Victory Capital Management Inc. Purchases 894,383 Shares of Boyd Gaming Co. (NYSE:BYD)

Victory Capital Management Inc. grew its stake in Boyd Gaming Co. (NYSE:BYD - Free Report) by 6,158.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 908,905 shares of the company's stock after acquiring an additional 894,383 shares during the period. Victory Capital Management Inc. owned 0.99% of Boyd Gaming worth $58,761,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BYD. Allspring Global Investments Holdings LLC raised its holdings in shares of Boyd Gaming by 57.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company's stock worth $35,000 after buying an additional 189 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in Boyd Gaming during the second quarter valued at $29,000. Covestor Ltd grew its position in Boyd Gaming by 54.9% during the third quarter. Covestor Ltd now owns 587 shares of the company's stock valued at $38,000 after buying an additional 208 shares during the period. Blue Trust Inc. grew its position in shares of Boyd Gaming by 58.2% in the second quarter. Blue Trust Inc. now owns 783 shares of the company's stock valued at $43,000 after purchasing an additional 288 shares during the period. Finally, Farther Finance Advisors LLC grew its position in shares of Boyd Gaming by 921.8% in the third quarter. Farther Finance Advisors LLC now owns 889 shares of the company's stock valued at $57,000 after purchasing an additional 802 shares during the period. 76.81% of the stock is currently owned by institutional investors.

Boyd Gaming Stock Performance

Shares of BYD stock traded down $1.24 during trading hours on Friday, reaching $71.77. 374,527 shares of the company's stock were exchanged, compared to its average volume of 921,927. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $74.78. The stock has a market capitalization of $6.34 billion, a P/E ratio of 13.93, a P/E/G ratio of 9.60 and a beta of 1.55. The business has a fifty day moving average price of $65.74 and a 200-day moving average price of $59.26. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Sunday, September 15th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.95%. Boyd Gaming's payout ratio is presently 12.98%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Boyd Gaming from $75.00 to $79.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Morgan Stanley upped their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. StockNews.com raised shares of Boyd Gaming from a "buy" rating to a "strong-buy" rating in a research note on Monday, October 28th. 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 report on Friday, October 25th. Finally, Mizuho restated an "outperform" rating and issued a $79.00 target price (up previously from $78.00) on shares of Boyd Gaming in a report on Friday, October 25th. Seven equities research 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.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $91.38.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, CEO Keith Smith sold 40,000 shares of the firm'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 transaction, the chief executive officer now owns 1,161,202 shares in the company, valued at approximately $85,336,734.98. This trade represents a 3.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Boyd sold 25,155 shares of Boyd Gaming stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $69.35, for a total value of $1,744,499.25. Following the transaction, the director now owns 1,487,970 shares in the company, valued at $103,190,719.50. This trade represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 161,076 shares of company stock valued at $10,702,931. 27.94% of the stock is currently owned by company insiders.

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.