Sequoia Financial Advisors LLC purchased a new position 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 Securities and Exchange Commission (SEC). The firm purchased 83,626 shares of the company's stock, valued at approximately $6,066,000. Sequoia Financial Advisors LLC owned approximately 0.09% of Boyd Gaming as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Boyd Gaming by 47.4% in 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 period. UMB Bank n.a. increased its holdings in shares of Boyd Gaming by 80.3% in the fourth quarter. UMB Bank n.a. now owns 393 shares of the company's stock valued at $29,000 after purchasing an additional 175 shares during the period. Cetera Trust Company N.A raised its stake in shares of Boyd Gaming by 6.2% in the fourth quarter. Cetera Trust Company N.A now owns 3,535 shares of the company's stock worth $256,000 after purchasing an additional 205 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Boyd Gaming by 54.9% during the third quarter. Covestor Ltd now owns 587 shares of the company's stock worth $38,000 after purchasing an additional 208 shares during the period. Finally, KBC Group NV boosted its position in Boyd Gaming by 0.9% in the third quarter. KBC Group NV now owns 25,407 shares of the company's stock valued at $1,643,000 after buying an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 76.81% of the company's stock.
Insiders Place Their Bets
In related news, Director Christine J. Spadafor sold 1,125 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $75.28, for a total transaction of $84,690.00. Following the transaction, the director now directly owns 4,852 shares in the company, valued at approximately $365,258.56. The trade was a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $3,884,000.00. Following the sale, the chairman now directly owns 1,346,628 shares of the company's stock, valued at approximately $104,606,063.04. This represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 66,125 shares of company stock worth $5,158,490. Corporate insiders own 27.94% of the company's stock.
Boyd Gaming Price Performance
Shares of BYD stock traded up $1.02 during trading hours on Monday, hitting $69.33. 1,315,783 shares of the company's stock were exchanged, compared to its average volume of 928,797. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $80.50. The firm has a market cap of $5.81 billion, a P/E ratio of 11.15, a P/E/G ratio of 4.46 and a beta of 1.55. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The firm has a 50 day moving average of $74.64 and a two-hundred day moving average of $70.48.
Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings data 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 net margin of 14.70% and a return on equity of 35.97%. Sell-side analysts forecast that Boyd Gaming Co. will post 6.52 EPS for the current year.
Boyd Gaming announced that its board has initiated a share repurchase plan on Thursday, December 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.
Boyd Gaming Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.04%. 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 payout ratio is presently 11.58%.
Analyst Ratings Changes
A number of research firms have issued reports on BYD. Argus raised shares of Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 price target for the company in a research report on Tuesday, December 17th. Truist Financial boosted their target price on shares of Boyd Gaming from $85.00 to $88.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. JMP Securities reaffirmed a "market perform" rating on shares of Boyd Gaming in a research report on Friday, February 7th. Mizuho boosted their price objective on Boyd Gaming from $79.00 to $86.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, Morgan Stanley downgraded Boyd Gaming from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $82.00 to $81.00 in a research note on Monday, February 24th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $95.20.
Get Our Latest Analysis on BYD
About Boyd Gaming
(
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.
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