Raymond James & Associates Reduces Position in Boyd Gaming Co. (NYSE:BYD)

Raymond James & Associates reduced its holdings in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 27.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,960 shares of the company's stock after selling 31,645 shares during the period. Raymond James & Associates owned 0.09% of Boyd Gaming worth $5,257,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Prospera Financial Services Inc raised its holdings in Boyd Gaming by 3.1% in the first quarter. Prospera Financial Services Inc now owns 5,306 shares of the company's stock worth $340,000 after buying an additional 159 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in Boyd Gaming by 15.0% in the second quarter. Sunbelt Securities Inc. now owns 1,575 shares of the company's stock worth $109,000 after buying an additional 205 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in Boyd Gaming by 105.5% in the third quarter. Parkside Financial Bank & Trust now owns 411 shares of the company's stock worth $25,000 after buying an additional 211 shares during the last quarter. Great Lakes Advisors LLC raised its holdings in Boyd Gaming by 3.7% in the third quarter. Great Lakes Advisors LLC now owns 5,971 shares of the company's stock worth $363,000 after buying an additional 213 shares during the last quarter. Finally, Lmcg Investments LLC raised its holdings in Boyd Gaming by 2.2% in the third quarter. Lmcg Investments LLC now owns 12,257 shares of the company's stock worth $746,000 after buying an additional 269 shares during the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Mizuho assumed coverage on shares of Boyd Gaming in a research note on Tuesday, March 26th. They issued a "buy" rating and a $80.00 price target for the company. Morgan Stanley boosted their price objective on shares of Boyd Gaming from $71.00 to $72.00 and gave the company an "equal weight" rating in a report on Tuesday. StockNews.com raised shares of Boyd Gaming from a "hold" rating to a "buy" rating in a report on Wednesday, January 24th. Truist Financial upped their target price on shares of Boyd Gaming from $76.00 to $80.00 and gave the company a "buy" rating in a report on Friday, February 9th. Finally, Barclays increased their price objective on shares of Boyd Gaming from $66.00 to $67.00 and gave the stock an "equal weight" rating in a research note on Friday, January 26th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Boyd Gaming presently has an average rating of "Moderate Buy" and an average price target of $76.30.

Boyd Gaming Price Performance

Shares of NYSE:BYD traded up $0.34 during midday trading on Thursday, reaching $65.42. 668,559 shares of the company were exchanged, compared to its average volume of 735,884. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. The business's fifty day moving average is $64.44 and its two-hundred day moving average is $61.79. Boyd Gaming Co. has a one year low of $52.42 and a one year high of $73.00. The stock has a market cap of $6.26 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 3.05 and a beta of 1.60.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its earnings results on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. The firm had revenue of $954.41 million during the quarter, compared to analyst estimates of $928.04 million. During the same quarter in the prior year, the business earned $1.72 earnings per share. Boyd Gaming's revenue for the quarter was up 3.4% on a year-over-year basis. As a group, analysts predict that Boyd Gaming Co. will post 6.21 earnings per share for the current year.

Boyd Gaming Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.68 annualized dividend and a yield of 1.04%. This is a positive change from Boyd Gaming's previous quarterly dividend of $0.16. Boyd Gaming's dividend payout ratio (DPR) is 11.15%.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, VP William R. Boyd sold 50,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $64.04, for a total transaction of $3,202,000.00. Following the completion of the transaction, the vice president now owns 1,617,970 shares in the company, valued at $103,614,798.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP William R. Boyd sold 50,000 shares of the firm's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $64.04, for a total value of $3,202,000.00. Following the completion of the sale, the vice president now owns 1,617,970 shares in the company, valued at approximately $103,614,798.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder William S. Boyd sold 63,464 shares of the firm's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the completion of the sale, the insider now owns 8,795,449 shares of the company's stock, valued at approximately $555,168,740.88. The disclosure for this sale can be found here. Insiders sold 582,910 shares of company stock worth $37,299,461 over the last 90 days. 28.40% of the stock is owned by insiders.

Boyd Gaming Company 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.