Kera Capital Partners Inc. Purchases Shares of 3,029 Boyd Gaming Co. (NYSE:BYD)

Kera Capital Partners Inc. acquired a new position in Boyd Gaming Co. (NYSE:BYD) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,029 shares of the company’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also modified their holdings of BYD. Ariel Investments LLC raised its holdings in Boyd Gaming by 12.5% in the second quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock valued at $167,046,000 after buying an additional 335,984 shares during the period. State Street Corp raised its stake in shares of Boyd Gaming by 0.8% in the 3rd quarter. State Street Corp now owns 2,108,672 shares of the company’s stock valued at $136,680,000 after acquiring an additional 17,591 shares during the period. Geode Capital Management LLC lifted its holdings 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 valued at $74,611,000 after acquiring an additional 33,379 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in 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 period. Finally, Victory Capital Management Inc. increased 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 purchasing an additional 894,383 shares in the last quarter. 76.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Boyd Gaming

In other news, Director Christine J. Spadafor sold 660 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $75.68, for a total transaction of $49,948.80. Following the sale, the director now directly owns 5,977 shares in the company, valued at approximately $452,339.36. This represents a 9.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Keith Smith sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $73.49, for a total value of $2,939,600.00. Following the transaction, the chief executive officer now owns 1,161,202 shares of the company’s stock, valued at $85,336,734.98. This represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,364 shares of company stock worth $10,590,893 over the last 90 days. Insiders own 28.40% of the company’s stock.

Boyd Gaming Price Performance

Shares of BYD opened at $74.92 on Monday. Boyd Gaming Co. has a 52 week low of $49.34 and a 52 week high of $76.73. 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 firm has a market cap of $6.62 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 3.95 and a beta of 1.54. The stock has a 50 day moving average of $73.00 and a 200-day moving average of $65.57.

Boyd Gaming announced that its Board of Directors has authorized a stock buyback plan on Thursday, December 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Boyd Gaming Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Monday, December 16th. Boyd Gaming’s dividend payout ratio is presently 12.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BYD shares. Barclays boosted their price objective on Boyd Gaming from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Mizuho restated an “outperform” rating and issued a $79.00 price target (up previously from $78.00) on shares of Boyd Gaming in a report on Friday, October 25th. JMP Securities reiterated a “market perform” rating on shares of Boyd Gaming in a research note on Thursday. Morgan Stanley upped their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Argus raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Boyd Gaming currently has an average rating of “Moderate Buy” and an average price target of $92.20.

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.