Burney Co. Has $2.15 Million Stake in Boyd Gaming Co. (NYSE:BYD)

Burney Co. increased its stake in Boyd Gaming Co. (NYSE:BYD) by 7.7% in the 4th quarter, Holdings Channel reports. The firm owned 29,598 shares of the company’s stock after purchasing an additional 2,125 shares during the period. Burney Co.’s holdings in Boyd Gaming were worth $2,147,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in BYD. Altshuler Shaham Ltd acquired a new stake in shares of Boyd Gaming in the second quarter worth $29,000. GAMMA Investing LLC raised its holdings in Boyd Gaming by 47.4% in 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. 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 last quarter. Quarry LP boosted its holdings in Boyd Gaming by 150.1% during the third quarter. Quarry LP now owns 873 shares of the company’s stock valued at $56,000 after acquiring an additional 524 shares during the period. Finally, Farther Finance Advisors LLC grew its position in shares of Boyd Gaming by 921.8% in the third quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock valued at $57,000 after purchasing an additional 802 shares during the last quarter. Institutional investors own 76.81% of the company’s stock.

Analyst Upgrades and Downgrades

BYD has been the subject of several research analyst reports. 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 upped their price target on Boyd Gaming from $70.00 to $71.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Truist Financial raised their price objective on shares of Boyd Gaming from $77.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday. Mizuho reiterated an “outperform” rating and set a $79.00 target price (up from $78.00) on shares of Boyd Gaming in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of Boyd Gaming from $69.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.20.

Boyd Gaming Price Performance

Shares of BYD stock opened at $73.46 on Thursday. 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 fifty day simple moving average is $72.91 and its 200 day simple moving average is $65.14. Boyd Gaming Co. has a one year low of $49.34 and a one year high of $76.73. The firm has a market cap of $6.49 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 9.93 and a beta of 1.54.

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Monday, December 16th. Boyd Gaming’s payout ratio is 12.98%.

Boyd Gaming declared that its board has initiated a share buyback plan on Thursday, December 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Keith Smith sold 40,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,161,202 shares in the company, valued at $85,336,734.98. This represents a 3.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William R. Boyd sold 25,155 shares of Boyd Gaming stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $69.35, for a total value of $1,744,499.25. Following the completion of the transaction, the director now owns 1,487,970 shares of the company’s stock, valued at approximately $103,190,719.50. The trade was a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,364 shares of company stock worth $10,590,893 in the last quarter. 27.94% of the stock is owned by corporate insiders.

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.