Boyd Gaming Co. (NYSE:BYD) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lowered its position in Boyd Gaming Co. (NYSE:BYD) by 9.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,500 shares of the company’s stock after selling 14,800 shares during the period. Gabelli Funds LLC’s holdings in Boyd Gaming were worth $9,829,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BYD. UMB Bank n.a. grew its holdings in Boyd Gaming by 80.3% in the fourth quarter. UMB Bank n.a. now owns 393 shares of the company’s stock valued at $29,000 after purchasing an additional 175 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Boyd Gaming by 47.4% in the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock worth $33,000 after buying an additional 148 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Boyd Gaming in the 3rd quarter valued at about $64,000. Golden State Wealth Management LLC purchased a new position in Boyd Gaming during the 4th quarter valued at about $67,000. Finally, Investment Counsel Co. of Nevada acquired a new position in Boyd Gaming during the fourth quarter worth about $73,000. 76.81% of the stock is owned by hedge funds and other institutional investors.

Boyd Gaming Price Performance

Shares of Boyd Gaming stock opened at $64.86 on Thursday. The stock has a market capitalization of $5.35 billion, a P/E ratio of 10.43, a PEG ratio of 4.46 and a beta of 1.31. 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 business’s fifty day moving average price is $70.10 and its 200 day moving average price is $71.02. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $80.50.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate 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, research analysts anticipate that Boyd Gaming Co. will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were paid a dividend of $0.18 per share. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.11%. The ex-dividend date was Monday, March 17th. Boyd Gaming’s payout ratio is currently 11.58%.

Insider Transactions at Boyd Gaming

In other news, Director Christine J. Spadafor sold 1,125 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $75.28, for a total value of $84,690.00. Following the completion of the sale, the director now owns 4,852 shares of the company’s stock, valued at $365,258.56. This represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the stock in a transaction dated 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 completion of the sale, the chairman now owns 1,346,628 shares of the company’s stock, valued at approximately $104,606,063.04. This trade represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,125 shares of company stock valued at $5,158,490 over the last 90 days. Corporate insiders own 27.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BYD. Susquehanna lowered their price target on shares of Boyd Gaming from $77.00 to $75.00 and set a “positive” rating on the stock in a research report on Wednesday. Truist Financial dropped their price target on Boyd Gaming from $92.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. StockNews.com downgraded Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th. Mizuho lifted their price objective on Boyd Gaming from $79.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Jefferies Financial Group upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and upped their target price for the company from $73.00 to $92.00 in a report on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.27.

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.