UBS Group AG trimmed its stake in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 14.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,619 shares of the company's stock after selling 40,616 shares during the quarter. UBS Group AG owned 0.24% of Boyd Gaming worth $14,627,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. lifted its position in shares of Boyd Gaming by 885.4% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,657,441 shares of the company's stock worth $100,822,000 after buying an additional 1,489,240 shares during the last quarter. Norges Bank purchased a new stake in Boyd Gaming in the fourth quarter valued at $44,773,000. Boston Partners grew its holdings in shares of Boyd Gaming by 29.5% during the fourth quarter. Boston Partners now owns 2,756,215 shares of the company's stock worth $172,638,000 after purchasing an additional 628,512 shares during the last quarter. HG Vora Capital Management LLC increased its position in shares of Boyd Gaming by 12.5% during the third quarter. HG Vora Capital Management LLC now owns 2,250,000 shares of the company's stock worth $136,868,000 after purchasing an additional 250,000 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Boyd Gaming by 40.5% in the 3rd quarter. American Century Companies Inc. now owns 824,200 shares of the company's stock valued at $50,136,000 after purchasing an additional 237,525 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.
Analyst Ratings Changes
Several research firms have recently weighed in on BYD. Barclays decreased their price objective on Boyd Gaming from $70.00 to $68.00 and set an "equal weight" rating for the company in a report on Friday, April 26th. Stifel Nicolaus dropped their price objective on shares of Boyd Gaming from $71.00 to $65.00 and set a "hold" rating on the stock in a research note on Friday, April 26th. Royal Bank of Canada decreased their target price on shares of Boyd Gaming from $337.00 to $308.00 and set an "outperform" rating for the company in a research note on Thursday, May 16th. Raymond James began coverage on Boyd Gaming in a research note on Tuesday, May 21st. They set an "outperform" rating and a $67.00 price objective for the company. Finally, Truist Financial lowered their target price on Boyd Gaming from $80.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, April 26th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $91.42.
Check Out Our Latest Research Report on Boyd Gaming
Boyd Gaming Price Performance
BYD stock traded up $2.05 during midday trading on Friday, hitting $53.32. 1,454,868 shares of the stock were exchanged, compared to its average volume of 996,845. The stock's 50-day moving average price is $59.09 and its 200-day moving average price is $61.29. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.77 and a current ratio of 0.80. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 9.57 and a beta of 1.64. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $73.00.
Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.51 EPS for the quarter, missing analysts' consensus estimates of $1.57 by ($0.06). Boyd Gaming had a net margin of 14.91% and a return on equity of 34.76%. The business had revenue of $960.52 million during the quarter, compared to analyst estimates of $947.26 million. Research analysts predict that Boyd Gaming Co. will post 6.06 earnings per share for the current year.
Boyd Gaming Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Saturday, June 15th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, June 14th. Boyd Gaming's payout ratio is currently 12.21%.
Boyd Gaming announced that its Board of Directors has authorized a share repurchase program on Monday, May 13th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 9.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.
Insider Buying and Selling at Boyd Gaming
In related news, major shareholder William S. Boyd sold 125,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $63.77, for a total transaction of $7,971,250.00. Following the transaction, the insider now directly owns 9,358,913 shares in the company, valued at $596,817,882.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Boyd Gaming news, Director A. Randall Thoman sold 2,500 shares of the company's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total transaction of $159,375.00. Following the completion of the sale, the director now directly owns 4,017 shares in the company, valued at $256,083.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder William S. Boyd sold 125,000 shares of Boyd Gaming stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $63.77, for a total value of $7,971,250.00. Following the completion of the transaction, the insider now directly owns 9,358,913 shares in the company, valued at $596,817,882.01. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 317,838 shares of company stock worth $20,201,507. 27.94% of the stock is owned by insiders.
Boyd Gaming Company Profile
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Free Report)
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.
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