Raymond James Financial Inc. Buys New Shares in Boyd Gaming Co. (NYSE:BYD)

Raymond James Financial Inc. purchased a new stake in Boyd Gaming Co. (NYSE:BYD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 596,546 shares of the company's stock, valued at approximately $43,273,000. Raymond James Financial Inc. owned 0.67% of Boyd Gaming as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. UMB Bank n.a. grew its stake in Boyd Gaming by 80.3% during the 4th quarter. UMB Bank n.a. now owns 393 shares of the company's stock worth $29,000 after purchasing an additional 175 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Boyd Gaming by 47.4% during the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company's stock worth $33,000 after buying an additional 148 shares during the period. Golden State Wealth Management LLC purchased a new position in Boyd Gaming in the fourth quarter worth approximately $67,000. Wilmington Savings Fund Society FSB acquired a new position in Boyd Gaming during the 3rd quarter worth approximately $64,000. Finally, Allworth Financial LP increased its position in shares of Boyd Gaming by 2,735.1% in the 4th quarter. Allworth Financial LP now owns 1,049 shares of the company's stock valued at $79,000 after purchasing an additional 1,012 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.

Boyd Gaming Price Performance

Shares of NYSE:BYD traded down $0.47 during midday trading on Monday, hitting $64.21. 46,413 shares of the stock were exchanged, compared to its average volume of 974,825. The stock has a market cap of $5.30 billion, a P/E ratio of 10.33, a PEG ratio of 4.46 and a beta of 1.31. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $80.50. The company has a 50 day moving average price of $69.58 and a 200-day moving average price of $71.12. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. On average, research analysts forecast that Boyd Gaming Co. will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.72 dividend on an annualized basis and a yield of 1.12%. This is a positive change from Boyd Gaming's previous quarterly dividend of $0.17. Boyd Gaming's dividend payout ratio is presently 11.58%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BYD. Truist Financial decreased their price objective on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Barclays lifted 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. Wells Fargo & Company upped their price target on shares of Boyd Gaming from $82.00 to $88.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Jefferies Financial Group raised Boyd Gaming from a "hold" rating to a "buy" rating and increased their price objective for the stock from $73.00 to $92.00 in a research report on Friday, January 3rd. Finally, Stifel Nicolaus lifted their target price on shares of Boyd Gaming from $74.00 to $82.00 and gave the company a "hold" rating in a report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $94.27.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 50,000 shares of the company's stock in a transaction dated 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 transaction, the chairman now directly owns 1,346,628 shares in the company, valued at approximately $104,606,063.04. This represents a 3.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William R. Boyd sold 15,000 shares of Boyd Gaming stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the sale, the director now owns 1,472,970 shares of the company's stock, valued at approximately $116,835,980.40. This trade represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,125 shares of company stock worth $5,158,490. 27.94% of the stock is owned by insiders.

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.