10,000 Shares in Boyd Gaming Co. (NYSE:BYD) Acquired by Globeflex Capital L P

Globeflex Capital L P bought a new stake in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,000 shares of the company's stock, valued at approximately $725,000.

Several other large investors also recently modified their holdings of the stock. Victory Capital Management Inc. raised its position in shares of Boyd Gaming by 6,158.8% in the 3rd quarter. Victory Capital Management Inc. now owns 908,905 shares of the company's stock valued at $58,761,000 after buying an additional 894,383 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Boyd Gaming in the 4th quarter valued at $43,273,000. Goldentree Asset Management LP bought a new position in Boyd Gaming in the third quarter valued at about $11,490,000. Allspring Global Investments Holdings LLC increased its position in Boyd Gaming by 226.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 202,824 shares of the company's stock worth $14,569,000 after purchasing an additional 140,707 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new position in shares of Boyd Gaming during the third quarter worth $7,101,000. 76.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BYD has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Boyd Gaming from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 27th. Susquehanna raised Boyd Gaming from a "neutral" rating to a "positive" rating and decreased their target price for the stock from $79.00 to $77.00 in a research note on Wednesday, March 12th. Truist Financial boosted their price target on Boyd Gaming from $85.00 to $88.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Morgan Stanley downgraded shares of Boyd Gaming from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $82.00 to $81.00 in a research report on Monday, February 24th. Finally, Stifel Nicolaus lifted 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 equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $95.20.

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Boyd Gaming Stock Up 2.0 %

Shares of NYSE:BYD traded up $1.39 during midday trading on Wednesday, hitting $69.21. 1,067,291 shares of the company's stock were exchanged, compared to its average volume of 930,051. 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 Co. has a 12 month low of $49.34 and a 12 month high of $80.50. The company has a market cap of $5.80 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 4.46 and a beta of 1.55. The stock has a 50 day moving average price of $74.47 and a 200-day moving average price of $70.60.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.96 EPS 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%. On average, sell-side analysts anticipate that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a $0.18 dividend. This is a positive change from Boyd Gaming's previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.04%. 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 has authorized a stock buyback plan on Thursday, December 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Boyd Gaming

In related news, Director Christine J. Spadafor sold 1,125 shares of the 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 completion of the sale, the director now directly owns 4,852 shares of the company's stock, valued at approximately $365,258.56. This trade represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the business'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 completion of 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. In the last three months, insiders have sold 66,125 shares of company stock worth $5,158,490. Corporate insiders own 27.94% of the company's stock.

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.