Quantinno Capital Management LP Purchases 37,059 Shares of Boyd Gaming Co. (NYSE:BYD)

Quantinno Capital Management LP increased its position in Boyd Gaming Co. (NYSE:BYD - Free Report) by 53.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 106,651 shares of the company's stock after acquiring an additional 37,059 shares during the period. Quantinno Capital Management LP owned approximately 0.12% of Boyd Gaming worth $6,895,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BYD. Altshuler Shaham Ltd acquired a new stake in shares of Boyd Gaming in the 2nd quarter worth about $29,000. Covestor Ltd increased its holdings in shares of Boyd Gaming by 54.9% in the 3rd quarter. Covestor Ltd now owns 587 shares of the company's stock worth $38,000 after acquiring an additional 208 shares during the period. Blue Trust Inc. increased its holdings in shares of Boyd Gaming by 58.2% in the 2nd quarter. Blue Trust Inc. now owns 783 shares of the company's stock worth $43,000 after acquiring an additional 288 shares during the period. Quarry LP increased 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 buying an additional 524 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in 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 buying an additional 802 shares during the period. Institutional investors and hedge funds own 76.81% of the company's stock.

Insider Buying and Selling

In related news, Director William R. Boyd sold 25,155 shares of the firm's stock in a transaction that occurred on 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 transaction, the director now owns 1,487,970 shares of the company's stock, valued at approximately $103,190,719.50. This trade represents a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Josh Hirsberg sold 21,549 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $71.43, for a total transaction of $1,539,245.07. Following the transaction, the chief financial officer now directly owns 438,615 shares in the company, valued at approximately $31,330,269.45. The trade was a 4.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,704 shares of company stock worth $10,540,944. 27.94% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on BYD. Stifel Nicolaus raised their target price on shares of Boyd Gaming from $67.00 to $74.00 and gave the company a "hold" rating in a research note on Friday, October 25th. Barclays raised their target price on shares of Boyd Gaming from $70.00 to $71.00 and gave the company an "equal weight" rating in a research note on Friday, October 25th. Mizuho reissued an "outperform" rating and set a $79.00 target price (up previously from $78.00) on shares of Boyd Gaming in a research note on Friday, October 25th. Bank of America raised their target price on shares of Boyd Gaming from $68.00 to $72.00 and gave the company a "buy" rating in a research note on Tuesday, September 17th. Finally, Morgan Stanley raised their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Boyd Gaming presently has a consensus rating of "Moderate Buy" and an average target price of $91.38.

Boyd Gaming Stock Up 1.0 %

Shares of BYD stock traded up $0.72 during trading on Friday, hitting $75.55. 528,145 shares of the company were exchanged, compared to its average volume of 724,811. 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 firm has a market capitalization of $6.68 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 9.80 and a beta of 1.54. The business's 50-day simple moving average is $69.23 and its 200 day simple moving average is $61.35. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $76.73.

Boyd Gaming declared that its board has approved a share buyback plan on Thursday, December 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Boyd Gaming Announces Dividend

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

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.