Boston Partners Has $287.19 Million Stake in Boyd Gaming Co. (NYSE:BYD)

Boston Partners raised its position in Boyd Gaming Co. (NYSE:BYD) by 36.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,955,544 shares of the company’s stock after acquiring an additional 1,065,887 shares during the quarter. Boston Partners’ holdings in Boyd Gaming were worth $287,185,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BYD. Raymond James Financial Inc. acquired a new stake in Boyd Gaming in the fourth quarter valued at $43,273,000. Goldentree Asset Management LP bought a new position in shares of Boyd Gaming in the third quarter valued at about $11,490,000. Allspring Global Investments Holdings LLC raised its position in shares of Boyd Gaming by 226.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 202,824 shares of the company’s stock valued at $14,569,000 after purchasing an additional 140,707 shares during the period. Weiss Asset Management LP bought a new position in shares of Boyd Gaming in the third quarter valued at about $7,101,000. Finally, Algert Global LLC raised its position in shares of Boyd Gaming by 183.4% in the third quarter. Algert Global LLC now owns 142,003 shares of the company’s stock valued at $9,180,000 after purchasing an additional 91,900 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

Boyd Gaming Stock Performance

Shares of BYD stock opened at $69.33 on Tuesday. The firm has a market capitalization of $5.81 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 4.46 and a beta of 1.55. The firm has a fifty day simple moving average of $74.56 and a two-hundred day simple moving average of $70.54. 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 Co. has a 12 month low of $49.34 and a 12 month high of $80.50.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. Analysts forecast that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.04%. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, March 17th. Boyd Gaming’s payout ratio is currently 11.58%.

Boyd Gaming declared that its Board of Directors has authorized a share buyback program on Thursday, December 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

BYD has been the topic of a number of recent research reports. Susquehanna raised shares of Boyd Gaming from a “neutral” rating to a “positive” rating and lowered their price target for the stock from $79.00 to $77.00 in a research report on Wednesday, March 12th. Truist Financial raised their target price on shares of Boyd Gaming from $85.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Stifel Nicolaus raised their target price on shares of Boyd Gaming from $74.00 to $82.00 and gave the company a “hold” rating in a report on Friday, February 7th. JPMorgan Chase & Co. raised their price target on shares of Boyd Gaming from $74.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Finally, Jefferies Financial Group upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and raised their price target for the company from $73.00 to $92.00 in a research note on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Boyd Gaming currently has a consensus rating of “Moderate Buy” and an average target price of $95.20.

Insiders Place Their Bets

In other Boyd Gaming news, Director William R. Boyd sold 15,000 shares of Boyd Gaming stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the transaction, the director now directly owns 1,472,970 shares of the company’s stock, valued at $116,835,980.40. The trade was a 1.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christine J. Spadafor sold 1,125 shares of Boyd Gaming stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $75.28, for a total transaction of $84,690.00. Following the transaction, the director now directly owns 4,852 shares in the company, valued at $365,258.56. This represents a 18.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,125 shares of company stock valued at $5,158,490 in the last three months. 27.94% of the stock is currently owned by 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.