Renaissance Technologies LLC Raises Stock Holdings in Boyd Gaming Co. (NYSE:BYD)

Renaissance Technologies LLC increased its stake in Boyd Gaming Co. (NYSE:BYD - Free Report) by 398.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,300 shares of the company's stock after acquiring an additional 48,200 shares during the period. Renaissance Technologies LLC owned approximately 0.07% of Boyd Gaming worth $4,374,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BYD. Invesco Ltd. boosted its holdings in shares of Boyd Gaming by 27.5% in the 4th quarter. Invesco Ltd. now owns 468,136 shares of the company's stock worth $33,959,000 after purchasing an additional 101,029 shares during the period. Bank of Montreal Can boosted its stake in Boyd Gaming by 9.8% during the fourth quarter. Bank of Montreal Can now owns 9,079 shares of the company's stock worth $659,000 after buying an additional 813 shares during the period. Aristides Capital LLC purchased a new position in Boyd Gaming during the fourth quarter worth $325,000. Envestnet Asset Management Inc. increased its position in Boyd Gaming by 6.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 54,856 shares of the company's stock valued at $3,979,000 after acquiring an additional 3,138 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Boyd Gaming by 2.7% in the fourth quarter. Wells Fargo & Company MN now owns 54,107 shares of the company's stock valued at $3,925,000 after acquiring an additional 1,430 shares during the period. 76.81% of the stock is owned by institutional investors.

Boyd Gaming Stock Up 4.5 %

NYSE:BYD traded up $2.98 during trading hours on Friday, reaching $69.02. The company's stock had a trading volume of 2,173,239 shares, compared to its average volume of 989,593. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The company has a market capitalization of $5.70 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 4.46 and a beta of 1.31. The stock has a 50 day moving average price of $68.38 and a two-hundred day moving average price of $71.09. Boyd Gaming Co. has a 12 month low of $49.34 and a 12 month high of $80.50.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.52 by $0.10. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. The firm had revenue of $991.57 million during the quarter, compared to analyst estimates of $976.38 million. Equities analysts predict that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were issued a $0.18 dividend. This is a boost from Boyd Gaming's previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Monday, March 17th. Boyd Gaming's dividend payout ratio (DPR) is currently 11.58%.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, Director William R. Boyd sold 15,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total value of $1,189,800.00. Following the completion of the sale, the director now owns 1,472,970 shares of the company's stock, valued at approximately $116,835,980.40. This trade represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the transaction, the chairman now owns 1,346,628 shares in the company, valued at approximately $104,606,063.04. This trade represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,125 shares of company stock valued at $5,158,490 in the last 90 days. Insiders own 27.94% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Stifel Nicolaus cut their price target on shares of Boyd Gaming from $82.00 to $71.00 and set a "hold" rating on the stock in a report on Friday. Truist Financial cut their target price on Boyd Gaming from $92.00 to $85.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Mizuho decreased their price target on Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating for the company in a research note on Wednesday. JMP Securities reaffirmed a "market perform" rating on shares of Boyd Gaming in a research report on Friday, February 7th. Finally, Barclays decreased their target price on Boyd Gaming from $78.00 to $73.00 and set an "equal weight" rating for the company in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, Boyd Gaming has an average rating of "Moderate Buy" and a consensus price target of $93.47.

About Boyd Gaming

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.