Boyd Gaming Co. (NYSE:BYD) Shares Purchased by Mitsubishi UFJ Asset Management UK Ltd.

Mitsubishi UFJ Asset Management UK Ltd. boosted its position in shares of Boyd Gaming Co. (NYSE:BYD) by 900.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,000 shares of the company’s stock after buying an additional 9,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Boyd Gaming were worth $725,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BYD. Ariel Investments LLC raised its position in shares of Boyd Gaming by 12.5% during the 2nd quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock worth $167,046,000 after purchasing an additional 335,984 shares during the last quarter. State Street Corp lifted its position in Boyd Gaming by 0.8% in the 3rd quarter. State Street Corp now owns 2,108,672 shares of the company’s stock valued at $136,680,000 after purchasing an additional 17,591 shares during the last quarter. Geode Capital Management LLC increased its stake in Boyd Gaming by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,153,768 shares of the company’s stock valued at $74,611,000 after buying an additional 33,379 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Boyd Gaming by 5.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 971,921 shares of the company’s stock valued at $62,835,000 after acquiring an additional 54,128 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Boyd Gaming by 6,158.8% in the third quarter. Victory Capital Management Inc. now owns 908,905 shares of the company’s stock worth $58,761,000 after buying an additional 894,383 shares during the period. 76.81% of the stock is owned by institutional investors and hedge funds.

Boyd Gaming Trading Up 1.6 %

Shares of BYD stock opened at $76.11 on Wednesday. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 4.17 and a beta of 1.54. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. The stock’s 50-day moving average price is $73.06 and its 200-day moving average price is $65.87. Boyd Gaming Co. has a 12-month low of $49.34 and a 12-month high of $76.73.

Boyd Gaming announced that its Board of Directors has initiated a share repurchase program on Thursday, December 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 7.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Boyd Gaming Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Monday, December 16th. Boyd Gaming’s dividend payout ratio (DPR) is 12.98%.

Insider Activity at Boyd Gaming

In other news, CFO Josh Hirsberg sold 21,549 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $71.43, for a total value of $1,539,245.07. Following the sale, the chief financial officer now directly owns 438,615 shares in the company, valued at $31,330,269.45. This represents a 4.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William R. Boyd sold 25,155 shares of Boyd Gaming stock in a transaction on 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 completion of the sale, the director now directly owns 1,487,970 shares of the company’s stock, valued at approximately $103,190,719.50. This represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,364 shares of company stock valued at $10,590,893 in the last ninety days. Corporate insiders own 28.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on BYD shares. Mizuho reissued an “outperform” rating and set a $79.00 target price (up from $78.00) on shares of Boyd Gaming in a research report on Friday, October 25th. StockNews.com raised shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Stifel Nicolaus increased their price target on Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Morgan Stanley boosted their price objective 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. Finally, Truist Financial upped their price target on Boyd Gaming from $77.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boyd Gaming currently has an average rating of “Moderate Buy” and an average price target of $92.20.

Boyd Gaming Company 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.