Boyd Gaming Co. (NYSE:BYD) Stock Position Lowered by Corient Private Wealth LLC

Corient Private Wealth LLC lowered its stake in Boyd Gaming Co. (NYSE:BYD) by 14.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,258 shares of the company’s stock after selling 911 shares during the quarter. Corient Private Wealth LLC’s holdings in Boyd Gaming were worth $381,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in BYD. UMB Bank n.a. boosted its holdings in Boyd Gaming by 80.3% during the fourth quarter. UMB Bank n.a. now owns 393 shares of the company’s stock valued at $29,000 after acquiring an additional 175 shares during the period. GAMMA Investing LLC raised its stake in Boyd Gaming by 47.4% during the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock worth $33,000 after acquiring an additional 148 shares in the last quarter. Quarry LP boosted its position in Boyd Gaming by 150.1% in the third quarter. Quarry LP now owns 873 shares of the company’s stock valued at $56,000 after buying an additional 524 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Boyd Gaming during the 3rd quarter valued at $64,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Boyd Gaming in the fourth quarter valued at $67,000. Institutional investors and hedge funds own 76.81% of the company’s stock.

Boyd Gaming Stock Down 2.2 %

Shares of NYSE BYD opened at $66.25 on Monday. The business has a 50-day simple moving average of $73.73 and a two-hundred day simple moving average of $71.06. Boyd Gaming Co. has a 52 week low of $49.34 and a 52 week high of $80.50. The company has a market cap of $5.47 billion, a P/E ratio of 10.65, a P/E/G ratio of 4.46 and a beta of 1.55. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results 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%. Research analysts anticipate that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.09%. Boyd Gaming’s dividend payout ratio (DPR) is 11.58%.

Boyd Gaming declared that its Board of Directors has initiated a share repurchase plan on Thursday, December 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

BYD has been the topic of several recent research reports. Wells Fargo & Company raised their price target on Boyd Gaming from $82.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, February 7th. StockNews.com cut Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th. Morgan Stanley cut Boyd Gaming from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $82.00 to $81.00 in a research report on Monday, February 24th. Truist Financial lifted their price target on shares of Boyd Gaming from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Finally, Mizuho boosted their target price on shares of Boyd Gaming from $79.00 to $86.00 and gave the stock an “outperform” rating in a 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.20.

Insider Transactions at Boyd Gaming

In related news, Director Christine J. Spadafor sold 1,125 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $75.28, for a total transaction of $84,690.00. Following the completion of the transaction, the director now owns 4,852 shares in the company, valued at $365,258.56. This represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the completion of the sale, the chairman now directly owns 1,346,628 shares of the company’s stock, valued at approximately $104,606,063.04. This represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,125 shares of company stock worth $5,158,490. 27.94% of the stock is currently owned by insiders.

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.