Y Intercept Hong Kong Ltd decreased its stake in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 68.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,377 shares of the company's stock after selling 11,581 shares during the period. Y Intercept Hong Kong Ltd's holdings in Boyd Gaming were worth $390,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Venturi Wealth Management LLC lifted its stake in shares of Boyd Gaming by 105.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,941 shares of the company's stock valued at $141,000 after buying an additional 998 shares during the period. Truist Financial Corp raised its holdings in Boyd Gaming by 20.7% in the 4th quarter. Truist Financial Corp now owns 4,458 shares of the company's stock valued at $323,000 after acquiring an additional 765 shares during the last quarter. CIBC Asset Management Inc purchased a new position in shares of Boyd Gaming during the 4th quarter worth $215,000. Sanctuary Advisors LLC boosted its holdings in shares of Boyd Gaming by 1.8% during the fourth quarter. Sanctuary Advisors LLC now owns 48,205 shares of the company's stock worth $3,751,000 after purchasing an additional 836 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of Boyd Gaming by 2,735.1% in the fourth quarter. Allworth Financial LP now owns 1,049 shares of the company's stock valued at $79,000 after purchasing an additional 1,012 shares during the period. 76.81% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the company. JMP Securities reiterated a "market perform" rating on shares of Boyd Gaming in a research report on Friday, February 7th. Morgan Stanley lowered shares of Boyd Gaming from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $82.00 to $81.00 in a report on Monday, February 24th. Wells Fargo & Company boosted their target price on shares of Boyd Gaming from $82.00 to $88.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Argus raised 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 note on Tuesday, December 17th. Finally, StockNews.com cut shares of Boyd Gaming from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $95.20.
Read Our Latest Analysis on Boyd Gaming
Boyd Gaming Stock Down 3.8 %
NYSE:BYD traded down $2.76 during trading hours on Friday, hitting $69.06. The stock had a trading volume of 867,712 shares, compared to its average volume of 925,603. The company has a market cap of $5.78 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 4.46 and a beta of 1.54. The business has a 50 day simple moving average of $75.26 and a two-hundred day simple moving average of $69.98. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $80.50. 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 (NYSE:BYD - Get Free Report) last issued 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 net margin of 14.70% and a return on equity of 35.97%. Analysts predict that Boyd Gaming Co. will post 6.52 EPS for the current year.
Boyd Gaming Increases Dividend
The firm 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 dividend of $0.18 per share. 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 is 11.58%.
Boyd Gaming declared that its Board of Directors has approved 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 repurchase up to 7.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.
Insider Transactions at Boyd Gaming
In other Boyd Gaming news, Director William R. Boyd sold 15,000 shares of Boyd Gaming stock in a transaction 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 owns 1,472,970 shares of the company's stock, valued at $116,835,980.40. The trade was a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the sale, the chairman now owns 1,346,628 shares of the company's stock, valued at approximately $104,606,063.04. The trade was a 3.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,785 shares of company stock valued at $5,208,439. 27.94% of the stock is currently owned by corporate insiders.
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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