AlphaQuest LLC Purchases 9,773 Shares of Boyd Gaming Co. (NYSE:BYD)

AlphaQuest LLC increased its position in Boyd Gaming Co. (NYSE:BYD) by 347.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 12,588 shares of the company’s stock after buying an additional 9,773 shares during the period. AlphaQuest LLC’s holdings in Boyd Gaming were worth $913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the company. Edgestream Partners L.P. raised its holdings in Boyd Gaming by 1,293.1% in the 4th quarter. Edgestream Partners L.P. now owns 67,900 shares of the company’s stock worth $4,925,000 after acquiring an additional 63,026 shares during the period. Raymond James Financial Inc. bought a new position in shares of Boyd Gaming during the 4th quarter worth about $43,273,000. Proficio Capital Partners LLC bought a new position in shares of Boyd Gaming during the 4th quarter worth about $3,847,000. M&T Bank Corp bought a new position in shares of Boyd Gaming during the 4th quarter worth about $226,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Boyd Gaming by 1.9% during the 4th quarter. Victory Capital Management Inc. now owns 925,884 shares of the company’s stock worth $67,164,000 after purchasing an additional 16,979 shares during the period. Institutional investors own 76.81% of the company’s stock.

Insider Transactions at Boyd Gaming

In other news, Director William R. Boyd sold 15,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 1,472,970 shares in the company, valued at approximately $116,835,980.40. This represents a 1.01 % 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 link. Also, Director Christine J. Spadafor sold 1,125 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $75.28, for a total transaction of $84,690.00. Following the transaction, the director now owns 4,852 shares in the company, valued at $365,258.56. The trade was a 18.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,785 shares of company stock worth $5,208,439. Corporate insiders own 27.94% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Morgan Stanley cut shares of Boyd Gaming from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $82.00 to $81.00 in a research note on Monday, February 24th. JPMorgan Chase & Co. upped their target price on shares of 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 cut shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th. Finally, Truist Financial upped their target price on shares of Boyd Gaming from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.20.

Boyd Gaming Price Performance

NYSE:BYD opened at $66.35 on Tuesday. The firm has a market cap of $5.56 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 4.46 and a beta of 1.55. Boyd Gaming Co. has a 12 month low of $49.34 and a 12 month high of $80.50. 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 company’s 50-day moving average price is $75.07 and its two-hundred day moving average price is $70.27.

Boyd Gaming (NYSE:BYD) last released its quarterly 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 analysts anticipate that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming declared that its Board of Directors has authorized a stock buyback plan on Thursday, December 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows 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 stock is undervalued.

Boyd Gaming Increases Dividend

The business 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 dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.09%. This is a positive change 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 presently 11.58%.

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.