Victory Capital Management Inc. Purchases 894,383 Shares of Boyd Gaming Co. (NYSE:BYD)

Victory Capital Management Inc. boosted its holdings in Boyd Gaming Co. (NYSE:BYD) by 6,158.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 908,905 shares of the company’s stock after acquiring an additional 894,383 shares during the quarter. Victory Capital Management Inc. owned 0.99% of Boyd Gaming worth $58,761,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BYD. Seven Eight Capital LP purchased a new stake in shares of Boyd Gaming during the first quarter valued at $930,000. Banco Santander S.A. lifted its stake in Boyd Gaming by 34.0% during the 1st quarter. Banco Santander S.A. now owns 187,492 shares of the company’s stock valued at $12,622,000 after acquiring an additional 47,606 shares during the period. Comerica Bank boosted its holdings in shares of Boyd Gaming by 103.1% during the 1st quarter. Comerica Bank now owns 42,898 shares of the company’s stock valued at $2,888,000 after acquiring an additional 21,772 shares during the last quarter. Sei Investments Co. grew its stake in shares of Boyd Gaming by 24.7% in the second quarter. Sei Investments Co. now owns 497,331 shares of the company’s stock worth $27,403,000 after acquiring an additional 98,508 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Boyd Gaming by 11,891.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 62,117 shares of the company’s stock valued at $4,016,000 after purchasing an additional 61,599 shares during the last quarter. Institutional investors own 76.81% of the company’s stock.

Insiders Place Their Bets

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $60.36, for a total transaction of $74,967.12. Following the completion of the sale, the director now directly owns 1,096 shares of the company’s stock, valued at $66,154.56. This trade represents a 53.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Keith Smith sold 40,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 161,076 shares of company stock worth $10,702,931. Corporate insiders own 27.94% of the company’s stock.

Boyd Gaming Price Performance

Shares of NYSE:BYD opened at $73.02 on Friday. The company has a market capitalization of $6.45 billion, a P/E ratio of 13.93, a P/E/G ratio of 9.64 and a beta of 1.55. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $74.78. The firm’s 50 day simple moving average is $65.74 and its two-hundred day simple moving average is $59.26. 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 was paid on Tuesday, October 15th. Investors of record on Sunday, September 15th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.93%. The ex-dividend date was Friday, September 13th. Boyd Gaming’s dividend payout ratio is currently 12.98%.

Analyst Ratings Changes

BYD has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on shares of Boyd Gaming from $68.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Bank of America raised their price target on Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. StockNews.com raised Boyd Gaming from a “buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Stifel Nicolaus increased their target price on Boyd Gaming from $67.00 to $74.00 and gave the company a “hold” rating in a report on Friday, October 25th. Finally, Morgan Stanley boosted their price target on Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.38.

Boyd Gaming Company 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.