Boyd Gaming Co. (NYSE:BYD) Shares Bought by LPL Financial LLC

LPL Financial LLC boosted its stake in Boyd Gaming Co. (NYSE:BYD) by 274.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 112,256 shares of the company’s stock after acquiring an additional 82,258 shares during the quarter. LPL Financial LLC’s holdings in Boyd Gaming were worth $8,143,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Boston Partners grew its stake in shares of Boyd Gaming by 36.9% during the 4th quarter. Boston Partners now owns 3,955,544 shares of the company’s stock valued at $287,185,000 after buying an additional 1,065,887 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Boyd Gaming in the 4th quarter worth about $43,273,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Boyd Gaming by 226.5% in 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. Sequoia Financial Advisors LLC acquired a new stake in Boyd Gaming during the 4th quarter worth approximately $6,066,000. Finally, Edgestream Partners L.P. raised its holdings in Boyd Gaming by 1,293.1% in the fourth quarter. Edgestream Partners L.P. now owns 67,900 shares of the company’s stock valued at $4,925,000 after buying an additional 63,026 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

Insider Activity

In related news, Director William R. Boyd sold 15,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total value of $1,189,800.00. Following the completion of the sale, the director now owns 1,472,970 shares of the company’s stock, valued at $116,835,980.40. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the sale, the chairman now owns 1,346,628 shares in the company, valued at $104,606,063.04. This trade represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,125 shares of company stock valued at $5,158,490. Insiders own 21.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays boosted their price objective on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Truist Financial lowered their target price on Boyd Gaming from $92.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. JPMorgan Chase & Co. increased their price objective on shares of Boyd Gaming from $74.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. JMP Securities restated a “market perform” rating on shares of Boyd Gaming in a research note on Friday, February 7th. Finally, Argus raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.00.

Boyd Gaming Stock Performance

Shares of BYD opened at $61.81 on Friday. The stock has a market capitalization of $5.10 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 4.46 and a beta of 1.55. Boyd Gaming Co. has a 12-month low of $49.34 and a 12-month high of $80.50. The business’s fifty day moving average price is $72.67 and its 200 day moving average price is $71.12. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data 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 net margin of 14.70% and a return on equity of 35.97%. Equities research analysts forecast that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.16%. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, March 17th. Boyd Gaming’s payout ratio is presently 11.58%.

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.