Boyd Gaming Co. (NYSE:BYD) Stock Position Raised by Sanctuary Advisors LLC

Sanctuary Advisors LLC increased its position in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 25.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,369 shares of the company's stock after buying an additional 9,565 shares during the period. Sanctuary Advisors LLC owned about 0.05% of Boyd Gaming worth $3,062,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Boyd Gaming by 11,891.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 62,117 shares of the company's stock valued at $4,016,000 after buying an additional 61,599 shares during the last quarter. Sei Investments Co. boosted its stake in Boyd Gaming by 24.7% during the 2nd quarter. Sei Investments Co. now owns 497,331 shares of the company's stock valued at $27,403,000 after acquiring an additional 98,508 shares during the last quarter. Ariel Investments LLC grew its holdings in Boyd Gaming by 12.5% during the 2nd quarter. Ariel Investments LLC now owns 3,031,691 shares of the company's stock worth $167,046,000 after acquiring an additional 335,984 shares in the last quarter. Weiss Asset Management LP acquired a new position in Boyd Gaming in the third quarter worth about $7,101,000. Finally, Quadrature Capital Ltd grew its position in shares of Boyd Gaming by 201.3% in the 3rd quarter. Quadrature Capital Ltd now owns 49,951 shares of the company's stock worth $3,229,000 after acquiring an additional 33,374 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.

Boyd Gaming Price Performance

BYD stock traded down $3.07 during trading on Wednesday, hitting $70.81. The company had a trading volume of 833,887 shares, compared to its average volume of 902,808. The business has a 50 day moving average of $70.85 and a 200 day moving average of $62.65. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 9.93 and a beta of 1.54. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $76.73.

Boyd Gaming declared that its Board of Directors has initiated a stock buyback program on Thursday, December 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 7.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Boyd Gaming Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Monday, December 16th. Boyd Gaming's dividend payout ratio (DPR) is presently 12.98%.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Director William R. Boyd sold 25,155 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $69.35, for a total transaction of $1,744,499.25. Following the completion of the transaction, the director now directly owns 1,487,970 shares of the company's stock, valued at approximately $103,190,719.50. This trade represents a 1.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christine J. Spadafor sold 660 shares of the business's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $75.68, for a total value of $49,948.80. Following the completion of the sale, the director now directly owns 5,977 shares in the company, valued at $452,339.36. This represents a 9.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,364 shares of company stock worth $10,590,893 over the last quarter. 27.94% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Morgan Stanley raised their price objective on Boyd Gaming from $74.00 to $78.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. Argus upgraded shares of Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 price target on the stock in a research report on Tuesday. Mizuho reaffirmed an "outperform" rating and set a $79.00 price objective (up previously from $78.00) on shares of Boyd Gaming in a research report on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on shares of Boyd Gaming from $69.00 to $74.00 and gave the stock a "neutral" rating in a research note on Friday, December 13th. Finally, Bank of America lifted their target price on Boyd Gaming from $68.00 to $72.00 and gave the company a "buy" rating in a research note on Tuesday, September 17th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $91.64.

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.