Boyd Gaming Co. (NYSE:BYD) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lowered its stake in Boyd Gaming Co. (NYSE:BYD - Free Report) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,194,030 shares of the company's stock after selling 17,103 shares during the period. American Century Companies Inc. owned about 1.35% of Boyd Gaming worth $86,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Quantbot Technologies LP acquired a new position in shares of Boyd Gaming during the fourth quarter worth $1,968,000. Boston Partners boosted its holdings in Boyd Gaming by 36.9% in the fourth quarter. Boston Partners now owns 3,955,544 shares of the company's stock valued at $287,185,000 after purchasing an additional 1,065,887 shares in the last quarter. GWN Securities Inc. purchased a new position in Boyd Gaming in the fourth quarter valued at approximately $234,000. Globeflex Capital L P acquired a new stake in Boyd Gaming during the 4th quarter worth $725,000. Finally, Avantax Advisory Services Inc. purchased a new position in shares of Boyd Gaming during the fourth quarter worth about $205,000. Hedge funds and other institutional investors own 76.81% of the company's stock.

Insider Activity

In other news, Director Christine J. Spadafor sold 1,125 shares of Boyd Gaming stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $75.28, for a total transaction of $84,690.00. Following the sale, the director now directly owns 4,852 shares of the company's stock, valued at approximately $365,258.56. The trade was a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William R. Boyd sold 15,000 shares of Boyd Gaming 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 sale, the director now owns 1,472,970 shares in the company, valued at $116,835,980.40. This represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,125 shares of company stock worth $5,158,490. 27.94% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

BYD has been the topic of a number of research reports. Morgan Stanley downgraded Boyd Gaming from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $82.00 to $81.00 in a research note on Monday, February 24th. JMP Securities reaffirmed a "market perform" rating on shares of Boyd Gaming in a report on Friday, February 7th. Susquehanna upgraded shares of Boyd Gaming from a "neutral" rating to a "positive" rating and reduced their price target for the company from $79.00 to $77.00 in a research report on Wednesday, March 12th. Argus raised shares of Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 price objective on the stock in a research report on Tuesday, December 17th. Finally, Truist Financial upped their target price on shares of Boyd Gaming from $85.00 to $88.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Boyd Gaming currently has a consensus rating of "Moderate Buy" and an average price target of $95.20.

Boyd Gaming Trading Down 1.3 %

Shares of BYD traded down $0.93 during trading hours on Tuesday, hitting $68.25. The stock had a trading volume of 558,351 shares, compared to its average volume of 937,925. 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 $5.72 billion, a P/E ratio of 10.97, a P/E/G ratio of 4.46 and a beta of 1.55. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The company's fifty day simple moving average is $74.22 and its 200 day simple moving average is $70.83.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.96 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%. Equities research analysts forecast 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 stock buyback plan on Thursday, December 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Boyd Gaming Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.05%. This is a boost from Boyd Gaming's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Monday, March 17th. Boyd Gaming's dividend payout ratio is 11.58%.

About Boyd Gaming

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.