Quantinno Capital Management LP Has $6.90 Million Position in Boyd Gaming Co. (NYSE:BYD)

Quantinno Capital Management LP increased its position in shares of Boyd Gaming Co. (NYSE:BYD) by 53.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 106,651 shares of the company’s stock after purchasing an additional 37,059 shares during the period. Quantinno Capital Management LP owned approximately 0.12% of Boyd Gaming worth $6,895,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BYD. SG Americas Securities LLC acquired a new position in Boyd Gaming in the 2nd quarter valued at $730,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Boyd Gaming by 36.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,514 shares of the company’s stock worth $249,000 after buying an additional 1,209 shares in the last quarter. AlphaMark Advisors LLC raised its holdings in shares of Boyd Gaming by 2.6% during the 2nd quarter. AlphaMark Advisors LLC now owns 8,063 shares of the company’s stock worth $444,000 after buying an additional 205 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Boyd Gaming by 58.2% during the 2nd quarter. Blue Trust Inc. now owns 783 shares of the company’s stock worth $43,000 after buying an additional 288 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Boyd Gaming by 15.6% during the 2nd quarter. Fifth Third Bancorp now owns 4,199 shares of the company’s stock worth $231,000 after buying an additional 566 shares in the last quarter. 76.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BYD shares. Wells Fargo & Company boosted their price objective on Boyd Gaming from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Barclays boosted their price objective on Boyd Gaming from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Morgan Stanley upped 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. JPMorgan Chase & Co. upped their price target on Boyd Gaming from $68.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, Truist Financial upped their price target on Boyd Gaming from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.38.

Insider Buying and Selling

In other news, Director William R. Boyd sold 25,155 shares of the 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 completion of the sale, the director now directly owns 1,487,970 shares of the company’s stock, valued at $103,190,719.50. This represents a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Keith Smith sold 30,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $72.15, for a total value of $2,164,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,101,202 shares of the company’s stock, valued at approximately $79,451,724.30. This trade represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,704 shares of company stock valued at $10,540,944. 27.94% of the stock is owned by company insiders.

Boyd Gaming Stock Up 1.0 %

Shares of Boyd Gaming stock opened at $75.55 on Friday. Boyd Gaming Co. has a one year low of $49.34 and a one 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. The stock’s 50-day moving average is $69.23 and its 200 day moving average is $61.35. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 9.71 and a beta of 1.54.

Boyd Gaming Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Monday, December 16th. Boyd Gaming’s dividend payout ratio (DPR) is currently 12.98%.

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

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.