Ameriprise Financial Inc. Increases Stock Position in Boyd Gaming Co. (NYSE:BYD)

Ameriprise Financial Inc. grew its stake in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 19.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 193,768 shares of the company's stock after buying an additional 31,130 shares during the period. Ameriprise Financial Inc. owned 0.22% of Boyd Gaming worth $14,057,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cohen & Steers Inc. increased its position in shares of Boyd Gaming by 0.4% in the fourth quarter. Cohen & Steers Inc. now owns 5,265,454 shares of the company's stock worth $381,929,000 after purchasing an additional 21,616 shares during the last quarter. Boston Partners increased its position in shares of Boyd Gaming by 36.9% in the fourth quarter. Boston Partners now owns 3,955,544 shares of the company's stock worth $287,185,000 after purchasing an additional 1,065,887 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Boyd Gaming by 51.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company's stock worth $94,074,000 after purchasing an additional 441,963 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Boyd Gaming by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 974,973 shares of the company's stock worth $70,725,000 after purchasing an additional 3,052 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Boyd Gaming by 37.2% in the fourth quarter. Franklin Resources Inc. now owns 964,051 shares of the company's stock worth $69,932,000 after purchasing an additional 261,443 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Christine J. Spadafor sold 1,125 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $75.28, for a total value of $84,690.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 27.94% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BYD has been the topic of several research analyst reports. Truist Financial decreased their price objective on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. JMP Securities restated a "market perform" rating on shares of Boyd Gaming in a research report on Friday, February 7th. Barclays decreased their price objective on shares of Boyd Gaming from $78.00 to $73.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. 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. Finally, Wells Fargo & Company upped their target price on Boyd Gaming from $82.00 to $88.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Boyd Gaming has a consensus rating of "Moderate Buy" and a consensus target price of $79.67.

Boyd Gaming Trading Down 0.3%

BYD stock traded down $0.25 on Friday, reaching $73.08. The company's stock had a trading volume of 948,361 shares, compared to its average volume of 943,208. The business has a fifty day simple moving average of $68.37 and a two-hundred day simple moving average of $71.92. Boyd Gaming Co. has a 12-month low of $49.34 and a 12-month high of $80.50. The firm has a market cap of $5.95 billion, a PE ratio of 11.75, a PEG ratio of 4.46 and a beta of 1.32. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly 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. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. The company had revenue of $991.57 million during the quarter, compared to analyst estimates of $976.38 million. During the same quarter last year, the firm posted $1.51 earnings per share. The firm's revenue was up 3.2% on a year-over-year basis. As a group, research analysts forecast that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Monday, June 16th. Boyd Gaming's payout ratio is 11.75%.

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.