R Squared Ltd Purchases Shares of 2,150 Boyd Gaming Co. (NYSE:BYD)

R Squared Ltd purchased a new position in Boyd Gaming Co. (NYSE:BYD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,150 shares of the company’s stock, valued at approximately $156,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank n.a. increased its stake in Boyd Gaming by 80.3% in the 4th quarter. UMB Bank n.a. now owns 393 shares of the company’s stock worth $29,000 after acquiring an additional 175 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Boyd Gaming by 47.4% in the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 148 shares during the last quarter. Covestor Ltd raised its stake in Boyd Gaming by 54.9% in the third quarter. Covestor Ltd now owns 587 shares of the company’s stock valued at $38,000 after purchasing an additional 208 shares in the last quarter. Quarry LP lifted its position in Boyd Gaming by 150.1% during the third quarter. Quarry LP now owns 873 shares of the company’s stock valued at $56,000 after purchasing an additional 524 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Boyd Gaming by 921.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock worth $57,000 after buying an additional 802 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of Boyd Gaming from $77.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. StockNews.com raised Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Jefferies Financial Group upgraded Boyd Gaming from a “hold” rating to a “buy” rating and increased their price objective for the company from $73.00 to $92.00 in a research report on Friday, January 3rd. Argus raised Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Tuesday, December 17th. Finally, Stifel Nicolaus lifted their price target on shares of Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $92.80.

Boyd Gaming Stock Performance

Boyd Gaming stock opened at $76.61 on Thursday. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $77.51. The firm has a market cap of $6.77 billion, a P/E ratio of 14.62, a P/E/G 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. The firm has a 50-day moving average of $73.50 and a 200-day moving average of $66.65.

Boyd Gaming Announces Dividend

The firm 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 0.89%. Boyd Gaming’s dividend payout ratio is currently 12.98%.

Boyd Gaming declared that its Board of Directors has approved a stock repurchase plan on Thursday, December 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 7.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity

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

About Boyd Gaming

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.