Corient Private Wealth LLC Lowers Position in Boyd Gaming Co. (NYSE:BYD)

Corient Private Wealth LLC decreased its stake in Boyd Gaming Co. (NYSE:BYD) by 14.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,258 shares of the company’s stock after selling 911 shares during the period. Corient Private Wealth LLC’s holdings in Boyd Gaming were worth $381,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in BYD. GAMMA Investing LLC increased its holdings in 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 acquiring an additional 148 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Boyd Gaming by 80.3% in the fourth quarter. UMB Bank n.a. now owns 393 shares of the company’s stock worth $29,000 after purchasing an additional 175 shares in the last quarter. Cetera Trust Company N.A raised its position in shares of Boyd Gaming by 6.2% during the 4th quarter. Cetera Trust Company N.A now owns 3,535 shares of the company’s stock valued at $256,000 after purchasing an additional 205 shares during the period. US Bancorp DE lifted its stake in shares of Boyd Gaming by 13.6% during the 4th quarter. US Bancorp DE now owns 2,943 shares of the company’s stock valued at $213,000 after buying an additional 353 shares in the last quarter. Finally, Keybank National Association OH boosted its holdings in Boyd Gaming by 2.6% in the 4th quarter. Keybank National Association OH now owns 14,039 shares of the company’s stock worth $1,018,000 after buying an additional 362 shares during the period. Institutional investors own 76.81% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on BYD. Truist Financial increased their target price on Boyd Gaming from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Susquehanna upgraded shares of Boyd Gaming from a “neutral” rating to a “positive” rating and reduced their price objective for the company from $79.00 to $77.00 in a research report on Wednesday, March 12th. Argus upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research report on Tuesday, December 17th. Morgan Stanley cut shares of Boyd Gaming from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $82.00 to $81.00 in a research note on Monday, February 24th. Finally, JMP Securities reiterated a “market perform” rating on shares of Boyd Gaming 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 data from MarketBeat.com, Boyd Gaming presently has a consensus rating of “Moderate Buy” and an average price target of $95.20.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,125 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $75.28, for a total value of $84,690.00. Following the completion of the sale, the director now directly owns 4,852 shares of the company’s stock, valued at $365,258.56. The trade was a 18.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the completion of the transaction, the chairman now owns 1,346,628 shares in the company, valued at $104,606,063.04. This represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,125 shares of company stock worth $5,158,490. Insiders own 27.94% of the company’s stock.

Boyd Gaming Trading Down 2.2 %

Shares of BYD stock opened at $66.25 on Monday. The company has a market cap of $5.47 billion, a PE ratio of 10.65, a price-to-earnings-growth ratio of 4.46 and a beta of 1.55. Boyd Gaming Co. has a 1 year low of $49.34 and a 1 year high of $80.50. The stock’s 50 day simple moving average is $73.73 and its two-hundred day simple moving average is $71.06. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. Research analysts predict that Boyd Gaming Co. will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.09%. Boyd Gaming’s payout ratio is currently 11.58%.

Boyd Gaming declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 7.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

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.