GeoWealth Management LLC Acquires 1,678 Shares of Boyd Gaming Co. (NYSE:BYD)

by · The Markets Daily

GeoWealth Management LLC grew its holdings in shares of Boyd Gaming Co. (NYSE:BYD – Free Report) by 60.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,473 shares of the company’s stock after acquiring an additional 1,678 shares during the period. GeoWealth Management LLC’s holdings in Boyd Gaming were worth $324,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Boston Partners raised its position in Boyd Gaming by 36.9% during the 4th quarter. Boston Partners now owns 3,955,544 shares of the company’s stock worth $287,185,000 after purchasing an additional 1,065,887 shares during the last quarter. Norges Bank acquired a new stake in shares of Boyd Gaming in the fourth quarter valued at about $55,553,000. Raymond James Financial Inc. acquired a new stake in shares of Boyd Gaming in the fourth quarter valued at about $43,273,000. Arrowstreet Capital Limited Partnership raised its position in shares of Boyd Gaming by 51.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company’s stock worth $94,074,000 after acquiring an additional 441,963 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Boyd Gaming by 37.2% in the fourth quarter. Franklin Resources Inc. now owns 964,051 shares of the company’s stock worth $69,932,000 after acquiring an additional 261,443 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

Boyd Gaming Stock Up 3.3 %

Shares of NYSE BYD opened at $65.83 on Wednesday. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. The company has a 50-day moving average price of $69.08 and a 200-day moving average price of $71.08. The stock has a market capitalization of $5.43 billion, a P/E ratio of 10.58, a P/E/G ratio of 4.46 and a beta of 1.31. Boyd Gaming Co. has a 1 year low of $49.34 and a 1 year high of $80.50.

Boyd Gaming (NYSE:BYD – Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.96 EPS for the quarter, topping 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%. On average, equities research analysts forecast that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were given a $0.18 dividend. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Monday, March 17th. Boyd Gaming’s dividend payout ratio is presently 11.58%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target 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. StockNews.com lowered shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 27th. JMP Securities reiterated a “market perform” rating on shares of Boyd Gaming in a report on Friday, February 7th. Barclays lowered their price objective on Boyd Gaming from $78.00 to $73.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Mizuho upped their target price on Boyd Gaming from $79.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.93.

Get Our Latest Stock Analysis on BYD

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 50,000 shares of Boyd Gaming stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total transaction 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. This trade represents a 3.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christine J. Spadafor sold 1,125 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $75.28, for a total value of $84,690.00. Following the completion of the transaction, the director now directly owns 4,852 shares of the company’s stock, valued at approximately $365,258.56. This represents a 18.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,125 shares of company stock worth $5,158,490. Corporate insiders own 27.94% of the company’s stock.

About Boyd Gaming

(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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