State Street Corp Has $136.68 Million Holdings in Boyd Gaming Co. (NYSE:BYD)

State Street Corp lifted its holdings in Boyd Gaming Co. (NYSE:BYD - Free Report) by 0.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,108,672 shares of the company's stock after buying an additional 17,591 shares during the quarter. State Street Corp owned about 2.39% of Boyd Gaming worth $136,680,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new position in shares of Boyd Gaming in the second quarter worth about $29,000. Covestor Ltd raised its position in Boyd Gaming by 54.9% in the 3rd quarter. Covestor Ltd now owns 587 shares of the company's stock worth $38,000 after purchasing an additional 208 shares during the last quarter. Blue Trust Inc. lifted its holdings in Boyd Gaming by 58.2% during the 2nd quarter. Blue Trust Inc. now owns 783 shares of the company's stock worth $43,000 after buying an additional 288 shares in the last quarter. Quarry LP lifted its holdings in Boyd Gaming by 150.1% during the 3rd quarter. Quarry LP now owns 873 shares of the company's stock worth $56,000 after buying an additional 524 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Boyd Gaming by 921.8% in 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 last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Truist Financial boosted their target price on Boyd Gaming from $75.00 to $77.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Mizuho restated an "outperform" rating and set a $79.00 target price (up from $78.00) on shares of Boyd Gaming in a research report on Friday, October 25th. Stifel Nicolaus lifted their price target on shares of Boyd Gaming from $67.00 to $74.00 and gave the stock a "hold" rating in a research report on Friday, October 25th. Barclays boosted their price target on shares of Boyd Gaming from $70.00 to $71.00 and gave the stock an "equal weight" rating in a research note on Friday, October 25th. Finally, Bank of America raised their price objective 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. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $91.77.

Insider Activity at Boyd Gaming

In other news, CEO Keith Smith sold 40,000 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $73.49, for a total transaction of $2,939,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,161,202 shares of the company's stock, valued at $85,336,734.98. This represents a 3.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Josh Hirsberg sold 21,549 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $71.43, for a total value of $1,539,245.07. Following the transaction, the chief financial officer now owns 438,615 shares of the company's stock, valued at approximately $31,330,269.45. The trade was a 4.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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.

Boyd Gaming Trading Up 0.7 %

Boyd Gaming stock traded up $0.51 during mid-day trading on Friday, hitting $74.95. 508,034 shares of the company's stock were exchanged, compared to its average volume of 903,482. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $76.73. 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 market capitalization of $6.62 billion, a P/E ratio of 14.30, a PEG ratio of 9.93 and a beta of 1.54. The company's 50 day simple moving average is $70.30 and its 200-day simple moving average is $62.21.

Boyd Gaming Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 0.91%. The ex-dividend date is Monday, December 16th. Boyd Gaming's dividend payout ratio (DPR) is presently 12.98%.

Boyd Gaming announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 7.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

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.