LSV Asset Management Makes New $5.16 Million Investment in Boyd Gaming Co. (NYSE:BYD)

LSV Asset Management acquired a new stake in shares of Boyd Gaming Co. (NYSE:BYD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 71,100 shares of the company’s stock, valued at approximately $5,158,000. LSV Asset Management owned 0.08% of Boyd Gaming at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Boyd Gaming during the 4th quarter valued at $43,273,000. Renaissance Technologies LLC boosted its stake in shares of Boyd Gaming by 398.3% during the 4th quarter. Renaissance Technologies LLC now owns 60,300 shares of the company’s stock worth $4,374,000 after purchasing an additional 48,200 shares during the period. Invesco Ltd. grew its holdings in Boyd Gaming by 27.5% during the 4th quarter. Invesco Ltd. now owns 468,136 shares of the company’s stock valued at $33,959,000 after purchasing an additional 101,029 shares during the last quarter. Bank of Montreal Can grew its holdings in Boyd Gaming by 9.8% during the 4th quarter. Bank of Montreal Can now owns 9,079 shares of the company’s stock valued at $659,000 after purchasing an additional 813 shares during the last quarter. Finally, Aristides Capital LLC purchased a new position in shares of Boyd Gaming during the fourth quarter valued at approximately $325,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Susquehanna raised Boyd Gaming from a “neutral” rating to a “positive” rating and decreased their price target for the stock from $79.00 to $77.00 in a research note on Wednesday, March 12th. Morgan Stanley lowered shares of Boyd Gaming from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $82.00 to $81.00 in a research note on Monday, February 24th. Truist Financial reduced their price target on shares of Boyd Gaming from $92.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Argus raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Tuesday, December 17th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Boyd Gaming in a research report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Boyd Gaming currently has a consensus rating of “Moderate Buy” and an average target price of $95.00.

Boyd Gaming Trading Up 0.4 %

Shares of NYSE:BYD opened at $64.55 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $5.33 billion, a PE ratio of 10.38, a P/E/G ratio of 4.46 and a beta of 1.31. Boyd Gaming Co. has a 12-month low of $49.34 and a 12-month high of $80.50. The business’s fifty day simple moving average is $70.85 and its 200-day simple moving average is $71.10.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, February 6th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. As a group, equities research analysts predict that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a dividend of $0.18 per share. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.72 dividend on an annualized basis and a yield of 1.12%. Boyd Gaming’s dividend payout ratio is presently 11.58%.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total value of $3,884,000.00. Following the completion of the sale, the chairman now owns 1,346,628 shares of the company’s stock, valued at approximately $104,606,063.04. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christine J. Spadafor sold 1,125 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were 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 in the company, valued at approximately $365,258.56. This trade represents a 18.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,125 shares of company stock worth $5,158,490 over the last three months. Corporate insiders own 27.94% of the company’s stock.

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.