Franklin Resources Inc. Has $69.93 Million Holdings in Boyd Gaming Co. (NYSE:BYD)

Franklin Resources Inc. grew its holdings in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 37.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 964,051 shares of the company's stock after buying an additional 261,443 shares during the period. Franklin Resources Inc. owned 1.09% of Boyd Gaming worth $69,932,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners boosted its stake in Boyd Gaming by 36.9% during the fourth quarter. Boston Partners now owns 3,955,544 shares of the company's stock valued at $287,185,000 after buying an additional 1,065,887 shares in the last quarter. Norges Bank bought a new stake in shares of Boyd Gaming in the 4th quarter worth approximately $55,553,000. Raymond James Financial Inc. acquired a new stake in Boyd Gaming during the fourth quarter valued at approximately $43,273,000. Arrowstreet Capital Limited Partnership boosted its holdings in Boyd Gaming by 51.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company's stock worth $94,074,000 after buying an additional 441,963 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Boyd Gaming by 226.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 202,824 shares of the company's stock worth $14,569,000 after buying an additional 140,707 shares during the last quarter. Institutional investors own 76.81% of the company's stock.

Insider Transactions at Boyd Gaming

In related news, Director Christine J. Spadafor sold 1,125 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $75.28, for a total value of $84,690.00. Following the completion of the sale, the director now owns 4,852 shares of the company's stock, valued at $365,258.56. This trade represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the company's stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold 66,125 shares of company stock valued at $5,158,490 in the last three months. 27.94% of the stock is owned by corporate insiders.

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Boyd Gaming Price Performance

Shares of Boyd Gaming stock traded up $1.82 during trading on Tuesday, hitting $63.06. 288,571 shares of the company's stock traded hands, compared to its average volume of 977,915. The company has a market cap of $5.20 billion, a PE ratio of 10.14, a PEG ratio of 4.46 and a beta of 1.31. The firm's fifty day moving average price is $72.37 and its 200 day moving average price is $71.15. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $80.50. 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 released its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share for the quarter, beating 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%. Analysts forecast that Boyd Gaming Co. will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The company also recently disclosed 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. This is a positive change from Boyd Gaming's previous quarterly dividend of $0.17. The ex-dividend date is Monday, March 17th. This represents a $0.72 annualized dividend and a dividend yield of 1.14%. Boyd Gaming's dividend payout ratio (DPR) is presently 11.58%.

Wall Street Analyst Weigh In

BYD has been the subject of several research reports. Susquehanna raised Boyd Gaming from a "neutral" rating to a "positive" rating and reduced their price objective for the stock from $79.00 to $77.00 in a research note on Wednesday, March 12th. Barclays boosted their price target on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. StockNews.com lowered shares of Boyd Gaming from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 27th. Mizuho increased their target price on Boyd Gaming from $79.00 to $86.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, JMP Securities reissued a "market perform" rating on shares of Boyd Gaming in a research note on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Boyd Gaming presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.00.

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.