3,100 Shares in Boyd Gaming Co. (NYSE:BYD) Purchased by GWN Securities Inc.

GWN Securities Inc. acquired a new position in shares of Boyd Gaming Co. (NYSE:BYD) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,100 shares of the company’s stock, valued at approximately $234,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in Boyd Gaming by 1.0% during the 4th quarter. Rhumbline Advisers now owns 185,714 shares of the company’s stock worth $13,472,000 after purchasing an additional 1,797 shares in the last quarter. Sanctuary Advisors LLC increased its position in Boyd Gaming by 25.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 47,369 shares of the company’s stock worth $3,062,000 after purchasing an additional 9,565 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Boyd Gaming by 226.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 202,824 shares of the company’s stock worth $14,569,000 after purchasing an additional 140,707 shares in the last quarter. Weiss Asset Management LP purchased a new stake in Boyd Gaming during the 3rd quarter worth about $7,101,000. Finally, AlphaQuest LLC increased its position in Boyd Gaming by 347.2% during the 4th quarter. AlphaQuest LLC now owns 12,588 shares of the company’s stock worth $913,000 after purchasing an additional 9,773 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Insider Activity

In related news, Chairman Marianne Boyd Johnson sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the completion of the transaction, the chairman now owns 1,346,628 shares in the company, valued at $104,606,063.04. The trade was a 3.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christine J. Spadafor sold 1,125 shares of the business’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 of the company’s stock, valued at $365,258.56. This represents a 18.82 % decrease in their position. 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 analysts have issued reports on BYD shares. Susquehanna raised Boyd Gaming from a “neutral” rating to a “positive” rating and decreased their price target for the stock from $79.00 to $77.00 in a research note on Wednesday, March 12th. Truist Financial raised their price target on Boyd Gaming from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Barclays raised their price target on Boyd Gaming from $74.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Jefferies Financial Group raised Boyd Gaming from a “hold” rating to a “buy” rating and raised their price target for the stock from $73.00 to $92.00 in a research note on Friday, January 3rd. Finally, Morgan Stanley lowered Boyd Gaming from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $82.00 to $81.00 in a research note on Monday, February 24th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Boyd Gaming presently has an average rating of “Moderate Buy” and a consensus target price of $95.20.

Boyd Gaming Price Performance

BYD stock opened at $69.33 on Tuesday. 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 Co. has a 52-week low of $49.34 and a 52-week high of $80.50. The stock’s 50 day moving average is $74.56 and its two-hundred day moving average is $70.54. The company has a market capitalization of $5.81 billion, a PE ratio of 11.15, a P/E/G ratio of 4.46 and a beta of 1.55.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. Analysts predict that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming declared that its board has initiated a share buyback plan on Thursday, December 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Boyd Gaming Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.04%. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Monday, March 17th. Boyd Gaming’s 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.