Globeflex Capital L P Makes New Investment in Boyd Gaming Co. (NYSE:BYD)

Globeflex Capital L P acquired a new position in shares of Boyd Gaming Co. (NYSE:BYD) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $725,000.

Other large investors have also modified their holdings of the company. UMB Bank n.a. grew its holdings in shares of Boyd Gaming by 80.3% during the fourth quarter. UMB Bank n.a. now owns 393 shares of the company’s stock worth $29,000 after buying an additional 175 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Boyd Gaming by 47.4% in the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares during the period. Covestor Ltd grew its holdings in shares of Boyd Gaming by 54.9% in the third quarter. Covestor Ltd now owns 587 shares of the company’s stock valued at $38,000 after purchasing an additional 208 shares during the period. Quarry LP grew 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 during the period. Finally, Venturi Wealth Management LLC grew its holdings in shares of Boyd Gaming by 85.3% in the third quarter. Venturi Wealth Management LLC now owns 943 shares of the company’s stock valued at $61,000 after purchasing an additional 434 shares during the period. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 50,000 shares of Boyd Gaming stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total value of $3,884,000.00. Following the completion of the transaction, the chairman now owns 1,346,628 shares of the company’s stock, valued at $104,606,063.04. The trade was a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director William R. Boyd sold 15,000 shares of Boyd Gaming stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the completion of the transaction, the director now directly owns 1,472,970 shares of the company’s stock, valued at approximately $116,835,980.40. This represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,125 shares of company stock valued at $5,158,490. 27.94% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BYD shares. Mizuho increased their price target on shares of Boyd Gaming from $79.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Truist Financial increased their price target on shares of Boyd Gaming from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Wells Fargo & Company increased their price target on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. StockNews.com cut shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 27th. Finally, Susquehanna raised shares of Boyd Gaming from a “neutral” rating to a “positive” rating and reduced their target price for the company from $79.00 to $77.00 in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.20.

Boyd Gaming Trading Up 3.8 %

NYSE BYD opened at $68.48 on Friday. Boyd Gaming Co. has a one year low of $49.34 and a one year high of $80.50. The company’s 50 day moving average price is $74.64 and its 200 day moving average price is $70.33. 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 firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 4.46 and a beta of 1.55.

Boyd Gaming (NYSE:BYD) last posted 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, sell-side analysts predict that Boyd Gaming Co. will post 6.52 EPS for the current year.

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

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.05%. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.17. Boyd Gaming’s dividend payout ratio (DPR) is presently 11.58%.

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.