Boyd Gaming Co. (NYSE:BYD) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in Boyd Gaming Co. (NYSE:BYDGet Rating) by 36.0% in the third quarter, HoldingsChannel.com reports. The fund owned 41,421 shares of the company’s stock after buying an additional 10,970 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Boyd Gaming were worth $1,973,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BYD. HighTower Advisors LLC boosted its stake in Boyd Gaming by 9.3% in the first quarter. HighTower Advisors LLC now owns 8,539 shares of the company’s stock valued at $560,000 after acquiring an additional 725 shares during the period. Citigroup Inc. boosted its position in shares of Boyd Gaming by 1.4% during the first quarter. Citigroup Inc. now owns 42,226 shares of the company’s stock worth $2,778,000 after buying an additional 567 shares during the period. Bank of Montreal Can boosted its position in shares of Boyd Gaming by 24.3% during the first quarter. Bank of Montreal Can now owns 10,255 shares of the company’s stock worth $689,000 after buying an additional 2,002 shares during the period. MetLife Investment Management LLC boosted its position in shares of Boyd Gaming by 35.4% during the first quarter. MetLife Investment Management LLC now owns 53,822 shares of the company’s stock worth $3,540,000 after buying an additional 14,078 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Boyd Gaming by 2.3% during the first quarter. Rhumbline Advisers now owns 221,735 shares of the company’s stock worth $14,586,000 after buying an additional 4,888 shares during the period. 68.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Susquehanna boosted their price objective on Boyd Gaming from $68.00 to $72.00 in a research report on Wednesday, October 26th. StockNews.com upgraded Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 27th. Susquehanna Bancshares upped their target price on Boyd Gaming from $68.00 to $72.00 in a research report on Wednesday, October 26th. JMP Securities downgraded Boyd Gaming from an “outperform” rating to a “market perform” rating in a research report on Monday, December 12th. Finally, Truist Financial upped their target price on Boyd Gaming from $79.00 to $80.00 in a research report on Wednesday, January 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.53.

Boyd Gaming Price Performance

NYSE BYD opened at $58.46 on Friday. The stock has a market capitalization of $6.10 billion, a P/E ratio of 11.24, a P/E/G ratio of 0.93 and a beta of 1.83. Boyd Gaming Co. has a 1 year low of $46.10 and a 1 year high of $72.72. The business’s fifty day moving average is $57.83 and its two-hundred day moving average is $55.15. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.72 and a current ratio of 0.76.

Boyd Gaming (NYSE:BYDGet Rating) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.20. Boyd Gaming had a return on equity of 41.21% and a net margin of 16.41%. The company had revenue of $877.26 million for the quarter, compared to analysts’ expectations of $859.03 million. During the same quarter in the prior year, the company earned $1.30 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. On average, research analysts forecast that Boyd Gaming Co. will post 5.77 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, January 15th. Shareholders of record on Monday, December 19th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.03%. The ex-dividend date was Friday, December 16th. Boyd Gaming’s dividend payout ratio (DPR) is currently 11.54%.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, insider Marianne Boyd Johnson sold 100,000 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $57.94, for a total transaction of $5,794,000.00. Following the sale, the insider now directly owns 1,680,774 shares of the company’s stock, valued at approximately $97,384,045.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP William R. Boyd sold 50,000 shares of Boyd Gaming stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $55.58, for a total transaction of $2,779,000.00. Following the completion of the sale, the vice president now directly owns 1,744,522 shares in the company, valued at approximately $96,960,532.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Marianne Boyd Johnson sold 100,000 shares of Boyd Gaming stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $57.94, for a total value of $5,794,000.00. Following the sale, the insider now owns 1,680,774 shares of the company’s stock, valued at $97,384,045.56. The disclosure for this sale can be found here. Insiders have sold a total of 605,286 shares of company stock valued at $35,316,575 in the last three months. 28.41% of the stock is currently owned by company insiders.

About Boyd Gaming

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Boyd Gaming Corp. engages in the management and operation of gaming and entertainment properties. It operates through the following segments: Las Vegas Locals, Downtown Las Vegas and Midwest & South. The Las Vegas Locals segment consists of casinos that serve the resident population of the Las Vegas metropolitan area.

Further Reading

Want to see what other hedge funds are holding BYD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boyd Gaming Co. (NYSE:BYDGet Rating).

Institutional Ownership by Quarter for Boyd Gaming (NYSE:BYD)

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