Boyd Gaming Co. (NYSE:BYD) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC lifted its position in Boyd Gaming Co. (NYSE:BYD) by 219.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,998 shares of the company’s stock after acquiring an additional 20,593 shares during the period. Empowered Funds LLC’s holdings in Boyd Gaming were worth $2,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Creative Planning grew its position in Boyd Gaming by 10.5% during the 3rd quarter. Creative Planning now owns 8,797 shares of the company’s stock worth $569,000 after purchasing an additional 838 shares during the period. AlphaMark Advisors LLC grew its position in Boyd Gaming by 5.8% during the 3rd quarter. AlphaMark Advisors LLC now owns 8,529 shares of the company’s stock worth $551,000 after purchasing an additional 466 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in Boyd Gaming during the 3rd quarter worth about $201,000. Raymond James & Associates grew its position in Boyd Gaming by 0.6% during the 3rd quarter. Raymond James & Associates now owns 67,439 shares of the company’s stock worth $4,360,000 after purchasing an additional 403 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Boyd Gaming by 11,891.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 62,117 shares of the company’s stock worth $4,016,000 after purchasing an additional 61,599 shares during the period. 76.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Marianne Boyd Johnson sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the completion of the sale, the chairman now owns 1,346,628 shares in the company, valued at $104,606,063.04. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christine J. Spadafor sold 660 shares of the firm’s 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 owns 5,977 shares of the company’s stock, valued at $452,339.36. This represents a 9.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,660 shares of company stock valued at $8,251,549 in the last ninety days. 27.94% of the stock is currently owned by corporate insiders.

Boyd Gaming Trading Up 0.6 %

BYD opened at $78.57 on Friday. 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’s 50 day simple moving average is $74.39 and its two-hundred day simple moving average is $68.12. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $80.50. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 4.38 and a beta of 1.54.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, February 6th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. Analysts expect that Boyd Gaming Co. will post 6.57 EPS for the current fiscal year.

Boyd Gaming announced that its board has authorized a stock buyback plan on Thursday, December 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Boyd Gaming Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Monday, December 16th. Boyd Gaming’s dividend payout ratio (DPR) is 10.93%.

Wall Street Analyst Weigh In

BYD has been the topic of several analyst reports. Argus raised Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research report on Tuesday, December 17th. JPMorgan Chase & Co. increased their price target on Boyd Gaming from $74.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Wells Fargo & Company increased their target price on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Mizuho increased their target price on shares of Boyd Gaming from $79.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Barclays increased their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.