PharVision Advisers LLC Makes New Investment in Boyd Gaming Co. (NYSE:BYD)

PharVision Advisers LLC acquired a new position in Boyd Gaming Co. (NYSE:BYD) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 7,190 shares of the company’s stock, valued at approximately $522,000.

Other hedge funds have also recently made changes to their positions in the company. Rhumbline Advisers boosted its holdings in Boyd Gaming by 1.0% in the fourth quarter. Rhumbline Advisers now owns 185,714 shares of the company’s stock valued at $13,472,000 after acquiring an additional 1,797 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Boyd Gaming in the 4th quarter worth about $43,273,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Boyd Gaming by 226.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 202,824 shares of the company’s stock valued at $14,569,000 after purchasing an additional 140,707 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Boyd Gaming by 20.7% during the 4th quarter. Truist Financial Corp now owns 4,458 shares of the company’s stock valued at $323,000 after purchasing an additional 765 shares in the last quarter. Finally, GC Wealth Management RIA LLC purchased a new position in shares of Boyd Gaming during the fourth quarter valued at about $307,000. 76.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Boyd Gaming

In other news, Director Christine J. Spadafor sold 1,125 shares of Boyd Gaming stock in a transaction 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 transaction, the director now owns 4,852 shares in the company, valued at $365,258.56. This trade represents a 18.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 27.94% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. raised their price objective 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. Mizuho decreased their target price on Boyd Gaming from $86.00 to $83.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Susquehanna lifted their price target on Boyd Gaming from $75.00 to $76.00 and gave the company a “positive” rating in a research report on Friday, April 25th. Macquarie reaffirmed a “neutral” rating and issued a $74.00 price target on shares of Boyd Gaming in a research note on Friday, April 25th. Finally, Stifel Nicolaus lowered their price objective on Boyd Gaming from $82.00 to $71.00 and set a “hold” rating for the company in a research report on Friday, April 25th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.69.

Boyd Gaming Stock Down 0.8%

Boyd Gaming stock opened at $74.05 on Wednesday. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 4.46 and a beta of 1.32. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. Boyd Gaming Co. has a 12 month low of $49.34 and a 12 month high of $80.50. The stock has a fifty day simple moving average of $68.09 and a two-hundred day simple moving average of $71.84.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.10. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. The firm had revenue of $991.57 million for the quarter, compared to the consensus estimate of $976.38 million. During the same quarter last year, the firm posted $1.51 EPS. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities analysts predict that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, June 16th. This represents a $0.72 annualized dividend and a dividend yield of 0.97%. Boyd Gaming’s payout ratio is 11.75%.

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.