Mount Yale Investment Advisors LLC Raises Stock Position in Boyd Gaming Co. (NYSE:BYD)

Mount Yale Investment Advisors LLC lifted its position in shares of Boyd Gaming Co. (NYSE:BYD) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,320 shares of the company’s stock after acquiring an additional 523 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Boyd Gaming were worth $313,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BYD. State Street Corp boosted its position in Boyd Gaming by 0.8% during the third quarter. State Street Corp now owns 2,108,672 shares of the company’s stock worth $136,680,000 after purchasing an additional 17,591 shares in the last quarter. Geode Capital Management LLC raised its stake 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 worth $74,611,000 after buying an additional 33,379 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 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 buying an additional 54,128 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Boyd Gaming by 6,158.8% in the 3rd quarter. Victory Capital Management Inc. now owns 908,905 shares of the company’s stock worth $58,761,000 after buying an additional 894,383 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in Boyd Gaming by 2.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 679,178 shares of the company’s stock valued at $42,523,000 after acquiring an additional 16,159 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

Insider Activity at Boyd Gaming

In related news, Director Christine J. Spadafor sold 660 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $75.68, for a total transaction of $49,948.80. Following the completion of the sale, the director now directly owns 5,977 shares of the company’s stock, valued at approximately $452,339.36. This trade represents a 9.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Josh Hirsberg sold 21,549 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $71.43, for a total value of $1,539,245.07. Following the completion of the transaction, the chief financial officer now directly owns 438,615 shares of the company’s stock, valued at $31,330,269.45. This represents a 4.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 122,209 shares of company stock worth $8,846,394. Company insiders own 27.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of Boyd Gaming from $67.00 to $74.00 and gave the company a “hold” rating in a report on Friday, October 25th. StockNews.com raised Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. increased their target price on Boyd Gaming from $74.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Truist Financial boosted their price target on Boyd Gaming from $77.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, Wells Fargo & Company increased their price objective on Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $92.80.

Boyd Gaming Price Performance

Shares of Boyd Gaming stock opened at $76.61 on Thursday. The business’s fifty day moving average price is $73.50 and its 200 day moving average price is $66.65. The stock has a market capitalization of $6.77 billion, a P/E ratio of 14.62, a PEG ratio of 4.21 and a beta of 1.54. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $77.51.

Boyd Gaming announced that its board has authorized a stock repurchase program on Thursday, December 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to buy up to 7.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Boyd Gaming Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Monday, December 16th. Boyd Gaming’s dividend payout ratio (DPR) is presently 12.98%.

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.