Proficio Capital Partners LLC purchased a new position in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 53,027 shares of the company's stock, valued at approximately $3,847,000. Proficio Capital Partners LLC owned approximately 0.06% of Boyd Gaming at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. lifted its position in shares of Boyd Gaming by 80.3% during the 4th quarter. UMB Bank n.a. now owns 393 shares of the company's stock valued at $29,000 after acquiring an additional 175 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of 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 during the last quarter. Covestor Ltd lifted its position in shares of Boyd Gaming by 54.9% during the 3rd quarter. Covestor Ltd now owns 587 shares of the company's stock valued at $38,000 after acquiring an additional 208 shares during the last quarter. Quarry LP lifted its position in shares of Boyd Gaming by 150.1% during 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. Finally, Farther Finance Advisors LLC lifted its position in shares of Boyd Gaming by 921.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 889 shares of the company's stock valued at $57,000 after acquiring an additional 802 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
BYD has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on Boyd Gaming from $74.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. Barclays boosted their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Jefferies Financial Group raised shares of Boyd Gaming from a "hold" rating to a "buy" rating and boosted their target price for the company from $73.00 to $92.00 in a research note on Friday, January 3rd. StockNews.com downgraded shares of Boyd Gaming from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 27th. Finally, Mizuho boosted their target price on shares of Boyd Gaming from $79.00 to $86.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $95.20.
View Our Latest Analysis on Boyd Gaming
Boyd Gaming Stock Down 4.0 %
NYSE:BYD traded down $2.86 during trading hours on Friday, reaching $68.95. The company's stock had a trading volume of 1,826,938 shares, compared to its average volume of 949,030. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 4.46 and a beta of 1.55. Boyd Gaming Co. has a one year low of $49.34 and a one year high of $80.50. The business's 50-day moving average is $75.25 and its 200-day moving average is $69.99. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79.
Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings results 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 research analysts predict that Boyd Gaming Co. will post 6.52 EPS for the current year.
Boyd Gaming Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Boyd Gaming's previous quarterly dividend of $0.17. Boyd Gaming's dividend payout ratio is 11.58%.
Boyd Gaming announced that its board has authorized a stock buyback program on Thursday, December 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 7.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.
Insider Buying and Selling
In other news, 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 transaction of $3,884,000.00. Following the completion of the sale, the chairman now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $84,690.00. Following the sale, the director now directly owns 4,852 shares of the company's stock, valued at approximately $365,258.56. The trade was a 18.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,785 shares of company stock valued at $5,208,439 over the last quarter. Corporate insiders own 27.94% of the company's stock.
Boyd Gaming Profile
(
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.
Featured Articles
Before you consider Boyd Gaming, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Boyd Gaming wasn't on the list.
While Boyd Gaming currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
