Proficio Capital Partners LLC Purchases Shares of 53,027 Boyd Gaming Co. (NYSE:BYD)

Proficio Capital Partners LLC bought a new stake in Boyd Gaming Co. (NYSE:BYD - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 53,027 shares of the company's stock, valued at approximately $3,847,000. Proficio Capital Partners LLC owned about 0.06% of Boyd Gaming at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. M&T Bank Corp acquired a new position in Boyd Gaming in the fourth quarter valued at $226,000. Victory Capital Management Inc. grew its position in Boyd Gaming by 1.9% during the fourth quarter. Victory Capital Management Inc. now owns 925,884 shares of the company's stock valued at $67,164,000 after acquiring an additional 16,979 shares during the period. Keybank National Association OH grew its position in Boyd Gaming by 2.6% during the fourth quarter. Keybank National Association OH now owns 14,039 shares of the company's stock valued at $1,018,000 after acquiring an additional 362 shares during the period. Charles Schwab Investment Management Inc. grew its position in Boyd Gaming by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 974,973 shares of the company's stock valued at $70,725,000 after acquiring an additional 3,052 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in Boyd Gaming by 952.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,969 shares of the company's stock valued at $142,000 after acquiring an additional 1,782 shares during the period. 76.81% of the stock is currently owned by institutional investors and hedge funds.

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Boyd Gaming Stock Performance

Shares of Boyd Gaming stock traded up $0.35 on Friday, reaching $68.09. 1,483,935 shares of the company were exchanged, compared to its average volume of 934,530. 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's 50-day moving average is $74.33 and its two-hundred day moving average is $70.57. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 10.95, a P/E/G ratio of 4.46 and a beta of 1.55. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $80.50.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.96 earnings per share 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%. As a group, research analysts expect that Boyd Gaming Co. will post 6.52 earnings per share 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. Stockholders of record on Monday, March 17th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.06%. This is a boost from Boyd Gaming's previous quarterly dividend of $0.17. 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 of Directors has initiated a share repurchase plan on Thursday, December 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. 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 report on Tuesday, February 4th. Barclays upped their target price on Boyd Gaming from $74.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. StockNews.com downgraded Boyd Gaming from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 27th. Argus raised Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 target price for the company in a research report on Tuesday, December 17th. Finally, Jefferies Financial Group raised Boyd Gaming from a "hold" rating to a "buy" rating and upped their target price for the stock from $73.00 to $92.00 in a research report on Friday, January 3rd. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $95.20.

Insider Transactions at Boyd Gaming

In related news, Director Christine J. Spadafor sold 1,125 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $75.28, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total value of $3,884,000.00. Following the completion of the sale, the chairman now owns 1,346,628 shares in the company, valued at approximately $104,606,063.04. This represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,125 shares of company stock worth $5,158,490. 27.94% of the stock is currently owned by company insiders.

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.