Legal & General Group Plc reduced its stake in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 8.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,656 shares of the company's stock after selling 13,025 shares during the quarter. Legal & General Group Plc owned about 0.16% of Boyd Gaming worth $10,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. lifted its position in shares of Boyd Gaming by 27.5% in the fourth quarter. Invesco Ltd. now owns 468,136 shares of the company's stock worth $33,959,000 after buying an additional 101,029 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Boyd Gaming by 9.8% in the fourth quarter. Bank of Montreal Can now owns 9,079 shares of the company's stock valued at $659,000 after purchasing an additional 813 shares in the last quarter. Aristides Capital LLC bought a new position in Boyd Gaming during the fourth quarter valued at $325,000. Envestnet Asset Management Inc. grew its stake in shares of Boyd Gaming by 6.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 54,856 shares of the company's stock worth $3,979,000 after buying an additional 3,138 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Boyd Gaming by 2.7% in the 4th quarter. Wells Fargo & Company MN now owns 54,107 shares of the company's stock worth $3,925,000 after buying an additional 1,430 shares during the last quarter. Institutional investors own 76.81% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Boyd Gaming from $82.00 to $88.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Jefferies Financial Group raised shares of Boyd Gaming from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $73.00 to $92.00 in a research note on Friday, January 3rd. JPMorgan Chase & Co. raised their target price on shares of Boyd Gaming from $74.00 to $80.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Morgan Stanley decreased their price objective on shares of Boyd Gaming from $75.00 to $72.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, JMP Securities reiterated a "market perform" rating on shares of Boyd Gaming in a report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, Boyd Gaming has a consensus rating of "Moderate Buy" and an average price target of $93.93.
Get Our Latest Stock Report on Boyd Gaming
Insider Buying and Selling
In related news, Director Christine J. Spadafor sold 1,125 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $75.28, for a total transaction 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 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 link. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of Boyd Gaming stock in a transaction on Tuesday, February 11th. The stock was 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 in the company, valued at $104,606,063.04. This represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,125 shares of company stock worth $5,158,490 in the last three months. 27.94% of the stock is owned by insiders.
Boyd Gaming Stock Up 3.3 %
NYSE BYD traded up $2.17 during trading on Wednesday, reaching $67.96. 105,806 shares of the company's stock traded hands, compared to its average volume of 986,975. Boyd Gaming Co. has a 12-month low of $49.34 and a 12-month high of $80.50. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 4.46 and a beta of 1.31. The company's 50 day simple moving average is $69.08 and its two-hundred day simple moving average is $71.08.
Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. As a group, sell-side analysts forecast that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.
Boyd Gaming Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.06%. This is a positive change from Boyd Gaming's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, March 17th. Boyd Gaming's payout ratio is presently 11.58%.
Boyd Gaming Profile
(
Free Report)
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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