PharVision Advisers LLC Makes New Investment in Boyd Gaming Co. (NYSE:BYD)

PharVision Advisers LLC bought a new stake in Boyd Gaming Co. (NYSE:BYD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,190 shares of the company's stock, valued at approximately $522,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BYD. Cohen & Steers Inc. increased its stake in Boyd Gaming by 0.4% in the fourth quarter. Cohen & Steers Inc. now owns 5,265,454 shares of the company's stock valued at $381,929,000 after acquiring an additional 21,616 shares during the last quarter. Boston Partners boosted its holdings in shares of Boyd Gaming by 36.9% in the 4th quarter. Boston Partners now owns 3,955,544 shares of the company's stock valued at $287,185,000 after purchasing an additional 1,065,887 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Boyd Gaming by 51.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company's stock valued at $94,074,000 after purchasing an additional 441,963 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Boyd Gaming by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 974,973 shares of the company's stock valued at $70,725,000 after purchasing an additional 3,052 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Boyd Gaming by 37.2% during the 4th quarter. Franklin Resources Inc. now owns 964,051 shares of the company's stock worth $69,932,000 after buying an additional 261,443 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BYD has been the topic of several research analyst reports. Mizuho reduced their price objective on Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company raised their price target on shares of Boyd Gaming from $82.00 to $88.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Susquehanna upped their price objective on shares of Boyd Gaming from $75.00 to $76.00 and gave the stock a "positive" rating in a research report on Friday, April 25th. Truist Financial dropped their price objective on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Finally, Macquarie reaffirmed a "neutral" rating and set a $74.00 target price on shares of Boyd Gaming in a research note on Friday, April 25th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.67.

Boyd Gaming Stock Down 0.3%

BYD traded down $0.25 during midday trading on Monday, reaching $73.08. 948,361 shares of the company were exchanged, compared to its average volume of 943,114. The company has a market cap of $5.95 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 4.46 and a beta of 1.32. Boyd Gaming Co. has a one year low of $49.34 and a one year high of $80.50. The company's fifty day moving average price is $68.37 and its 200 day moving average price is $71.91. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.10. The business 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%. Boyd Gaming's revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.51 earnings per share. As a group, analysts expect that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Dividend Announcement

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

Insider Activity

In other news, Director Christine J. Spadafor sold 1,125 shares of the company's stock in a transaction that occurred 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 transaction, the director now directly owns 4,852 shares of the company's stock, valued at $365,258.56. This represents a 18.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 27.94% of the stock is currently owned by corporate insiders.

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.