Boston Partners Has $287.19 Million Stock Position in Boyd Gaming Co. (NYSE:BYD)

Boston Partners lifted its holdings in shares of Boyd Gaming Co. (NYSE:BYD) by 36.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,955,544 shares of the company’s stock after purchasing an additional 1,065,887 shares during the quarter. Boston Partners owned approximately 4.48% of Boyd Gaming worth $287,185,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. UMB Bank n.a. increased its stake in shares of Boyd Gaming by 80.3% during the 4th quarter. UMB Bank n.a. now owns 393 shares of the company’s stock worth $29,000 after purchasing an additional 175 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Boyd Gaming by 47.4% during the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 148 shares during the last quarter. Quarry LP grew its stake in Boyd Gaming by 150.1% in the 3rd quarter. Quarry LP now owns 873 shares of the company’s stock valued at $56,000 after buying an additional 524 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Boyd Gaming in the 3rd quarter valued at $64,000. Finally, Golden State Wealth Management LLC acquired a new position in Boyd Gaming in the 4th quarter valued at $67,000. Institutional investors and hedge funds own 76.81% of the company’s stock.

Insider Activity

In other news, Director William R. Boyd sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total value of $1,189,800.00. Following the completion of the transaction, the director now owns 1,472,970 shares in the company, valued at $116,835,980.40. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christine J. Spadafor sold 1,125 shares of the stock in a transaction 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 transaction, the director now owns 4,852 shares of the company’s stock, valued at $365,258.56. The trade was a 18.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,125 shares of company stock worth $5,158,490 over the last quarter. 27.94% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BYD shares. Truist Financial raised their target price 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. Morgan Stanley downgraded shares of Boyd Gaming from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $82.00 to $81.00 in a report on Monday, February 24th. Wells Fargo & Company boosted their price objective on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Susquehanna upgraded shares of Boyd Gaming from a “neutral” rating to a “positive” rating and dropped their price objective for the stock from $79.00 to $77.00 in a report on Wednesday, March 12th. Finally, Stifel Nicolaus boosted their price objective on shares of Boyd Gaming from $74.00 to $82.00 and gave the stock a “hold” rating in a report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.20.

Boyd Gaming Trading Up 1.2 %

BYD opened at $69.33 on Tuesday. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $80.50. 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 company has a market cap of $5.81 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 4.46 and a beta of 1.55. The firm has a 50 day simple moving average of $74.56 and a 200 day simple moving average of $70.54.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, February 6th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. On average, sell-side analysts anticipate that Boyd Gaming Co. will post 6.52 earnings per share for the current year.

Boyd Gaming declared that its Board of Directors has approved a stock buyback program on Thursday, December 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 7.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Boyd Gaming Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.04%. 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. Boyd Gaming’s dividend payout ratio is presently 11.58%.

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.