Boyd Gaming Co. (NYSE:BYD) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers lifted its holdings in Boyd Gaming Co. (NYSE:BYD) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,714 shares of the company’s stock after purchasing an additional 1,797 shares during the quarter. Rhumbline Advisers owned about 0.21% of Boyd Gaming worth $13,472,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BYD. GAMMA Investing LLC lifted its position in Boyd Gaming by 47.4% during the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock worth $33,000 after acquiring an additional 148 shares during the period. UMB Bank n.a. lifted its position in Boyd Gaming by 80.3% during the 4th quarter. UMB Bank n.a. now owns 393 shares of the company’s stock worth $29,000 after acquiring an additional 175 shares during the period. Cetera Trust Company N.A lifted its position in Boyd Gaming by 6.2% during the 4th quarter. Cetera Trust Company N.A now owns 3,535 shares of the company’s stock worth $256,000 after acquiring an additional 205 shares during the period. Covestor Ltd lifted its position in Boyd Gaming by 54.9% during the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after acquiring an additional 208 shares during the period. Finally, KBC Group NV lifted its position in Boyd Gaming by 0.9% during the 3rd quarter. KBC Group NV now owns 25,407 shares of the company’s stock worth $1,643,000 after acquiring an additional 232 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

Boyd Gaming Trading Down 3.2 %

Shares of NYSE:BYD opened at $76.86 on Friday. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 4.46 and a beta of 1.54. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $80.50. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The company has a 50 day moving average price of $74.77 and a 200 day moving average price of $68.94.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.96 EPS for the quarter, beating the consensus estimate 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, 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 repurchase program on Thursday, December 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are generally 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. Shareholders of record on Monday, March 17th will be given a $0.18 dividend. 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. This represents a $0.72 dividend on an annualized basis and a yield of 0.94%. Boyd Gaming’s dividend payout ratio is presently 10.93%.

Insiders Place Their Bets

In other news, Director William R. Boyd sold 15,000 shares of the firm’s stock in a transaction 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 owns 1,472,970 shares in the company, valued at approximately $116,835,980.40. This trade represents a 1.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the transaction, the chairman now owns 1,346,628 shares in the company, valued at $104,606,063.04. This represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,660 shares of company stock worth $5,123,749 in the last quarter. 27.94% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BYD has been the subject of a number of recent research reports. Barclays lifted their price objective on Boyd Gaming from $74.00 to $78.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Jefferies Financial Group upgraded Boyd Gaming from a “hold” rating to a “buy” rating and lifted their price objective for the company from $73.00 to $92.00 in a research note on Friday, January 3rd. Truist Financial lifted their price objective on Boyd Gaming from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. StockNews.com upgraded Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Susquehanna lifted their price objective on Boyd Gaming from $69.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Seven research 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $95.00.

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.