Fmr LLC Has $97.89 Million Position in Boyd Gaming Co. (NYSE:BYD)

FMR LLC decreased its stake in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,514,163 shares of the company's stock after selling 13,696 shares during the quarter. FMR LLC owned about 1.71% of Boyd Gaming worth $97,891,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Victory Capital Management Inc. grew its position in Boyd Gaming by 6,158.8% in the 3rd quarter. Victory Capital Management Inc. now owns 908,905 shares of the company's stock worth $58,761,000 after purchasing an additional 894,383 shares in the last quarter. Long Pond Capital LP purchased a new stake in Boyd Gaming during the 2nd quarter worth about $20,440,000. Ariel Investments LLC boosted its position in shares of Boyd Gaming by 12.5% in the second quarter. Ariel Investments LLC now owns 3,031,691 shares of the company's stock valued at $167,046,000 after acquiring an additional 335,984 shares during the period. American Century Companies Inc. increased its holdings in shares of Boyd Gaming by 19.7% in the second quarter. American Century Companies Inc. now owns 1,149,701 shares of the company's stock worth $63,349,000 after purchasing an additional 189,226 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of Boyd Gaming by 4,816.4% in the 3rd quarter. International Assets Investment Management LLC now owns 184,560 shares of the company's stock valued at $119,320,000 after acquiring an additional 180,806 shares in the last quarter. 76.81% of the stock is owned by institutional investors.

Boyd Gaming Price Performance

Boyd Gaming stock traded up $0.72 during mid-day trading on Friday, hitting $75.55. The company's stock had a trading volume of 528,145 shares, compared to its average volume of 910,332. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $76.73. 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 market capitalization of $6.68 billion, a P/E ratio of 14.38, a P/E/G ratio of 9.71 and a beta of 1.54. The stock's fifty day moving average price is $69.03 and its two-hundred day moving average price is $61.21.

Boyd Gaming announced that its board has authorized a stock repurchase plan on Thursday, December 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Boyd Gaming Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Monday, December 16th. Boyd Gaming's payout ratio is presently 12.98%.

Insider Buying and Selling

In other Boyd Gaming news, CEO Keith Smith sold 30,000 shares of the firm's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $72.15, for a total transaction of $2,164,500.00. Following the completion of the transaction, the chief executive officer now owns 1,101,202 shares in the company, valued at $79,451,724.30. This trade represents a 2.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Josh Hirsberg sold 21,549 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $71.43, for a total value of $1,539,245.07. Following the completion of the sale, the chief financial officer now directly owns 438,615 shares in the company, valued at approximately $31,330,269.45. This represents a 4.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,704 shares of company stock worth $10,540,944. Corporate insiders own 27.94% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on BYD. StockNews.com upgraded Boyd Gaming from a "buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. Bank of America boosted their price target on Boyd Gaming from $68.00 to $72.00 and gave the company a "buy" rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. upped their price target on shares of Boyd Gaming from $68.00 to $69.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Stifel Nicolaus raised their price target on Boyd Gaming from $67.00 to $74.00 and gave the company a "hold" rating in a research note on Friday, October 25th. Finally, Barclays boosted their target price on shares of Boyd Gaming from $70.00 to $71.00 and gave the stock an "equal weight" rating in a research report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $91.38.

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.