WBI Investments LLC Raises Position in Boyd Gaming Co. (NYSE:BYD)

WBI Investments LLC lifted its stake in Boyd Gaming Co. (NYSE:BYD) by 440.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,257 shares of the company’s stock after buying an additional 31,182 shares during the quarter. WBI Investments LLC’s holdings in Boyd Gaming were worth $2,775,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in Boyd Gaming by 23.9% in the 3rd quarter. Barclays PLC now owns 167,542 shares of the company’s stock worth $10,831,000 after purchasing an additional 32,332 shares in the last quarter. Kera Capital Partners Inc. purchased a new position in Boyd Gaming during the 4th quarter valued at approximately $220,000. Aaron Wealth Advisors LLC bought a new stake in Boyd Gaming in the 4th quarter worth approximately $265,000. UMB Bank n.a. increased its stake in Boyd Gaming by 80.3% in the 4th quarter. UMB Bank n.a. now owns 393 shares of the company’s stock worth $29,000 after acquiring an additional 175 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. raised its holdings in shares of Boyd Gaming by 900.0% during the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 10,000 shares of the company’s stock worth $725,000 after acquiring an additional 9,000 shares in the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

Boyd Gaming Stock Up 0.6%

NYSE:BYD opened at $75.90 on Monday. 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. The stock’s fifty day moving average is $67.78 and its two-hundred day moving average is $71.79. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 4.46 and a beta of 1.32.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates 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%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 earnings per share. Research analysts anticipate that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.72 dividend on an annualized basis and a yield of 0.95%. Boyd Gaming’s payout ratio is currently 11.75%.

Insider Buying and Selling

In other Boyd Gaming news, Director William R. Boyd sold 15,000 shares of the firm’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 transaction, the director now directly owns 1,472,970 shares of the company’s stock, valued at approximately $116,835,980.40. This trade represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christine J. Spadafor sold 1,125 shares of the company’s stock in a transaction dated 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 directly owns 4,852 shares of the company’s stock, valued at $365,258.56. The trade was a 18.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. 27.94% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BYD. StockNews.com cut shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th. Susquehanna increased their price target on Boyd Gaming from $75.00 to $76.00 and gave the stock a “positive” rating in a report on Friday, April 25th. JMP Securities reaffirmed a “market perform” rating on shares of Boyd Gaming in a research note on Friday, February 7th. Barclays dropped their price objective on Boyd Gaming from $78.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Truist Financial reduced their price target on shares of Boyd Gaming from $92.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.69.

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.