Price T Rowe Associates Inc. MD Has $47.18 Million Stock Holdings in Boyd Gaming Co. (NYSE:BYD)

Price T Rowe Associates Inc. MD reduced its holdings in shares of Boyd Gaming Co. (NYSE:BYD) by 27.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 650,399 shares of the company’s stock after selling 247,967 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.74% of Boyd Gaming worth $47,181,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of Boyd Gaming by 47.4% in the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 148 shares during the last quarter. UMB Bank n.a. grew its holdings in Boyd Gaming by 80.3% during the fourth quarter. UMB Bank n.a. now owns 393 shares of the company’s stock worth $29,000 after buying an additional 175 shares in the last quarter. Cetera Trust Company N.A raised its position in Boyd Gaming by 6.2% in the 4th quarter. Cetera Trust Company N.A now owns 3,535 shares of the company’s stock valued at $256,000 after buying an additional 205 shares during the last quarter. US Bancorp DE lifted its stake in Boyd Gaming by 13.6% during the 4th quarter. US Bancorp DE now owns 2,943 shares of the company’s stock valued at $213,000 after acquiring an additional 353 shares in the last quarter. Finally, Keybank National Association OH lifted its stake in Boyd Gaming by 2.6% during the 4th quarter. Keybank National Association OH now owns 14,039 shares of the company’s stock valued at $1,018,000 after acquiring an additional 362 shares in the last quarter. 76.81% of the stock is owned by institutional investors.

Boyd Gaming Stock Performance

NYSE BYD opened at $69.23 on Wednesday. The firm has a market cap of $5.71 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 4.46 and a beta of 1.31. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The company’s 50 day moving average is $67.97 and its 200-day moving average is $71.24. Boyd Gaming Co. has a 12-month low of $49.34 and a 12-month high of $80.50.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, April 24th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.10. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. The business had revenue of $991.57 million for the quarter, compared to analysts’ expectations of $976.38 million. During the same quarter in the previous year, the firm posted $1.51 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. Sell-side analysts predict that Boyd Gaming Co. will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were paid a $0.18 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.72 annualized dividend and a yield of 1.04%. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.17. Boyd Gaming’s dividend payout ratio (DPR) is currently 11.75%.

Analysts Set New Price Targets

BYD has been the subject of several analyst reports. Mizuho lowered their target price on shares of Boyd Gaming from $86.00 to $83.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. increased their price objective on shares of Boyd Gaming from $74.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Macquarie restated a “neutral” rating and issued a $74.00 target price on shares of Boyd Gaming in a research note on Friday, April 25th. Jefferies Financial Group raised Boyd Gaming from a “hold” rating to a “buy” rating and increased their price target for the company from $73.00 to $92.00 in a research report on Friday, January 3rd. Finally, JMP Securities reissued a “market perform” rating on shares of Boyd Gaming in a research report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.07.

Insider Buying and Selling at Boyd Gaming

In related news, Director Christine J. Spadafor sold 1,125 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $75.28, for a total transaction of $84,690.00. Following the completion of the transaction, the director now directly owns 4,852 shares in the company, valued at $365,258.56. The trade was a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William R. Boyd sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total value of $1,189,800.00. Following the completion of the sale, the director now directly owns 1,472,970 shares in the company, valued at approximately $116,835,980.40. The trade was a 1.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,125 shares of company stock valued at $5,158,490 in the last quarter. 27.94% of the stock is currently owned by corporate insiders.

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.