Summit Investment Advisors Inc. Acquires 4,558 Shares of Boyd Gaming Co. (NYSE:BYD)

Summit Investment Advisors Inc. raised its holdings in Boyd Gaming Co. (NYSE:BYD) by 12.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,678 shares of the company’s stock after purchasing an additional 4,558 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Boyd Gaming were worth $2,951,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Boston Partners raised its stake in shares of Boyd Gaming by 36.9% in the fourth quarter. Boston Partners now owns 3,955,544 shares of the company’s stock worth $287,185,000 after acquiring an additional 1,065,887 shares during the last quarter. Norges Bank bought a new stake in shares of Boyd Gaming during the fourth quarter valued at approximately $55,553,000. Raymond James Financial Inc. acquired a new stake in shares of Boyd Gaming in the fourth quarter valued at approximately $43,273,000. Arrowstreet Capital Limited Partnership raised its position in Boyd Gaming by 51.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company’s stock worth $94,074,000 after purchasing an additional 441,963 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Boyd Gaming by 37.2% during the 4th quarter. Franklin Resources Inc. now owns 964,051 shares of the company’s stock worth $69,932,000 after buying an additional 261,443 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several research firms have recently commented on BYD. Morgan Stanley cut 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. Barclays lifted their price objective on Boyd Gaming from $74.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Truist Financial cut their target price on shares of Boyd Gaming from $92.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Mizuho lifted their price target on shares of Boyd Gaming from $79.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Susquehanna upgraded shares of Boyd Gaming from a “neutral” rating to a “positive” rating and cut their price objective for the company from $79.00 to $77.00 in a report on Wednesday, March 12th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

Boyd Gaming Stock Performance

Shares of Boyd Gaming stock opened at $64.55 on Monday. Boyd Gaming Co. has a 12 month low of $49.34 and a 12 month high of $80.50. 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 PEG ratio of 4.46 and a beta of 1.31. The stock’s fifty day simple moving average is $70.85 and its 200 day simple moving average is $71.10.

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

Boyd Gaming Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a dividend of $0.18 per share. This is an increase 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 annualized dividend and a dividend yield of 1.12%. Boyd Gaming’s dividend payout ratio is currently 11.58%.

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.