Boyd Gaming Co. (NYSE:BYD) Shares Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC increased its position in shares of Boyd Gaming Co. (NYSE:BYD) by 25.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,369 shares of the company’s stock after acquiring an additional 9,565 shares during the quarter. Sanctuary Advisors LLC owned approximately 0.05% of Boyd Gaming worth $3,062,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BYD. Envestnet Portfolio Solutions Inc. boosted its position 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 valued at $249,000 after acquiring an additional 1,209 shares during the last quarter. Blue Trust Inc. lifted its position in Boyd Gaming by 58.2% in the second quarter. Blue Trust Inc. now owns 783 shares of the company’s stock valued at $43,000 after buying an additional 288 shares during the last quarter. Fifth Third Bancorp lifted its position in Boyd Gaming by 15.6% in the second quarter. Fifth Third Bancorp now owns 4,199 shares of the company’s stock valued at $231,000 after buying an additional 566 shares during the last quarter. Burney Co. lifted its position in Boyd Gaming by 7.4% in the second quarter. Burney Co. now owns 72,704 shares of the company’s stock valued at $4,006,000 after buying an additional 5,028 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Boyd Gaming by 13.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,911 shares of the company’s stock valued at $877,000 after buying an additional 1,933 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

Insider Activity

In related news, Director Christine J. Spadafor sold 660 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $75.68, for a total transaction of $49,948.80. Following the completion of the sale, the director now directly owns 5,977 shares of the company’s stock, valued at $452,339.36. This trade represents a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Keith Smith sold 40,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $73.49, for a total value of $2,939,600.00. Following the completion of the sale, the chief executive officer now directly owns 1,161,202 shares of the company’s stock, valued at approximately $85,336,734.98. This trade represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,364 shares of company stock valued at $10,590,893. 27.94% of the stock is currently owned by company insiders.

Boyd Gaming Price Performance

BYD stock opened at $73.87 on Wednesday. The company has a market capitalization of $6.53 billion, a P/E ratio of 14.10, a PEG ratio of 9.93 and a beta of 1.54. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $76.73. The business has a 50 day simple moving average of $70.69 and a 200-day simple moving average of $62.59. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85.

Boyd Gaming announced that its board has approved a share repurchase plan on Thursday, December 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows 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 board believes its shares are undervalued.

Boyd Gaming Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Monday, December 16th. Boyd Gaming’s payout ratio is currently 12.98%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Argus raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Tuesday. Wells Fargo & Company upped their target price on shares of Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on shares of Boyd Gaming from $69.00 to $74.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Truist Financial boosted their price target on shares of Boyd Gaming from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Mizuho reiterated an “outperform” rating and set a $79.00 price target (up from $78.00) on shares of Boyd Gaming in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.64.

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.