CX Institutional Has $982,000 Position in Boyd Gaming Co. (NYSE:BYD)

CX Institutional lowered its holdings in Boyd Gaming Co. (NYSE:BYD) by 16.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,544 shares of the company’s stock after selling 2,631 shares during the quarter. CX Institutional’s holdings in Boyd Gaming were worth $982,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. UMB Bank n.a. grew its position in Boyd Gaming by 80.3% in the 4th quarter. UMB Bank n.a. now owns 393 shares of the company’s stock valued at $29,000 after purchasing an additional 175 shares during the period. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 148 shares during the last quarter. Covestor Ltd boosted its holdings in Boyd Gaming by 54.9% during the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after acquiring an additional 208 shares during the last quarter. Quarry LP boosted its holdings in Boyd Gaming by 150.1% during the 3rd quarter. Quarry LP now owns 873 shares of the company’s stock worth $56,000 after acquiring an additional 524 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Boyd Gaming by 921.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock worth $57,000 after acquiring an additional 802 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

Boyd Gaming Stock Performance

Shares of BYD stock opened at $75.34 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $76.73. The stock has a 50 day moving average price of $73.21 and a two-hundred day moving average price of $66.23. The company has a market capitalization of $6.66 billion, a P/E ratio of 14.38, a PEG ratio of 4.21 and a beta of 1.54.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were given a $0.17 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.68 annualized dividend and a yield of 0.90%. Boyd Gaming’s payout ratio is currently 12.98%.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Boyd Gaming from $74.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday. Morgan Stanley lifted their price objective on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. StockNews.com raised shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Stifel Nicolaus lifted their target price on Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, Barclays lifted their target price on Boyd Gaming from $71.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boyd Gaming currently has a consensus rating of “Moderate Buy” and an average target price of $92.80.

Insider Buying and Selling at Boyd Gaming

In related news, Director Christine J. Spadafor sold 660 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $75.68, for a total transaction of $49,948.80. Following the completion of the transaction, the director now owns 5,977 shares in the company, valued at $452,339.36. This represents a 9.94 % 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, CEO Keith Smith sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $73.49, for a total value of $2,939,600.00. Following the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,364 shares of company stock worth $10,590,893. 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.