LPL Financial LLC Increases Stock Position in Boyd Gaming Co. (NYSE:BYD)

LPL Financial LLC lifted its stake in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 274.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 112,256 shares of the company's stock after acquiring an additional 82,258 shares during the quarter. LPL Financial LLC owned 0.13% of Boyd Gaming worth $8,143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Rhumbline Advisers increased its holdings in Boyd Gaming by 1.0% during the 4th quarter. Rhumbline Advisers now owns 185,714 shares of the company's stock worth $13,472,000 after purchasing an additional 1,797 shares during the period. Sanctuary Advisors LLC grew its position in shares of Boyd Gaming by 25.3% during the third quarter. Sanctuary Advisors LLC now owns 47,369 shares of the company's stock worth $3,062,000 after buying an additional 9,565 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Boyd Gaming by 226.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 202,824 shares of the company's stock worth $14,569,000 after buying an additional 140,707 shares during the period. Truist Financial Corp increased its stake in shares of Boyd Gaming by 20.7% during the fourth quarter. Truist Financial Corp now owns 4,458 shares of the company's stock worth $323,000 after buying an additional 765 shares during the period. Finally, GC Wealth Management RIA LLC acquired a new stake in Boyd Gaming in the fourth quarter valued at approximately $307,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions 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 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 represents a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of Boyd Gaming stock in a transaction that occurred on 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. This trade represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,125 shares of company stock worth $5,158,490 in the last three months. Company insiders own 27.94% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BYD shares. Truist Financial dropped their price objective on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. StockNews.com cut Boyd Gaming from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 27th. Wells Fargo & Company increased their target price on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Barclays lifted their price objective on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Finally, Stifel Nicolaus boosted their target price on Boyd Gaming from $74.00 to $82.00 and gave the stock a "hold" rating in a research report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Boyd Gaming presently has an average rating of "Moderate Buy" and a consensus target price of $95.00.

Boyd Gaming Price Performance

Shares of NYSE BYD traded down $3.23 during trading on Thursday, reaching $64.32. The company had a trading volume of 1,157,865 shares, compared to its average volume of 977,201. 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 twelve month low of $49.34 and a twelve month high of $80.50. The stock has a 50-day moving average price of $71.09 and a two-hundred day moving average price of $71.06. The stock has a market capitalization of $5.31 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 4.46 and a beta of 1.31.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $1.96 earnings per share for the quarter, beating 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, sell-side analysts predict that Boyd Gaming Co. will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The firm 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 $0.18 dividend. This is a positive change from Boyd Gaming's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Monday, March 17th. Boyd Gaming's dividend payout ratio is presently 11.58%.

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.