Oppenheimer Asset Management Inc. Has $638,000 Stock Holdings in Boyd Gaming Co. (NYSE:BYD)

Oppenheimer Asset Management Inc. lowered its position in shares of Boyd Gaming Co. (NYSE:BYD) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,793 shares of the company’s stock after selling 179 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Boyd Gaming were worth $638,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. UMB Bank n.a. raised its stake in shares of Boyd Gaming by 80.3% during the 4th quarter. UMB Bank n.a. now owns 393 shares of the company’s stock worth $29,000 after purchasing an additional 175 shares in the last quarter. GAMMA Investing LLC raised its stake in Boyd Gaming by 47.4% in the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock valued at $33,000 after acquiring an additional 148 shares during the period. Covestor Ltd raised its stake in Boyd Gaming by 54.9% in the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock valued at $38,000 after acquiring an additional 208 shares during the period. Quarry LP raised its stake in Boyd Gaming by 150.1% in the 3rd quarter. Quarry LP now owns 873 shares of the company’s stock valued at $56,000 after acquiring an additional 524 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in Boyd Gaming by 921.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock valued at $57,000 after acquiring an additional 802 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BYD. Truist Financial increased their price target on Boyd Gaming from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Mizuho upped their price objective on Boyd Gaming from $79.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Jefferies Financial Group raised Boyd Gaming from a “hold” rating to a “buy” rating and increased their target price for the stock from $73.00 to $92.00 in a report on Friday, January 3rd. JMP Securities reissued a “market perform” rating on shares of Boyd Gaming in a report on Friday, February 7th. Finally, Susquehanna raised their price objective on Boyd Gaming from $69.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.20.

Insiders Place Their Bets

In other news, Director William R. Boyd sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total value of $1,189,800.00. Following the completion of the transaction, the director now owns 1,472,970 shares in the company, valued at $116,835,980.40. This trade represents a 1.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of Boyd Gaming stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total value of $3,884,000.00. Following the transaction, the chairman now owns 1,346,628 shares of the company’s stock, valued at $104,606,063.04. The trade was a 3.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,785 shares of company stock worth $5,208,439. 27.94% of the stock is currently owned by company insiders.

Boyd Gaming Trading Up 1.4 %

NYSE BYD opened at $73.34 on Thursday. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $80.50. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. The stock has a 50-day moving average of $75.23 and a 200-day moving average of $69.96. The firm has a market cap of $6.14 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 4.46 and a beta of 1.54.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, February 6th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. As a group, sell-side analysts forecast that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a $0.18 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.72 annualized dividend and a yield of 0.98%. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.17. Boyd Gaming’s dividend payout ratio (DPR) is 11.58%.

Boyd Gaming announced that its board has approved a share buyback program on Thursday, December 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 7.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

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.