QRG Capital Management Inc. grew its holdings in shares of Boyd Gaming Co. (NYSE:BYD – Free Report) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,363 shares of the company’s stock after buying an additional 327 shares during the period. QRG Capital Management Inc.’s holdings in Boyd Gaming were worth $711,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Parkside Financial Bank & Trust grew its holdings in Boyd Gaming by 105.5% in 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 during the period. Rakuten Securities Inc. purchased a new stake in shares of Boyd Gaming in the 4th quarter worth approximately $30,000. Principal Securities Inc. bought a new position in Boyd Gaming during the 4th quarter valued at approximately $50,000. Allworth Financial LP raised its stake in Boyd Gaming by 3,333.3% during the fourth quarter. Allworth Financial LP now owns 1,030 shares of the company’s stock valued at $64,000 after buying an additional 1,000 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Boyd Gaming by 20,342.9% in the fourth quarter. Blue Trust Inc. now owns 1,431 shares of the company’s stock worth $87,000 after acquiring an additional 1,424 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors.
Boyd Gaming Price Performance
Shares of NYSE:BYD opened at $55.01 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $5.22 billion, a PE ratio of 9.88 and a beta of 1.64. The firm’s 50 day moving average price is $61.17 and its 200-day moving average price is $61.56. Boyd Gaming Co. has a twelve month low of $52.42 and a twelve month high of $73.00.
Boyd Gaming (NYSE:BYD – Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.06). Boyd Gaming had a return on equity of 34.76% and a net margin of 14.91%. The business had revenue of $960.52 million during the quarter, compared to the consensus estimate of $947.26 million. Equities research analysts expect that Boyd Gaming Co. will post 6.06 EPS for the current year.
Boyd Gaming declared that its Board of Directors has approved a share repurchase plan on Monday, May 13th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 9.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
Boyd Gaming Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Saturday, June 15th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.68 annualized dividend and a yield of 1.24%. Boyd Gaming’s dividend payout ratio (DPR) is presently 12.21%.
Insider Buying and Selling at Boyd Gaming
In other news, major shareholder William S. Boyd sold 125,000 shares of Boyd Gaming stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $63.77, for a total transaction of $7,971,250.00. Following the transaction, the insider now directly owns 9,358,913 shares of the company’s stock, valued at approximately $596,817,882.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder William S. Boyd sold 125,000 shares of Boyd Gaming stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $63.77, for a total transaction of $7,971,250.00. Following the transaction, the insider now owns 9,358,913 shares in the company, valued at approximately $596,817,882.01. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP William R. Boyd sold 50,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $64.04, for a total value of $3,202,000.00. Following the sale, the vice president now owns 1,617,970 shares of the company’s stock, valued at approximately $103,614,798.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 463,618 shares of company stock valued at $29,564,319. Company insiders own 27.94% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on BYD shares. Mizuho dropped their price target on shares of Boyd Gaming from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Truist Financial reduced their price target on shares of Boyd Gaming from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Stifel Nicolaus cut their target price on Boyd Gaming from $71.00 to $65.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft cut Boyd Gaming from a “buy” rating to a “hold” rating and decreased their price target for the stock from $78.00 to $71.00 in a research note on Friday, April 26th. Finally, Argus cut Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $93.64.
Check Out Our Latest Stock Report on BYD
Boyd Gaming Profile
(Free Report)
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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