BI Asset Management Fondsmaeglerselskab A S Takes $571,000 Position in Boyd Gaming Co. (NYSE:BYD)

BI Asset Management Fondsmaeglerselskab A S bought a new position in Boyd Gaming Co. (NYSE:BYD - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,872 shares of the company's stock, valued at approximately $571,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. increased its holdings in Boyd Gaming by 80.3% in the fourth quarter. UMB Bank n.a. now owns 393 shares of the company's stock worth $29,000 after buying an additional 175 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Boyd Gaming by 47.4% during the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company's stock worth $33,000 after purchasing an additional 148 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Boyd Gaming during the 3rd quarter worth $64,000. Golden State Wealth Management LLC bought a new position in shares of Boyd Gaming during the 4th quarter valued at $67,000. Finally, Investment Counsel Co. of Nevada acquired a new stake in shares of Boyd Gaming in the 4th quarter valued at $73,000. 76.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wells Fargo & Company raised their target price on Boyd Gaming from $82.00 to $88.00 and gave the company an "overweight" rating in a report on Friday, February 7th. JPMorgan Chase & Co. boosted their target price on Boyd Gaming from $74.00 to $80.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Mizuho lowered their price target on Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley dropped their price target on shares of Boyd Gaming from $75.00 to $72.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, Truist Financial lowered their target price on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, Boyd Gaming presently has a consensus rating of "Moderate Buy" and an average target price of $95.07.

Boyd Gaming Stock Performance

Shares of NYSE BYD traded down $0.45 during mid-day trading on Tuesday, hitting $68.83. The company had a trading volume of 140,895 shares, compared to its average volume of 962,820. Boyd Gaming Co. has a 12 month low of $49.34 and a 12 month high of $80.50. The firm has a market cap of $5.68 billion, a P/E ratio of 11.07, a PEG ratio of 4.46 and a beta of 1.31. The business's 50-day simple moving average is $68.17 and its 200-day simple moving average is $71.25. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.52 by $0.10. The company had revenue of $991.57 million during the quarter, compared to the consensus estimate of $976.38 million. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. The company's quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $1.51 EPS. As a group, analysts predict that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.05%. The ex-dividend date was Monday, March 17th. This is a positive change from Boyd Gaming's previous quarterly dividend of $0.17. Boyd Gaming's payout ratio is 11.75%.

Insider Activity

In other news, Chairman Marianne Boyd Johnson sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total value of $3,884,000.00. Following the sale, the chairman now directly owns 1,346,628 shares in the company, valued at approximately $104,606,063.04. This represents a 3.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William R. Boyd sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total value of $1,189,800.00. Following the transaction, the director now owns 1,472,970 shares of the company's stock, valued at $116,835,980.40. This trade represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,125 shares of company stock worth $5,158,490. 27.94% of the stock is currently owned by corporate insiders.

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.