GAMMA Investing LLC Has $33,000 Position in Boyd Gaming Co. (NYSE:BYD)

GAMMA Investing LLC boosted its holdings in shares of Boyd Gaming Co. (NYSE:BYD) by 47.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 460 shares of the company’s stock after buying an additional 148 shares during the period. GAMMA Investing LLC’s holdings in Boyd Gaming were worth $33,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new position in Boyd Gaming during the 2nd quarter valued at about $29,000. Covestor Ltd raised its stake in shares of Boyd Gaming by 54.9% in the third quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after purchasing an additional 208 shares during the last quarter. Quarry LP lifted its holdings in shares of Boyd Gaming by 150.1% in the third quarter. Quarry LP now owns 873 shares of the company’s stock valued at $56,000 after purchasing an additional 524 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Boyd Gaming by 921.8% during the third quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock valued at $57,000 after buying an additional 802 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Boyd Gaming by 85.3% during the third quarter. Venturi Wealth Management LLC now owns 943 shares of the company’s stock worth $61,000 after buying an additional 434 shares in the last quarter. 76.81% of the stock is owned by institutional investors.

Boyd Gaming Price Performance

Boyd Gaming stock opened at $72.60 on Wednesday. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 9.93 and a beta of 1.54. The firm has a 50-day moving average of $72.83 and a two-hundred day moving average of $65.02. Boyd Gaming Co. has a 1 year low of $49.34 and a 1 year high of $76.73. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79.

Boyd Gaming Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a dividend of $0.17 per share. The ex-dividend date is Monday, December 16th. This represents a $0.68 dividend on an annualized basis and a yield of 0.94%. Boyd Gaming’s payout ratio is 12.98%.

Boyd Gaming announced that its Board of Directors has initiated a share repurchase plan on Thursday, December 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have commented on BYD shares. Stifel Nicolaus increased their price objective on shares of Boyd Gaming from $67.00 to $74.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Morgan Stanley increased their price target on Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Bank of America boosted their price objective on Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Barclays raised their target price on Boyd Gaming from $70.00 to $71.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and boosted their price target for the stock from $73.00 to $92.00 in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boyd Gaming currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.20.

Insider Buying and Selling at Boyd Gaming

In other news, CEO Keith Smith sold 40,000 shares of the stock in a transaction that occurred on 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 $85,336,734.98. This trade represents a 3.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William R. Boyd sold 25,155 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $69.35, for a total value of $1,744,499.25. Following the sale, the director now owns 1,487,970 shares of the company’s stock, valued at $103,190,719.50. The trade was a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,364 shares of company stock worth $10,590,893 over the last three months. Corporate insiders own 27.94% of the company’s stock.

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.