Allspring Global Investments Holdings LLC Boosts Stock Position in Boyd Gaming Co. (NYSE:BYD)

Allspring Global Investments Holdings LLC increased its stake in Boyd Gaming Co. (NYSE:BYD - Free Report) by 11,891.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 62,117 shares of the company's stock after buying an additional 61,599 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.07% of Boyd Gaming worth $4,016,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BYD. State of Michigan Retirement System increased its position in shares of Boyd Gaming by 2.4% during the first quarter. State of Michigan Retirement System now owns 17,024 shares of the company's stock valued at $1,146,000 after buying an additional 400 shares during the period. Retirement Systems of Alabama increased its position in shares of Boyd Gaming by 14.8% during the first quarter. Retirement Systems of Alabama now owns 223,978 shares of the company's stock valued at $15,078,000 after buying an additional 28,844 shares during the period. BNP Paribas Financial Markets increased its position in shares of Boyd Gaming by 115.0% during the first quarter. BNP Paribas Financial Markets now owns 67,755 shares of the company's stock valued at $4,561,000 after buying an additional 36,237 shares during the period. Fortem Financial Group LLC increased its position in shares of Boyd Gaming by 10.3% during the first quarter. Fortem Financial Group LLC now owns 17,289 shares of the company's stock valued at $1,164,000 after buying an additional 1,615 shares during the period. Finally, Texas Permanent School Fund Corp increased its position in shares of Boyd Gaming by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 60,810 shares of the company's stock valued at $4,094,000 after buying an additional 786 shares during the period. 76.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Christine J. Spadafor sold 1,242 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the sale, the director now directly owns 1,096 shares of the company's stock, valued at $66,154.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Christine J. Spadafor sold 1,242 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the sale, the director now directly owns 1,096 shares of the company's stock, valued at $66,154.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm's stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $60.23, for a total value of $4,404,619.90. Following the completion of the transaction, the chairman now directly owns 1,423,498 shares in the company, valued at $85,737,284.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 27.94% of the company's stock.

Boyd Gaming Stock Down 0.0 %

BYD traded down $0.02 during trading on Tuesday, reaching $71.63. The stock had a trading volume of 1,373,698 shares, compared to its average volume of 927,460. The stock's 50 day moving average is $62.94 and its two-hundred day moving average is $58.45. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 12.86 and a beta of 1.57. Boyd Gaming Co. has a one year low of $49.34 and a one year high of $72.18.

Boyd Gaming Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Sunday, September 15th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.68 annualized dividend and a dividend yield of 0.95%. Boyd Gaming's payout ratio is presently 12.21%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BYD. Stifel Nicolaus upped their price objective on shares of Boyd Gaming from $67.00 to $74.00 and gave the stock a "hold" rating in a research report on Friday. Barclays upped their target price on Boyd Gaming from $70.00 to $71.00 and gave the stock an "equal weight" rating in a research note on Friday. Mizuho reaffirmed an "outperform" rating and issued a $79.00 target price (up previously from $78.00) on shares of Boyd Gaming in a research note on Friday. Morgan Stanley increased their price objective on Boyd Gaming from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company increased their price objective on Boyd Gaming from $75.00 to $79.00 and gave the company an "overweight" rating in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $91.38.

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.