AlphaQuest LLC lifted its holdings in Boyd Gaming Co. (NYSE:BYD - Free Report) by 347.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,588 shares of the company's stock after acquiring an additional 9,773 shares during the quarter. AlphaQuest LLC's holdings in Boyd Gaming were worth $913,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. grew its position in Boyd Gaming by 80.3% during the 4th quarter. UMB Bank n.a. now owns 393 shares of the company's stock worth $29,000 after purchasing an additional 175 shares during the period. GAMMA Investing LLC raised its position in Boyd Gaming by 47.4% during the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company's stock valued at $33,000 after acquiring an additional 148 shares in the last quarter. Covestor Ltd raised its position in Boyd Gaming by 54.9% during the third quarter. Covestor Ltd now owns 587 shares of the company's stock valued at $38,000 after acquiring an additional 208 shares in the last quarter. Quarry LP lifted its holdings in Boyd Gaming by 150.1% in the third quarter. Quarry LP now owns 873 shares of the company's stock valued at $56,000 after acquiring an additional 524 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in Boyd Gaming by 921.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 889 shares of the company's stock worth $57,000 after purchasing an additional 802 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company's stock.
Insider Activity
In related news, Chairman Marianne Boyd Johnson sold 50,000 shares of the firm's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the completion of the sale, the chairman now directly owns 1,346,628 shares of the company's stock, valued at approximately $104,606,063.04. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William R. Boyd sold 15,000 shares of the company's stock in a transaction dated 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 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. In the last 90 days, insiders have sold 66,125 shares of company stock valued at $5,158,490. 27.94% of the stock is currently owned by company insiders.
Boyd Gaming Price Performance
Shares of Boyd Gaming stock traded up $2.49 on Friday, hitting $68.48. 1,272,398 shares of the company were exchanged, compared to its average volume of 975,794. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year 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 stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 4.46 and a beta of 1.55. The company has a 50-day moving average price of $74.85 and a 200 day moving average price of $70.30.
Boyd Gaming (NYSE:BYD - Get Free Report) last issued its earnings results 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 predict that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.
Boyd Gaming declared that its board has authorized a share buyback program on Thursday, December 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.
Boyd Gaming Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 represents a $0.72 dividend on an annualized basis and a dividend yield of 1.05%. This is an increase from Boyd Gaming's previous quarterly dividend of $0.17. Boyd Gaming's dividend payout ratio (DPR) is currently 11.58%.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the stock. Barclays boosted their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an "equal weight" 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 decreased their price objective for the stock from $82.00 to $81.00 in a research report on Monday, February 24th. Truist Financial raised their target price on Boyd Gaming from $85.00 to $88.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Stifel Nicolaus upped their price target on Boyd Gaming from $74.00 to $82.00 and gave the stock a "hold" rating in a report on Friday, February 7th. Finally, Mizuho raised their price objective on Boyd Gaming from $79.00 to $86.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.20.
Get Our Latest Report on BYD
About Boyd Gaming
(
Free Report)
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.
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