Boyd Gaming Co. (NYSE:BYD) Shares Purchased by Diametric Capital LP

Diametric Capital LP grew its stake in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 241.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 42,630 shares of the company's stock after acquiring an additional 30,149 shares during the period. Boyd Gaming comprises about 2.1% of Diametric Capital LP's portfolio, making the stock its 3rd largest holding. Diametric Capital LP's holdings in Boyd Gaming were worth $3,092,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. UMB Bank n.a. lifted its holdings in shares of Boyd Gaming by 80.3% during the fourth quarter. UMB Bank n.a. now owns 393 shares of the company's stock valued at $29,000 after purchasing an additional 175 shares during the last quarter. GAMMA Investing LLC lifted its stake in Boyd Gaming by 47.4% during 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. Quarry LP lifted its stake in Boyd Gaming by 150.1% during the third quarter. Quarry LP now owns 873 shares of the company's stock valued at $56,000 after buying an additional 524 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Boyd Gaming in the third quarter worth about $64,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Boyd Gaming in the fourth quarter worth approximately $67,000. 76.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Susquehanna raised shares of Boyd Gaming from a "neutral" rating to a "positive" rating and decreased their price objective for the stock from $79.00 to $77.00 in a research note on Wednesday, March 12th. StockNews.com downgraded Boyd Gaming from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 27th. Argus raised Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 price objective for the company in a research note on Tuesday, December 17th. JMP Securities reaffirmed a "market perform" rating on shares of Boyd Gaming in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Boyd Gaming from $74.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $95.00.

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Insider Buying and Selling at Boyd Gaming

In other news, Director Christine J. Spadafor sold 1,125 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $365,258.56. The trade was a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William R. Boyd sold 15,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the transaction, the director now directly 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 disclosure for this sale can be found here. Insiders sold a total of 66,125 shares of company stock valued at $5,158,490 in the last ninety days. Company insiders own 21.97% of the company's stock.

Boyd Gaming Stock Down 6.2 %

Shares of NYSE:BYD traded down $4.17 on Thursday, reaching $63.41. The company had a trading volume of 982,523 shares, compared to its average volume of 955,254. The stock has a market capitalization of $5.23 billion, a P/E ratio of 10.19, a P/E/G ratio of 4.46 and a beta of 1.55. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The stock has a 50-day moving average price of $73.18 and a 200 day moving average price of $71.11. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $80.50.

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 (EPS) for the quarter, beating 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%. On average, equities analysts expect that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 yield of 1.14%. The ex-dividend date of this dividend is Monday, March 17th. Boyd Gaming's dividend payout ratio is presently 11.58%.

Boyd Gaming declared that its Board of Directors has initiated a stock repurchase plan on Thursday, December 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its stock is undervalued.

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.