Optimize Financial Inc Invests $596,000 in Boyd Gaming Corporation $BYD

Optimize Financial Inc bought a new stake in shares of Boyd Gaming Corporation (NYSE:BYD) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,897 shares of the company’s stock, valued at approximately $596,000.

Several other institutional investors have also bought and sold shares of BYD. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Boyd Gaming by 219.8% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock valued at $29,000 after acquiring an additional 255 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after acquiring an additional 196 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Boyd Gaming in the second quarter valued at about $39,000. True Wealth Design LLC lifted its position in shares of Boyd Gaming by 162.1% during the third quarter. True Wealth Design LLC now owns 532 shares of the company’s stock valued at $46,000 after purchasing an additional 329 shares in the last quarter. Finally, SJS Investment Consulting Inc. bought a new position in shares of Boyd Gaming during the third quarter valued at about $48,000. Institutional investors own 76.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Boyd Gaming in a research report on Wednesday, December 24th. UBS Group set a $110.00 target price on Boyd Gaming in a research note on Wednesday, December 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Boyd Gaming in a research report on Monday, December 29th. Truist Financial set a $110.00 price target on Boyd Gaming in a report on Tuesday, January 13th. Finally, Citigroup initiated coverage on Boyd Gaming in a research report on Thursday, November 20th. They issued a “neutral” rating and a $86.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $92.08.

Boyd Gaming Trading Down 1.8%

NYSE:BYD opened at $83.01 on Wednesday. Boyd Gaming Corporation has a 12 month low of $58.94 and a 12 month high of $89.96. The company has a current ratio of 0.51, a quick ratio of 0.49 and a debt-to-equity ratio of 0.71. The firm’s 50 day moving average is $85.00 and its 200 day moving average is $83.83. The stock has a market capitalization of $6.48 billion, a PE ratio of 3.63, a price-to-earnings-growth ratio of 1.50 and a beta of 1.24.

Boyd Gaming Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were paid a dividend of $0.18 per share. The ex-dividend date was Monday, December 15th. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. Boyd Gaming’s dividend payout ratio is presently 3.15%.

Insider Buying and Selling at Boyd Gaming

In related news, Director William R. Boyd sold 20,000 shares of Boyd Gaming stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $80.36, for a total value of $1,607,200.00. Following the completion of the sale, the director owned 1,960,447 shares of the company’s stock, valued at approximately $157,541,520.92. This trade represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 21.97% of the company’s stock.

About Boyd Gaming

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.