Venturi Wealth Management LLC Purchases 434 Shares of Boyd Gaming Co. (NYSE:BYD)

Venturi Wealth Management LLC raised its position in shares of Boyd Gaming Co. (NYSE:BYD) by 85.3% in the third quarter, HoldingsChannel reports. The firm owned 943 shares of the company’s stock after buying an additional 434 shares during the quarter. Venturi Wealth Management LLC’s holdings in Boyd Gaming were worth $61,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in Boyd Gaming by 57.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after buying an additional 189 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Boyd Gaming in the 1st quarter worth $222,000. Russell Investments Group Ltd. raised its holdings in Boyd Gaming by 17.2% in the 1st quarter. Russell Investments Group Ltd. now owns 231,681 shares of the company’s stock worth $15,597,000 after purchasing an additional 34,083 shares during the period. Covestor Ltd lifted its position in Boyd Gaming by 132.6% during the first quarter. Covestor Ltd now owns 1,742 shares of the company’s stock valued at $117,000 after purchasing an additional 993 shares in the last quarter. Finally, Seven Eight Capital LP bought a new stake in Boyd Gaming during the first quarter valued at about $930,000. 76.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $60.36, for a total value of $74,967.12. Following the completion of the transaction, the director now owns 1,096 shares in the company, valued at approximately $66,154.56. This trade represents a 53.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Keith Smith sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $73.49, for a total value of $2,939,600.00. Following the sale, the chief executive officer now owns 1,161,202 shares in the company, valued at approximately $85,336,734.98. This trade represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 161,076 shares of company stock worth $10,702,931. Insiders own 27.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. StockNews.com raised shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Mizuho reissued an “outperform” rating and issued a $79.00 price objective (up from $78.00) on shares of Boyd Gaming in a research note on Friday, October 25th. Morgan Stanley lifted their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. increased their price target on Boyd Gaming from $68.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.38.

Boyd Gaming Price Performance

Shares of Boyd Gaming stock opened at $72.43 on Friday. 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 $74.78. The stock has a 50 day moving average of $65.99 and a 200 day moving average of $59.39. The firm has a market cap of $6.40 billion, a PE ratio of 13.82, a PEG ratio of 9.60 and a beta of 1.55.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Sunday, September 15th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend was Friday, September 13th. Boyd Gaming’s dividend payout ratio (DPR) is presently 12.98%.

Boyd Gaming 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.