Boyd Gaming Co. (NYSE:BYD) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its position in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 735,906 shares of the company's stock after selling 5,413 shares during the quarter. Bank of America Corp DE owned approximately 0.83% of Boyd Gaming worth $53,383,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Rhumbline Advisers raised its holdings in Boyd Gaming by 1.0% in the 4th quarter. Rhumbline Advisers now owns 185,714 shares of the company's stock valued at $13,472,000 after acquiring an additional 1,797 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Boyd Gaming in the fourth quarter valued at $43,273,000. Allspring Global Investments Holdings LLC increased its stake in 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 last quarter. Truist Financial Corp lifted its position in Boyd Gaming by 20.7% during the fourth quarter. Truist Financial Corp now owns 4,458 shares of the company's stock worth $323,000 after buying an additional 765 shares during the period. Finally, GC Wealth Management RIA LLC acquired a new stake in Boyd Gaming in the 4th quarter worth about $307,000. Institutional investors and hedge funds own 76.81% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BYD. Macquarie reiterated a "neutral" rating and set a $74.00 price objective on shares of Boyd Gaming in a report on Friday, April 25th. JPMorgan Chase & Co. increased their price target on shares of Boyd Gaming from $74.00 to $80.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Mizuho decreased their price target on shares of Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company upped their price objective on Boyd Gaming from $82.00 to $88.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Finally, Stifel Nicolaus reduced their target price on Boyd Gaming from $82.00 to $71.00 and set a "hold" rating on the stock in a report on Friday, April 25th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $95.07.

Boyd Gaming Stock Up 0.6%

Shares of NYSE BYD traded up $0.48 on Friday, hitting $75.90. The company had a trading volume of 781,404 shares, compared to its average volume of 949,375. The company has a quick ratio of 0.79, a current ratio of 0.82 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. The firm has a market capitalization of $6.18 billion, a P/E ratio of 12.20, a PEG ratio of 4.46 and a beta of 1.32. The business has a 50 day moving average of $67.78 and a two-hundred day moving average of $71.76.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.10. The company had revenue of $991.57 million during the quarter, compared to the consensus estimate of $976.38 million. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. Boyd Gaming's revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $1.51 earnings per share. As a group, equities research analysts forecast that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Monday, June 16th. Boyd Gaming's payout ratio is 11.75%.

Insider Buying and Selling

In other news, Director William R. Boyd sold 15,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $116,835,980.40. This represents a 1.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Christine J. Spadafor sold 1,125 shares of the firm's stock in a transaction that occurred 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 sale, the director now directly owns 4,852 shares of the company's stock, valued at $365,258.56. The trade was a 18.82% decrease in their position. The disclosure for this sale can be found here. 27.94% of the stock is currently owned by insiders.

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.