BNP Paribas Financial Markets Acquires 15,451 Shares of Boyd Gaming Co. (NYSE:BYD)

BNP Paribas Financial Markets boosted its stake in Boyd Gaming Co. (NYSE:BYD - Free Report) by 81.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,361 shares of the company's stock after purchasing an additional 15,451 shares during the quarter. BNP Paribas Financial Markets' holdings in Boyd Gaming were worth $2,493,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Rhumbline Advisers lifted its holdings in shares of Boyd Gaming by 1.0% in the fourth quarter. Rhumbline Advisers now owns 185,714 shares of the company's stock worth $13,472,000 after buying an additional 1,797 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Boyd Gaming during the 4th quarter worth approximately $43,273,000. Allspring Global Investments Holdings LLC increased its holdings in Boyd Gaming by 226.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 202,824 shares of the company's stock worth $14,569,000 after acquiring an additional 140,707 shares during the period. Truist Financial Corp lifted its stake in Boyd Gaming by 20.7% in the 4th quarter. Truist Financial Corp now owns 4,458 shares of the company's stock worth $323,000 after purchasing an additional 765 shares in the last quarter. Finally, GC Wealth Management RIA LLC bought a new position in Boyd Gaming in the 4th quarter valued at $307,000. Hedge funds and other institutional investors own 76.81% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. JMP Securities restated a "market perform" rating on shares of Boyd Gaming in a research note on Friday, February 7th. Macquarie reaffirmed a "neutral" rating and issued a $74.00 price target on shares of Boyd Gaming in a report on Friday, April 25th. Stifel Nicolaus dropped their price target on Boyd Gaming from $82.00 to $71.00 and set a "hold" rating for the company in a research report on Friday, April 25th. Finally, Mizuho decreased their price objective on shares of Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $79.67.

Boyd Gaming Price Performance

NYSE BYD traded up $0.15 on Thursday, reaching $73.16. 72,895 shares of the company's stock traded hands, compared to its average volume of 943,864. The stock has a market cap of $5.96 billion, a PE ratio of 11.75, a P/E/G ratio of 4.46 and a beta of 1.32. Boyd Gaming Co. has a 12 month low of $49.34 and a 12 month high of $80.50. The stock has a 50-day simple moving average of $68.18 and a 200 day simple moving average of $71.85. 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 (NYSE:BYD - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.52 by $0.10. The company had revenue of $991.57 million for the quarter, compared to analysts' expectations of $976.38 million. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. The firm's revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.51 EPS. As a group, research analysts predict that Boyd Gaming Co. will post 6.52 earnings per share for the current year.

Boyd Gaming Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.72 annualized dividend and a dividend yield of 0.98%. Boyd Gaming's dividend payout ratio is currently 11.75%.

Insider Activity

In other news, Director Christine J. Spadafor sold 1,125 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $75.28, for a total value of $84,690.00. Following the transaction, the director now owns 4,852 shares in the company, valued at approximately $365,258.56. This trade represents a 18.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 27.94% of the stock is currently 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.