Covestor Ltd Acquires 208 Shares of Boyd Gaming Co. (NYSE:BYD)

Covestor Ltd raised its position in shares of Boyd Gaming Co. (NYSE:BYD) by 54.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 587 shares of the company’s stock after acquiring an additional 208 shares during the period. Covestor Ltd’s holdings in Boyd Gaming were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Seven Eight Capital LP purchased a new stake in Boyd Gaming in the first quarter worth $930,000. Comerica Bank raised its stake in Boyd Gaming by 103.1% in the first quarter. Comerica Bank now owns 42,898 shares of the company’s stock valued at $2,888,000 after buying an additional 21,772 shares during the last quarter. Sei Investments Co. raised its stake in Boyd Gaming by 24.7% in the second quarter. Sei Investments Co. now owns 497,331 shares of the company’s stock valued at $27,403,000 after buying an additional 98,508 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Boyd Gaming by 11,891.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 62,117 shares of the company’s stock worth $4,016,000 after purchasing an additional 61,599 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Boyd Gaming in the second quarter worth about $730,000. 76.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Wells Fargo & Company raised their price objective on Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Morgan Stanley lifted their target price on Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Bank of America lifted their target price on Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. lifted their target price on Boyd Gaming from $68.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boyd Gaming currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.38.

Insider Buying and Selling

In other news, CEO Keith Smith sold 40,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $73.49, for a total transaction of $2,939,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,161,202 shares of the company’s stock, valued at approximately $85,336,734.98. This represents a 3.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $60.23, for a total value of $4,404,619.90. Following the completion of the sale, the chairman now directly owns 1,423,498 shares of the company’s stock, valued at approximately $85,737,284.54. This trade represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 161,076 shares of company stock valued at $10,702,931 in the last three months. 27.94% of the stock is owned by corporate insiders.

Boyd Gaming Trading Down 0.8 %

BYD opened at $72.43 on Friday. Boyd Gaming Co. has a 12 month low of $49.34 and a 12 month high of $74.78. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 9.60 and a beta of 1.55. 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 business has a fifty day moving average price of $65.99 and a 200 day moving average price of $59.39.

Boyd Gaming Announces Dividend

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

About Boyd Gaming

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.