Burns Matteson Capital Management LLC Acquires New Holdings in Boyd Gaming Co. (NYSE:BYD)

Burns Matteson Capital Management LLC acquired a new position in shares of Boyd Gaming Co. (NYSE:BYD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,407 shares of the company’s stock, valued at approximately $392,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its position in shares of Boyd Gaming by 219.0% during the fourth quarter. Empowered Funds LLC now owns 29,998 shares of the company’s stock worth $2,176,000 after acquiring an additional 20,593 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Boyd Gaming in the 4th quarter valued at approximately $67,000. Hantz Financial Services Inc. boosted its position in Boyd Gaming by 30.2% during the 4th quarter. Hantz Financial Services Inc. now owns 20,824 shares of the company’s stock worth $1,511,000 after acquiring an additional 4,828 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Boyd Gaming in the fourth quarter valued at approximately $156,000. Finally, Mount Yale Investment Advisors LLC boosted its holdings in Boyd Gaming by 13.8% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 4,320 shares of the company’s stock worth $313,000 after purchasing an additional 523 shares during the last quarter. 76.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Boyd Gaming from $74.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Truist Financial upped their target price on shares of Boyd Gaming from $85.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Stifel Nicolaus upped their price objective on Boyd Gaming from $74.00 to $82.00 and gave the company a “hold” rating in a research note on Friday. JMP Securities reiterated a “market perform” rating on shares of Boyd Gaming in a report on Friday. Finally, Mizuho lifted 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. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.00.

Boyd Gaming Stock Down 1.9 %

Shares of NYSE BYD opened at $77.09 on Monday. 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 52 week low of $49.34 and a 52 week high of $80.50. The stock has a market capitalization of $6.81 billion, a P/E ratio of 12.39, a PEG ratio of 4.38 and a beta of 1.54. The stock’s fifty day moving average is $74.10 and its 200 day moving average is $67.61.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts forecast that Boyd Gaming Co. will post 6.57 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Monday, December 16th. Boyd Gaming’s payout ratio is 10.93%.

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

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, CEO Keith Smith sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $72.15, for a total value of $2,164,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,101,202 shares in the company, valued at approximately $79,451,724.30. This represents a 2.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christine J. Spadafor sold 660 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $75.68, for a total transaction of $49,948.80. Following the transaction, the director now directly owns 5,977 shares of the company’s stock, valued at $452,339.36. The trade was a 9.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,660 shares of company stock valued at $7,307,149. 27.94% of the stock is currently owned by insiders.

Boyd Gaming Company 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.