Foster & Motley Inc. Boosts Holdings in Boyd Gaming Corporation $BYD

Key Points

• Foster & Motley Inc. increased its stake in Boyd Gaming by 19.8% during Q4, buying an additional 13,643 shares to hold 82,611 shares worth about $7.04 million (≈0.11% of the company).
• Large institutional activity included First Trust Advisors boosting its position by 679.7% to 1,122,869 shares and new stakes from Norges Bank, Clark Capital and Wedge Capital, leaving institutions owning 76.81% of the stock.
• Boyd Gaming beat Q4 expectations with $2.21 EPS vs. $1.88 estimated and $1.06B revenue, and the company raised its quarterly dividend to $0.20 (annualized $0.80, ~1.0% yield).

Foster & Motley Inc. raised its position in Boyd Gaming Corporation (NYSE:BYD - Free Report) by 19.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 82,611 shares of the company's stock after buying an additional 13,643 shares during the period. Foster & Motley Inc. owned about 0.11% of Boyd Gaming worth $7,042,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Trust Advisors LP lifted its holdings in Boyd Gaming by 679.7% in the 2nd quarter. First Trust Advisors LP now owns 1,122,869 shares of the company's stock valued at $87,842,000 after purchasing an additional 978,853 shares in the last quarter. Norges Bank purchased a new stake in shares of Boyd Gaming in the second quarter valued at about $54,933,000. Clark Capital Management Group Inc. purchased a new stake in shares of Boyd Gaming in the 3rd quarter valued at approximately $50,295,000. Wedge Capital Management L L P NC purchased a new position in Boyd Gaming in the third quarter worth approximately $32,304,000. Finally, Invesco Ltd. grew its holdings in shares of Boyd Gaming by 109.8% during the 3rd quarter. Invesco Ltd. now owns 654,434 shares of the company's stock worth $56,576,000 after purchasing an additional 342,575 shares during the period. Hedge funds and other institutional investors own 76.81% of the company's stock.

Analyst Upgrades and Downgrades

BYD has been the subject of several research analyst reports. Truist Financial set a $110.00 price target on Boyd Gaming in a research report on Tuesday, January 13th. Stifel Nicolaus lifted their price target on shares of Boyd Gaming from $90.00 to $95.00 and gave the stock a "hold" rating in a research note on Friday, February 6th. Morgan Stanley set a $86.00 price objective on shares of Boyd Gaming in a report on Wednesday, February 11th. Mizuho set a $100.00 target price on Boyd Gaming in a research note on Monday, February 2nd. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Boyd Gaming in a research report on Wednesday, December 24th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Boyd Gaming presently has an average rating of "Hold" and a consensus price target of $92.58.

Boyd Gaming Stock Up 0.0%

BYD stock opened at $80.18 on Tuesday. The company's 50-day moving average price is $83.10 and its 200 day moving average price is $83.35. The company has a market cap of $6.04 billion, a P/E ratio of 3.52, a P/E/G ratio of 1.69 and a beta of 1.20. The company has a current ratio of 0.54, a quick ratio of 0.52 and a debt-to-equity ratio of 0.78. Boyd Gaming Corporation has a 52 week low of $58.94 and a 52 week high of $89.96.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The company reported $2.21 EPS for the quarter, beating analysts' consensus estimates of $1.88 by $0.33. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.02 billion. Boyd Gaming had a net margin of 45.05% and a return on equity of 30.14%. The firm's revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.96 EPS. On average, research analysts expect that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be issued a $0.20 dividend. The ex-dividend date is Monday, March 16th. This is an increase from Boyd Gaming's previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Boyd Gaming's payout ratio is 3.52%.

Insider Activity

In other Boyd Gaming news, Director William R. Boyd sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $84.84, for a total transaction of $2,545,200.00. Following the completion of the sale, the director directly owned 1,930,447 shares in the company, valued at $163,779,123.48. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Josh Hirsberg sold 23,924 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $85.86, for a total value of $2,054,114.64. Following the completion of the sale, the chief financial officer owned 435,746 shares of the company's stock, valued at approximately $37,413,151.56. This trade represents a 5.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 73,454 shares of company stock valued at $6,231,827 in the last three months. Corporate insiders own 22.82% of the company's stock.

Boyd Gaming Company Profile

Boyd Gaming Corporation NYSE: BYD is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming's offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.

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