Boyd Gaming (NYSE:BYD – Free Report) had its target price hoisted by Barclays from $71.00 to $74.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.
A number of other research firms have also weighed in on BYD. StockNews.com raised Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Truist Financial increased their target price 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. Jefferies Financial Group raised Boyd Gaming from a “hold” rating to a “buy” rating and upped their price target for the company from $73.00 to $92.00 in a research report on Friday, January 3rd. JMP Securities reissued a “market perform” rating on shares of Boyd Gaming in a research note on Thursday, January 16th. Finally, Argus upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.80.
View Our Latest Stock Analysis on Boyd Gaming
Boyd Gaming Trading Down 0.1 %
Boyd Gaming Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Monday, December 16th. Boyd Gaming’s dividend payout ratio is presently 12.98%.
Boyd Gaming announced that its board has authorized a share repurchase plan on Thursday, December 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 7.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
Insider Transactions at Boyd Gaming
In other Boyd Gaming news, Director William R. Boyd sold 25,155 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $69.35, for a total value of $1,744,499.25. Following the completion of the transaction, the director now owns 1,487,970 shares of the company’s stock, valued at approximately $103,190,719.50. The trade was a 1.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christine J. Spadafor sold 660 shares of the firm’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 sale, the director now directly owns 5,977 shares in the company, valued at approximately $452,339.36. The trade was a 9.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 147,364 shares of company stock worth $10,590,893. Corporate insiders own 27.94% of the company’s stock.
Hedge Funds Weigh In On Boyd Gaming
Institutional investors and hedge funds have recently modified their holdings of the company. UMB Bank n.a. increased its holdings in Boyd Gaming by 80.3% during the fourth quarter. UMB Bank n.a. now owns 393 shares of the company’s stock valued at $29,000 after buying an additional 175 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Boyd Gaming by 47.4% in the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 148 shares in the last quarter. Covestor Ltd raised its holdings in Boyd Gaming by 54.9% in the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after purchasing an additional 208 shares during the period. 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 in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in Boyd Gaming by 921.8% during the third quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock valued at $57,000 after purchasing an additional 802 shares during the period. 76.81% of the stock is currently owned by hedge funds and other institutional investors.
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.
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