

Shares of BYD traded down $2.86 during trading on Friday, reaching $68.95. The company's stock had a trading volume of 1,826,938 shares, compared to its average volume of 949,030. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $80.50. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 4.46 and a beta of 1.55. The company has a fifty day moving average of $75.18 and a two-hundred day moving average of $70.14.

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Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings data 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%. On average, sell-side analysts predict that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming announced that its Board of Directors has authorized a share buyback program on Thursday, December 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

Boyd Gaming Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a $0.18 dividend. This is a boost from Boyd Gaming's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Monday, March 17th. Boyd Gaming's dividend payout ratio (DPR) is 11.58%.

Insider Buying and Selling

In other Boyd Gaming news, Director Christine J. Spadafor sold 660 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $75.68, for a total transaction of $49,948.80. Following the transaction, the director now owns 5,977 shares of the company's stock, valued at $452,339.36. The trade was a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William R. Boyd sold 15,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 1,472,970 shares in the company, valued at $116,835,980.40. The trade was a 1.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,785 shares of company stock valued at $5,208,439 over the last three months. Company insiders own 27.94% of the company's stock.

Analysts Set New Price Targets

BYD has been the topic of several analyst reports. Wells Fargo & Company boosted their price target on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Barclays increased their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. JMP Securities reiterated a "market perform" rating on shares of Boyd Gaming in a research report on Friday, February 7th. JPMorgan Chase & Co. raised their price target on shares of Boyd Gaming from $74.00 to $80.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Finally, Argus raised shares of Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 target price on the stock in a research note on Tuesday, December 17th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $95.20.

Boyd Gaming Company 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.