New Age Alpha Advisors LLC Invests $1.07 Million in Boyd Gaming Co. (NYSE:BYD)

New Age Alpha Advisors LLC purchased a new position in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,802 shares of the company's stock, valued at approximately $1,074,000.

Several other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. boosted its stake in Boyd Gaming by 80.3% during the 4th quarter. UMB Bank n.a. now owns 393 shares of the company's stock worth $29,000 after purchasing an additional 175 shares during the last quarter. GAMMA Investing LLC grew its stake in Boyd Gaming by 47.4% during the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company's stock valued at $33,000 after acquiring an additional 148 shares in the last quarter. Quarry LP raised its holdings in Boyd Gaming by 150.1% in the 3rd quarter. Quarry LP now owns 873 shares of the company's stock valued at $56,000 after acquiring an additional 524 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Boyd Gaming during the 4th quarter worth approximately $67,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Boyd Gaming in the third quarter valued at approximately $64,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 50,000 shares of the firm's stock in a transaction 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 completion of the sale, the chairman now directly owns 1,346,628 shares of the company's stock, valued at approximately $104,606,063.04. This trade represents a 3.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christine J. Spadafor sold 1,125 shares of Boyd Gaming stock in a transaction 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 $365,258.56. This trade represents a 18.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,125 shares of company stock valued at $5,158,490 over the last quarter. Company insiders own 21.97% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages have issued reports on BYD. JMP Securities reaffirmed a "market perform" rating on shares of Boyd Gaming in a research note on Friday, February 7th. Barclays boosted their price objective on Boyd Gaming from $74.00 to $78.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. JPMorgan Chase & Co. lifted their price objective on shares of Boyd Gaming from $74.00 to $80.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Susquehanna upgraded shares of Boyd Gaming from a "neutral" rating to a "positive" rating and reduced their target price for the stock from $79.00 to $77.00 in a report on Wednesday, March 12th. Finally, Morgan Stanley downgraded shares of Boyd Gaming from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $82.00 to $81.00 in a research note on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $95.00.

Boyd Gaming Trading Down 2.9 %

BYD traded down $1.83 on Friday, reaching $61.53. 917,481 shares of the company's stock were exchanged, compared to its average volume of 963,280. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $80.50. The company's 50 day moving average is $72.94 and its 200-day moving average is $71.05. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The company has a market cap of $5.08 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 4.46 and a beta of 1.55.

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 (EPS) 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%. Equities analysts predict that Boyd Gaming Co. will post 6.52 earnings per share for the current year.

Boyd Gaming announced that its board has initiated a stock repurchase program on Thursday, December 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 7.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

Boyd Gaming Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Monday, March 17th. This is a boost from Boyd Gaming's previous quarterly dividend of $0.17. Boyd Gaming's payout ratio is currently 11.58%.

About Boyd Gaming

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.