Quadrature Capital Ltd Buys 33,374 Shares of Boyd Gaming Co. (NYSE:BYD)

Quadrature Capital Ltd raised its position in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 201.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,951 shares of the company's stock after purchasing an additional 33,374 shares during the quarter. Quadrature Capital Ltd owned 0.06% of Boyd Gaming worth $3,229,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Quantinno Capital Management LP raised its stake in Boyd Gaming by 53.3% during the 3rd quarter. Quantinno Capital Management LP now owns 106,651 shares of the company's stock valued at $6,895,000 after purchasing an additional 37,059 shares during the period. Quarry LP raised its stake in 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 purchasing an additional 524 shares during the period. Petrus Trust Company LTA acquired a new stake in Boyd Gaming during the 3rd quarter valued at $762,000. Centiva Capital LP raised its stake in Boyd Gaming by 62.1% during the 3rd quarter. Centiva Capital LP now owns 27,688 shares of the company's stock valued at $1,790,000 after purchasing an additional 10,608 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in Boyd Gaming during the 3rd quarter valued at $315,000. 76.81% of the stock is owned by institutional investors and hedge funds.

Boyd Gaming Stock Up 1.0 %

Boyd Gaming stock traded up $0.72 during mid-day trading on Friday, hitting $75.55. 528,145 shares of the company's stock were exchanged, compared to its average volume of 910,332. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. The stock has a market cap of $6.68 billion, a P/E ratio of 14.38, a P/E/G ratio of 9.71 and a beta of 1.54. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $76.73. The stock has a 50 day moving average of $69.03 and a two-hundred day moving average of $61.21.

Boyd Gaming announced that its board has authorized a stock buyback plan on Thursday, December 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Boyd Gaming Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Monday, December 16th. Boyd Gaming's dividend payout ratio (DPR) is 12.98%.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, CEO Keith Smith sold 30,000 shares of the company's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $72.15, for a total transaction of $2,164,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,101,202 shares in the company, valued at $79,451,724.30. This represents a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William R. Boyd sold 25,155 shares of the company's stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $69.35, for a total transaction of $1,744,499.25. Following the sale, the director now owns 1,487,970 shares of the company's stock, valued at $103,190,719.50. This trade represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,704 shares of company stock worth $10,540,944 over the last ninety days. Company insiders own 27.94% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BYD. Truist Financial upped their price target on shares of Boyd Gaming from $75.00 to $77.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price target on shares of Boyd Gaming from $68.00 to $69.00 and gave the stock a "neutral" rating in a research note on Friday, October 25th. Bank of America upped their price target on shares of Boyd Gaming from $68.00 to $72.00 and gave the stock a "buy" rating in a research note on Tuesday, September 17th. StockNews.com raised shares of Boyd Gaming from a "buy" rating to a "strong-buy" rating in a research note on Monday, October 28th. Finally, Stifel Nicolaus upped their price target on shares of Boyd Gaming from $67.00 to $74.00 and gave the stock a "hold" rating in a research note on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Boyd Gaming currently has a consensus rating of "Moderate Buy" and an average 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.