QRG Capital Management Inc. Has $817,000 Position in Boyd Gaming Co. (NYSE:BYD)

QRG Capital Management Inc. raised its stake in shares of Boyd Gaming Co. (NYSE:BYD) by 22.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,642 shares of the company’s stock after buying an additional 2,313 shares during the period. QRG Capital Management Inc.’s holdings in Boyd Gaming were worth $817,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Cetera Trust Company N.A boosted its stake in shares of Boyd Gaming by 5.4% during the 3rd quarter. Cetera Trust Company N.A now owns 3,330 shares of the company’s stock valued at $215,000 after buying an additional 170 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Boyd Gaming by 57.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after purchasing an additional 189 shares in the last quarter. AlphaMark Advisors LLC raised its holdings in shares of Boyd Gaming by 2.6% during the 2nd quarter. AlphaMark Advisors LLC now owns 8,063 shares of the company’s stock valued at $444,000 after purchasing an additional 205 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Boyd Gaming by 4.9% during the 1st quarter. Lazard Asset Management LLC now owns 5,361 shares of the company’s stock valued at $360,000 after purchasing an additional 249 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Boyd Gaming by 58.2% during the 2nd quarter. Blue Trust Inc. now owns 783 shares of the company’s stock valued at $43,000 after purchasing an additional 288 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

Insider Activity

In other news, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $60.36, for a total transaction of $74,967.12. Following the sale, the director now directly owns 1,096 shares in the company, valued at approximately $66,154.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Boyd Gaming news, CFO Josh Hirsberg sold 21,549 shares of the business’s 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 transaction, the chief financial officer now directly owns 438,615 shares in the company, valued at $31,330,269.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christine J. Spadafor sold 1,242 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $60.36, for a total transaction of $74,967.12. Following the completion of the transaction, the director now owns 1,096 shares in the company, valued at approximately $66,154.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,076 shares of company stock worth $7,763,331. Corporate insiders own 27.94% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BYD shares. Bank of America raised their price target on shares of Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. StockNews.com upgraded shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Barclays lifted their target price on shares of Boyd Gaming from $70.00 to $71.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Stifel Nicolaus lifted their target price on shares of Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Finally, Macquarie dropped their target price on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $91.38.

Boyd Gaming Stock Performance

NYSE:BYD opened at $73.67 on Friday. The firm’s 50-day moving average is $64.67 and its 200-day moving average is $58.87. Boyd Gaming Co. has a 52-week low of $49.34 and a 52-week high of $73.75. 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 company has a market cap of $6.51 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 9.35 and a beta of 1.55.

Boyd Gaming Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Sunday, September 15th were given a dividend of $0.17 per share. The ex-dividend date was Friday, September 13th. This represents a $0.68 annualized dividend and a dividend yield of 0.92%. Boyd Gaming’s dividend payout ratio (DPR) is currently 12.98%.

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.