Burns Matteson Capital Management LLC Invests $392,000 in Boyd Gaming Co. (NYSE:BYD)

Burns Matteson Capital Management LLC bought a new position in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,407 shares of the company's stock, valued at approximately $392,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC grew its stake in shares of Boyd Gaming by 25.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 47,369 shares of the company's stock valued at $3,062,000 after purchasing an additional 9,565 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Boyd Gaming by 11,891.7% in the third 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 in the last quarter. Weiss Asset Management LP purchased a new stake in shares of Boyd Gaming in the third quarter valued at approximately $7,101,000. Quadrature Capital Ltd boosted its stake in shares of Boyd Gaming by 201.3% in the third quarter. Quadrature Capital Ltd now owns 49,951 shares of the company's stock valued at $3,229,000 after buying an additional 33,374 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Boyd Gaming by 47.4% in the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company's stock valued at $33,000 after buying an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company's stock.

Insider Activity at Boyd Gaming

In related news, CEO Keith Smith sold 30,000 shares of the company's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $71.77, for a total value of $2,153,100.00. Following the completion of the transaction, the chief executive officer now directly owns 1,131,202 shares in the company, valued at approximately $81,186,367.54. This represents a 2.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the business's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total value of $3,884,000.00. Following 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,660 shares of company stock worth $8,251,549. 27.94% of the stock is currently owned by insiders.

Boyd Gaming Price Performance

Shares of NYSE BYD traded up $1.13 during trading on Thursday, reaching $78.11. The company had a trading volume of 898,449 shares, compared to its average volume of 989,736. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $80.50. The stock has a market capitalization of $6.90 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 4.38 and a beta of 1.54. The stock has a 50-day moving average price of $74.33 and a two-hundred day moving average price of $68.00. 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 released its quarterly earnings results on Thursday, February 6th. The company reported $1.96 earnings per share 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 6.57 earnings per share for the current year.

Boyd Gaming announced that its board has initiated a share buyback plan on Thursday, December 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 7.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.68 annualized dividend and a yield of 0.87%. Boyd Gaming's payout ratio is currently 10.93%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BYD shares. Argus upgraded 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. StockNews.com downgraded Boyd Gaming from a "strong-buy" rating to a "buy" rating in a research note on Tuesday. JMP Securities restated a "market perform" rating on shares of Boyd Gaming in a research note on Friday, February 7th. Mizuho lifted their price target on Boyd Gaming from $79.00 to $86.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, Barclays lifted their price objective on Boyd Gaming from $74.00 to $78.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Seven equities 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 an average target price of $95.00.

Boyd Gaming Company 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.