Golden State Wealth Management LLC Makes New $67,000 Investment in Boyd Gaming Co. (NYSE:BYD)

Golden State Wealth Management LLC acquired a new stake in Boyd Gaming Co. (NYSE:BYD) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 925 shares of the company’s stock, valued at approximately $67,000.

Several other hedge funds also recently modified their holdings of the stock. Victory Capital Management Inc. grew its stake in Boyd Gaming by 6,158.8% in the third quarter. Victory Capital Management Inc. now owns 908,905 shares of the company’s stock valued at $58,761,000 after acquiring an additional 894,383 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Boyd Gaming by 4,816.4% in the 3rd quarter. International Assets Investment Management LLC now owns 184,560 shares of the company’s stock worth $119,320,000 after purchasing an additional 180,806 shares in the last quarter. Goldentree Asset Management LP acquired a new stake in Boyd Gaming in the 3rd quarter valued at $11,490,000. Weiss Asset Management LP bought a new stake in Boyd Gaming during the 3rd quarter valued at $7,101,000. Finally, Algert Global LLC raised its holdings in Boyd Gaming by 183.4% during the third quarter. Algert Global LLC now owns 142,003 shares of the company’s stock worth $9,180,000 after buying an additional 91,900 shares during the last quarter. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Stock Performance

Shares of BYD stock opened at $77.65 on Tuesday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 12.48, a P/E/G ratio of 4.38 and a beta of 1.54. The firm’s 50-day simple moving average is $74.15 and its two-hundred day simple moving average is $67.75. Boyd Gaming Co. has a 52 week low of $49.34 and a 52 week high of $80.50.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.96 EPS for the quarter, beating the consensus estimate 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 analysts forecast that Boyd Gaming Co. will post 6.57 earnings per share for the current year.

Boyd Gaming declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 7.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Boyd Gaming Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were given a $0.17 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.88%. Boyd Gaming’s dividend payout ratio (DPR) is currently 10.93%.

Insider Buying and Selling at Boyd Gaming

In related news, CEO Keith Smith sold 40,000 shares of Boyd Gaming stock in a transaction 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 in the company, valued at $85,336,734.98. This trade represents a 3.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christine J. Spadafor sold 660 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $75.68, for a total value of $49,948.80. Following the completion of the sale, the director now owns 5,977 shares of the company’s stock, valued at $452,339.36. The trade was a 9.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,660 shares of company stock valued at $7,307,149 in the last three months. Company insiders own 27.94% of the company’s stock.

Analyst Upgrades and Downgrades

BYD has been the subject of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of Boyd Gaming from $74.00 to $82.00 and gave the company a “hold” rating in a report on Friday. Wells Fargo & Company boosted their price objective on Boyd Gaming from $82.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday. Argus upgraded Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Tuesday, December 17th. Morgan Stanley upped their price target on Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Susquehanna raised their price objective on Boyd Gaming from $69.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Boyd Gaming has a consensus rating of “Moderate Buy” and an average price target of $95.00.

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.