Victory Capital Management Inc. Increases Stock Position in Boyd Gaming Co. (NYSE:BYD)

Victory Capital Management Inc. grew its holdings in Boyd Gaming Co. (NYSE:BYD - Free Report) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 925,884 shares of the company's stock after acquiring an additional 16,979 shares during the period. Victory Capital Management Inc. owned about 1.05% of Boyd Gaming worth $67,164,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Keybank National Association OH boosted its holdings in shares of Boyd Gaming by 2.6% in the 4th quarter. Keybank National Association OH now owns 14,039 shares of the company's stock valued at $1,018,000 after acquiring an additional 362 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Boyd Gaming by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 974,973 shares of the company's stock valued at $70,725,000 after acquiring an additional 3,052 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Boyd Gaming by 952.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,969 shares of the company's stock valued at $142,000 after acquiring an additional 1,782 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Boyd Gaming by 13.6% in the 4th quarter. US Bancorp DE now owns 2,943 shares of the company's stock valued at $213,000 after acquiring an additional 353 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Boyd Gaming in the 4th quarter valued at $3,847,000. 76.81% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In related news, Director William R. Boyd sold 15,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the completion of the sale, the director now directly owns 1,472,970 shares in the company, valued at approximately $116,835,980.40. This trade represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christine J. Spadafor sold 660 shares of the firm's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $75.68, for a total transaction of $49,948.80. Following the sale, the director now owns 5,977 shares of the company's stock, valued at approximately $452,339.36. The trade was a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,785 shares of company stock worth $5,208,439 over the last three months. Insiders own 27.94% of the company's stock.

Wall Street Analyst Weigh In

BYD has been the topic of a number of recent analyst reports. Argus raised shares of Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 price target on the stock in a report on Tuesday, December 17th. JPMorgan Chase & Co. increased their price target on shares of Boyd Gaming from $74.00 to $80.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Morgan Stanley downgraded shares of Boyd Gaming from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $82.00 to $81.00 in a report on Monday, February 24th. Mizuho increased their price target on shares of Boyd Gaming from $79.00 to $86.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Finally, JMP Securities reissued a "market perform" rating on shares of Boyd Gaming in a report on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $95.20.

Boyd Gaming Price Performance

Shares of NYSE BYD traded down $2.68 during mid-day trading on Monday, reaching $66.35. The company's stock had a trading volume of 1,319,513 shares, compared to its average volume of 957,263. The stock has a 50-day moving average of $75.07 and a two-hundred day moving average of $70.27. The stock has a market capitalization of $5.56 billion, a P/E ratio of 10.67, a P/E/G ratio of 4.46 and a beta of 1.55. 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 1-year low of $49.34 and a 1-year high of $80.50.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $1.96 EPS 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, equities research analysts anticipate that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming announced that its board has initiated a stock buyback program on Thursday, December 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Boyd Gaming Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.09%. This is a boost from Boyd Gaming's previous quarterly dividend of $0.17. The ex-dividend date is Monday, March 17th. Boyd Gaming's dividend payout ratio is 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.