Signet Financial Management LLC Increases Stock Holdings in Boyd Gaming Co. (NYSE:BYD)

Signet Financial Management LLC increased its holdings in shares of Boyd Gaming Co. (NYSE:BYD) by 1.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 28,002 shares of the company’s stock after purchasing an additional 390 shares during the period. Signet Financial Management LLC’s holdings in Boyd Gaming were worth $1,753,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its position in Boyd Gaming by 105.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock worth $25,000 after acquiring an additional 211 shares during the period. Belpointe Asset Management LLC lifted its position in Boyd Gaming by 237.6% during the 1st quarter. Belpointe Asset Management LLC now owns 655 shares of the company’s stock worth $42,000 after acquiring an additional 461 shares during the period. Quarry LP lifted its position in Boyd Gaming by 130.3% during the 1st quarter. Quarry LP now owns 822 shares of the company’s stock worth $53,000 after acquiring an additional 465 shares during the period. Allworth Financial LP lifted its position in Boyd Gaming by 3,333.3% during the 4th quarter. Allworth Financial LP now owns 1,030 shares of the company’s stock worth $64,000 after acquiring an additional 1,000 shares during the period. Finally, Sunbelt Securities Inc. acquired a new stake in Boyd Gaming during the 1st quarter worth about $86,000. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. Susquehanna reaffirmed a “neutral” rating and set a $75.00 price target (down previously from $84.00) on shares of Boyd Gaming in a research report on Monday, February 12th. Wells Fargo & Company boosted their price objective on Boyd Gaming from $81.00 to $82.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Barclays boosted their price objective on Boyd Gaming from $66.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. Truist Financial boosted their price objective on Boyd Gaming from $76.00 to $80.00 and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Morgan Stanley upped their price target on Boyd Gaming from $71.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.30.

Boyd Gaming Trading Up 0.2 %

BYD traded up $0.13 during trading hours on Tuesday, reaching $64.69. The company’s stock had a trading volume of 275,806 shares, compared to its average volume of 726,252. Boyd Gaming Co. has a fifty-two week low of $52.42 and a fifty-two week high of $73.00. The stock has a market cap of $6.19 billion, a PE ratio of 10.61, a P/E/G ratio of 3.02 and a beta of 1.60. The business’s 50-day moving average is $64.47 and its 200-day moving average is $61.87. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.89 and a quick ratio of 0.85.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, February 8th. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. Boyd Gaming had a return on equity of 36.97% and a net margin of 16.58%. The firm had revenue of $954.41 million for the quarter, compared to analysts’ expectations of $928.04 million. During the same period in the prior year, the firm posted $1.72 earnings per share. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts predict that Boyd Gaming Co. will post 6.18 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a $0.17 dividend. The ex-dividend date was Thursday, March 14th. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.05%. Boyd Gaming’s dividend payout ratio is currently 11.15%.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, VP William R. Boyd sold 50,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $64.04, for a total transaction of $3,202,000.00. Following the transaction, the vice president now directly owns 1,617,970 shares in the company, valued at $103,614,798.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Marianne Boyd Johnson sold 77,661 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $64.87, for a total value of $5,037,869.07. Following the sale, the chairman now directly owns 1,511,433 shares in the company, valued at $98,046,658.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP William R. Boyd sold 50,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $64.04, for a total value of $3,202,000.00. Following the completion of the sale, the vice president now owns 1,617,970 shares in the company, valued at $103,614,798.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 582,910 shares of company stock worth $37,299,461. Insiders own 28.40% of the company’s stock.

Boyd Gaming 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.