Edgestream Partners L.P. Boosts Holdings in Boyd Gaming Co. (NYSE:BYD)

Edgestream Partners L.P. grew its stake in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 1,293.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 67,900 shares of the company's stock after buying an additional 63,026 shares during the quarter. Edgestream Partners L.P. owned approximately 0.08% of Boyd Gaming worth $4,925,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in Boyd Gaming during the 4th quarter worth $43,273,000. Proficio Capital Partners LLC acquired a new position in shares of Boyd Gaming in the fourth quarter valued at approximately $3,847,000. M&T Bank Corp bought a new position in Boyd Gaming in the 4th quarter valued at approximately $226,000. Victory Capital Management Inc. grew its holdings in Boyd Gaming by 1.9% during the 4th quarter. Victory Capital Management Inc. now owns 925,884 shares of the company's stock worth $67,164,000 after acquiring an additional 16,979 shares during the last quarter. Finally, Keybank National Association OH raised its stake in shares of Boyd Gaming by 2.6% during the fourth quarter. Keybank National Association OH now owns 14,039 shares of the company's stock valued at $1,018,000 after acquiring an additional 362 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BYD has been the subject of a number of recent research reports. StockNews.com downgraded Boyd Gaming from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 27th. Truist Financial raised their price objective on Boyd Gaming from $85.00 to $88.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Morgan Stanley cut Boyd Gaming from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $82.00 to $81.00 in a report on Monday, February 24th. Wells Fargo & Company raised their price target on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Finally, Stifel Nicolaus upped their price objective on shares of Boyd Gaming from $74.00 to $82.00 and gave the company a "hold" rating in a research note on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $95.20.

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Insider Activity at Boyd Gaming

In related news, 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 transaction 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. The trade was a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christine J. Spadafor sold 1,125 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $75.28, for a total transaction of $84,690.00. Following the completion of the sale, the director now owns 4,852 shares of the company's stock, valued at approximately $365,258.56. This trade represents a 18.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,785 shares of company stock valued at $5,208,439 over the last 90 days. Insiders own 27.94% of the company's stock.

Boyd Gaming Stock Up 0.5 %

Boyd Gaming stock traded up $0.31 during midday trading on Wednesday, reaching $67.12. The stock had a trading volume of 942,660 shares, compared to its average volume of 963,851. The company has a fifty day moving average price of $74.95 and a two-hundred day moving average price of $70.32. The company has a market capitalization of $5.62 billion, a P/E ratio of 10.79, a PEG ratio of 4.46 and a beta of 1.55. 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 Co. has a 12 month low of $49.34 and a 12 month high of $80.50.

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, topping the consensus estimate of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. As a group, equities analysts expect that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Monday, March 17th. This is a positive change from Boyd Gaming's previous quarterly dividend of $0.17. Boyd Gaming's dividend payout ratio (DPR) is currently 11.58%.

Boyd Gaming announced that its Board of Directors has approved a share buyback plan on Thursday, December 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 7.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management 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.