GWN Securities Inc. Takes $234,000 Position in Boyd Gaming Co. (NYSE:BYD)

GWN Securities Inc. acquired a new stake in Boyd Gaming Co. (NYSE:BYD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,100 shares of the company’s stock, valued at approximately $234,000.

Several other institutional investors have also modified their holdings of the company. Globeflex Capital L P acquired a new stake in shares of Boyd Gaming in the fourth quarter valued at $725,000. Avantax Advisory Services Inc. acquired a new stake in shares of Boyd Gaming during the fourth quarter worth $205,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Boyd Gaming during the fourth quarter worth $6,066,000. GC Wealth Management RIA LLC acquired a new stake in shares of Boyd Gaming during the fourth quarter worth $307,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Boyd Gaming by 6.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,986 shares of the company’s stock worth $1,232,000 after purchasing an additional 1,075 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. JMP Securities reissued a “market perform” rating on shares of Boyd Gaming in a research report on Friday, February 7th. Barclays increased their price objective on Boyd Gaming from $74.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Jefferies Financial Group raised Boyd Gaming from a “hold” rating to a “buy” rating and increased their price objective for the stock from $73.00 to $92.00 in a research note on Friday, January 3rd. JPMorgan Chase & Co. increased their price objective on Boyd Gaming from $74.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Finally, Truist Financial increased their price objective on Boyd Gaming from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Boyd Gaming has a consensus rating of “Moderate Buy” and an average price target of $95.20.

Boyd Gaming Stock Up 1.2 %

BYD opened at $69.33 on Tuesday. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $80.50. The business has a 50-day moving average of $74.56 and a 200-day moving average of $70.54. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. The company has a market capitalization of $5.81 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 4.46 and a beta of 1.55.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. Equities research analysts forecast that Boyd Gaming Co. will post 6.52 EPS for the current fiscal 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 issued a dividend of $0.18 per share. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, March 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.04%. Boyd Gaming’s dividend payout ratio is currently 11.58%.

Boyd Gaming announced that its board has initiated a share buyback plan on Thursday, December 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chairman now owns 1,346,628 shares of the company’s stock, valued at $104,606,063.04. This trade represents a 3.58 % decrease in their position. The transaction was disclosed in a 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 shares were sold at an average price of $75.28, for a total value of $84,690.00. Following the completion of the sale, the director now directly owns 4,852 shares in the company, valued at $365,258.56. This trade represents a 18.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,125 shares of company stock valued at $5,158,490. 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.