Boyd Gaming Co. (NYSE:BYD) Shares Acquired by Boston Partners

Boston Partners increased its holdings in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 29.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,756,215 shares of the company's stock after purchasing an additional 628,512 shares during the quarter. Boston Partners owned approximately 2.82% of Boyd Gaming worth $172,638,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its position in shares of Boyd Gaming by 105.5% during the third quarter. Parkside Financial Bank & Trust now owns 411 shares of the company's stock worth $25,000 after purchasing an additional 211 shares in the last quarter. Rakuten Securities Inc. purchased a new stake in Boyd Gaming in the fourth quarter valued at approximately $30,000. Principal Securities Inc. acquired a new stake in shares of Boyd Gaming in the fourth quarter valued at approximately $50,000. Allworth Financial LP grew its position in shares of Boyd Gaming by 3,333.3% during the fourth quarter. Allworth Financial LP now owns 1,030 shares of the company's stock worth $64,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Boyd Gaming by 20,342.9% in the 4th quarter. Blue Trust Inc. now owns 1,431 shares of the company's stock valued at $87,000 after acquiring an additional 1,424 shares during the period. 76.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on BYD. Mizuho lowered their price target on Boyd Gaming from $80.00 to $78.00 and set a "buy" rating on the stock in a report on Friday, April 26th. JPMorgan Chase & Co. cut Boyd Gaming from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $80.00 to $67.00 in a research note on Friday, April 26th. Wells Fargo & Company lowered their price objective on shares of Boyd Gaming from $82.00 to $71.00 and set an "overweight" rating on the stock in a research report on Friday, April 26th. Truist Financial dropped their price objective on shares of Boyd Gaming from $80.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, April 26th. Finally, Argus cut shares of Boyd Gaming from a "buy" rating to a "hold" rating in a research note on Wednesday, May 1st. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Boyd Gaming presently has an average rating of "Hold" and an average price target of $72.20.

Boyd Gaming Price Performance

Shares of BYD traded up $0.68 on Monday, reaching $54.58. The stock had a trading volume of 799,391 shares, compared to its average volume of 861,262. Boyd Gaming Co. has a twelve month low of $52.42 and a twelve month high of $73.00. The firm has a market capitalization of $5.18 billion, a PE ratio of 9.80 and a beta of 1.64. The firm has a 50-day moving average of $62.02 and a 200 day moving average of $61.65. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 1.61.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its earnings results on Thursday, February 8th. The company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The company had revenue of $954.41 million for the quarter, compared to the consensus estimate of $928.04 million. Boyd Gaming had a return on equity of 34.76% and a net margin of 14.91%. Boyd Gaming's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.72 earnings per share. Sell-side analysts expect that Boyd Gaming Co. will post 6.06 EPS for the current year.

Boyd Gaming Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a dividend of $0.17 per share. This is an increase from Boyd Gaming's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Thursday, March 14th. Boyd Gaming's dividend payout ratio (DPR) is 12.21%.

Insiders Place Their Bets

In other news, major shareholder William S. Boyd sold 63,464 shares of the firm's stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the completion of the transaction, the insider now directly owns 8,795,449 shares of the company's stock, valued at approximately $555,168,740.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, major shareholder William S. Boyd sold 63,464 shares of the company's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total value of $4,005,847.68. Following the sale, the insider now directly owns 8,795,449 shares in the company, valued at $555,168,740.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder William S. Boyd sold 125,000 shares of Boyd Gaming stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $63.72, for a total value of $7,965,000.00. Following the sale, the insider now owns 9,108,913 shares of the company's stock, valued at approximately $580,419,936.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 582,910 shares of company stock worth $37,299,461. Insiders own 27.94% of the company's stock.

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.

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