AlphaMark Advisors LLC Boosts Holdings in Boyd Gaming Co. (NYSE:BYD)

AlphaMark Advisors LLC lifted its position in shares of Boyd Gaming Co. (NYSE:BYD) by 5.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,979 shares of the company’s stock after buying an additional 450 shares during the period. AlphaMark Advisors LLC’s holdings in Boyd Gaming were worth $651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in BYD. State Street Corp increased its stake in Boyd Gaming by 0.8% during the third quarter. State Street Corp now owns 2,108,672 shares of the company’s stock worth $136,680,000 after acquiring an additional 17,591 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Boyd Gaming by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,153,768 shares of the company’s stock worth $74,611,000 after purchasing an additional 33,379 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Boyd Gaming by 5.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 971,921 shares of the company’s stock worth $62,835,000 after purchasing an additional 54,128 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Boyd Gaming by 6,158.8% in the 3rd quarter. Victory Capital Management Inc. now owns 908,905 shares of the company’s stock valued at $58,761,000 after buying an additional 894,383 shares during the period. Finally, Pinnacle Associates Ltd. lifted its position in Boyd Gaming by 2.4% in the third quarter. Pinnacle Associates Ltd. now owns 679,178 shares of the company’s stock valued at $42,523,000 after buying an additional 16,159 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Boyd Gaming from $77.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. JMP Securities reissued a “market perform” rating on shares of Boyd Gaming in a research report on Thursday, January 16th. Barclays raised their price target on Boyd Gaming from $71.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on Boyd Gaming from $74.00 to $80.00 and gave the company a “neutral” rating in a report on Friday. Finally, Mizuho restated an “outperform” rating and set a $79.00 target price (up from $78.00) on shares of Boyd Gaming in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.80.

Insider Activity at Boyd Gaming

In other news, Director William R. Boyd sold 25,155 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $69.35, for a total transaction of $1,744,499.25. Following the completion of the sale, the director now owns 1,487,970 shares in the company, valued at approximately $103,190,719.50. The trade was a 1.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christine J. Spadafor sold 660 shares of the company’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 completion of the transaction, the director now owns 5,977 shares of the company’s stock, valued at approximately $452,339.36. The trade was a 9.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,364 shares of company stock valued at $10,590,893 over the last quarter. 27.94% of the stock is owned by insiders.

Boyd Gaming Stock Down 0.1 %

Shares of Boyd Gaming stock opened at $75.34 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. Boyd Gaming Co. has a 52-week low of $49.34 and a 52-week high of $76.73. The company has a market capitalization of $6.66 billion, a P/E ratio of 14.38, a P/E/G ratio of 4.21 and a beta of 1.54. The company has a 50 day moving average of $73.21 and a 200 day moving average of $66.23.

Boyd Gaming Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.90%. Boyd Gaming’s payout ratio is currently 12.98%.

Boyd Gaming announced that its Board of Directors has authorized a share repurchase plan on Thursday, December 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.