Summit Investment Advisors Inc. Buys 4,558 Shares of Boyd Gaming Co. (NYSE:BYD)

Summit Investment Advisors Inc. raised its holdings in Boyd Gaming Co. (NYSE:BYD - Free Report) by 12.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,678 shares of the company's stock after acquiring an additional 4,558 shares during the period. Summit Investment Advisors Inc.'s holdings in Boyd Gaming were worth $2,951,000 at the end of the most recent quarter.

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

Insider Transactions at Boyd Gaming

In other news, Director Christine J. Spadafor sold 1,125 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $75.28, for a total value of $84,690.00. Following the transaction, the director now owns 4,852 shares in the company, valued at approximately $365,258.56. This trade represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the company's stock in a transaction on 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 owns 1,346,628 shares of the company's stock, valued at $104,606,063.04. This represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,125 shares of company stock worth $5,158,490. 27.94% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BYD. Morgan Stanley cut their price target on Boyd Gaming from $75.00 to $72.00 and set an "equal weight" rating for the company in a research note on Wednesday. JMP Securities reiterated a "market perform" rating on shares of Boyd Gaming in a report on Friday, February 7th. JPMorgan Chase & Co. raised their price objective on Boyd Gaming from $74.00 to $80.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. StockNews.com lowered shares of Boyd Gaming from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 27th. Finally, Jefferies Financial Group raised shares of Boyd Gaming from a "hold" rating to a "buy" rating and upped their price objective for the stock from $73.00 to $92.00 in a research report on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Boyd Gaming presently has an average rating of "Moderate Buy" and a consensus price target of $94.27.

Boyd Gaming Price Performance

Boyd Gaming stock traded down $0.17 during midday trading on Friday, reaching $64.65. 661,029 shares of the stock were exchanged, compared to its average volume of 977,664. The company's fifty day moving average is $69.84 and its 200-day moving average is $71.02. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. Boyd Gaming Co. has a 52 week low of $49.34 and a 52 week high of $80.50. The firm has a market cap of $5.33 billion, a PE ratio of 10.39, a PEG ratio of 4.46 and a beta of 1.31.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $1.96 earnings per share for the quarter, beating 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, sell-side analysts forecast that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were given a dividend of $0.18 per share. This is a boost from Boyd Gaming's previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Monday, March 17th. Boyd Gaming's dividend payout ratio (DPR) is presently 11.58%.

About Boyd Gaming

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.