Freestone Grove Partners LP Buys Shares of 8,791 Boyd Gaming Co. (NYSE:BYD)

Freestone Grove Partners LP purchased a new position in Boyd Gaming Co. (NYSE:BYD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,791 shares of the company's stock, valued at approximately $638,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BYD. Barclays PLC lifted its holdings in Boyd Gaming by 23.9% during the third quarter. Barclays PLC now owns 167,542 shares of the company's stock worth $10,831,000 after buying an additional 32,332 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Boyd Gaming during the 3rd quarter worth $64,000. GAMMA Investing LLC lifted its stake in shares of Boyd Gaming by 47.4% during the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company's stock worth $33,000 after purchasing an additional 148 shares during the last quarter. Miracle Mile Advisors LLC bought a new stake in Boyd Gaming during the fourth quarter valued at about $306,000. Finally, Burney Co. grew its stake in Boyd Gaming by 7.7% in the fourth quarter. Burney Co. now owns 29,598 shares of the company's stock valued at $2,147,000 after purchasing an additional 2,125 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BYD shares. Truist Financial lowered their price target on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Macquarie reaffirmed a "neutral" rating and issued a $74.00 price target on shares of Boyd Gaming in a report on Friday, April 25th. Stifel Nicolaus decreased their price objective on Boyd Gaming from $82.00 to $71.00 and set a "hold" rating for the company in a report on Friday, April 25th. Mizuho dropped their target price 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. Finally, Wells Fargo & Company increased their price target on Boyd Gaming from $82.00 to $88.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $95.07.

Insider Buying and Selling at Boyd Gaming

In other news, Chairman Marianne Boyd Johnson sold 50,000 shares of Boyd Gaming stock in a transaction that occurred on 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 completion of the transaction, the chairman now directly owns 1,346,628 shares of the company's stock, valued at $104,606,063.04. The trade was a 3.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William R. Boyd sold 15,000 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the completion of the transaction, the director now owns 1,472,970 shares of the company's stock, valued at approximately $116,835,980.40. This represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,125 shares of company stock worth $5,158,490. Insiders own 27.94% of the company's stock.

Boyd Gaming Trading Up 2.6 %

Boyd Gaming stock opened at $70.94 on Friday. The stock has a 50-day moving average price of $67.58 and a 200 day moving average price of $71.35. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 4.46 and a beta of 1.31. Boyd Gaming Co. has a 52 week low of $49.34 and a 52 week high of $80.50. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.52 by $0.10. The business had revenue of $991.57 million during the quarter, compared to analysts' expectations of $976.38 million. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. The business's quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.51 EPS. Sell-side analysts anticipate that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were given a dividend of $0.18 per share. This is an increase from Boyd Gaming's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Monday, March 17th. Boyd Gaming's dividend payout ratio (DPR) is currently 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.

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