Algert Global LLC Lowers Stake in Boyd Gaming Co. (NYSE:BYD)

Algert Global LLC trimmed its holdings in Boyd Gaming Co. (NYSE:BYD - Free Report) by 49.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,262 shares of the company's stock after selling 69,741 shares during the period. Algert Global LLC owned about 0.08% of Boyd Gaming worth $5,242,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Boyd Gaming

In related news, Director Christine J. Spadafor sold 1,125 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $365,258.56. This trade represents a 18.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total value of $3,884,000.00. Following the completion of the transaction, the chairman now directly owns 1,346,628 shares of the company's stock, valued at approximately $104,606,063.04. The trade was a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,125 shares of company stock valued at $5,158,490 in the last three months. Company insiders own 21.97% of the company's stock.

Analyst Upgrades and Downgrades

BYD has been the subject of a number of research reports. Susquehanna upped their price objective on shares of Boyd Gaming from $75.00 to $76.00 and gave the company a "positive" rating in a research note on Friday, April 25th. JMP Securities reissued a "market perform" rating on shares of Boyd Gaming in a research report on Friday, February 7th. Mizuho dropped their price objective 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. StockNews.com cut shares of Boyd Gaming from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. raised their price target on Boyd Gaming from $74.00 to $80.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, Boyd Gaming has an average rating of "Moderate Buy" and an average target price of $95.07.

Boyd Gaming Price Performance

NYSE BYD traded up $0.47 on Friday, hitting $72.04. 820,361 shares of the company were exchanged, compared to its average volume of 948,906. 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 1-year low of $49.34 and a 1-year high of $80.50. The company has a market cap of $5.94 billion, a P/E ratio of 11.58, a P/E/G ratio of 4.46 and a beta of 1.32. The firm has a 50 day moving average of $67.17 and a two-hundred day moving average of $71.56.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 35.97% and a net margin of 14.70%. The company's revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.51 earnings per share. On average, equities analysts predict that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Announces Dividend

The business 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 $0.18 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.00%. Boyd Gaming's dividend payout ratio (DPR) is presently 11.75%.

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.