Farther Finance Advisors LLC Raises Stake in Boyd Gaming Co. (NYSE:BYD)

Farther Finance Advisors LLC raised its stake in Boyd Gaming Co. (NYSE:BYD) by 921.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 889 shares of the company’s stock after buying an additional 802 shares during the quarter. Farther Finance Advisors LLC’s holdings in Boyd Gaming were worth $57,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Seven Eight Capital LP purchased a new position in shares of Boyd Gaming during the 1st quarter worth $930,000. Banco Santander S.A. grew its holdings in shares of Boyd Gaming by 34.0% during the 1st quarter. Banco Santander S.A. now owns 187,492 shares of the company’s stock worth $12,622,000 after purchasing an additional 47,606 shares during the period. Comerica Bank boosted its holdings in Boyd Gaming by 103.1% during the 1st quarter. Comerica Bank now owns 42,898 shares of the company’s stock valued at $2,888,000 after acquiring an additional 21,772 shares during the period. Sei Investments Co. boosted its holdings in Boyd Gaming by 24.7% during the 2nd quarter. Sei Investments Co. now owns 497,331 shares of the company’s stock valued at $27,403,000 after acquiring an additional 98,508 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Boyd Gaming by 11,891.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 62,117 shares of the company’s stock valued at $4,016,000 after acquiring an additional 61,599 shares during the period. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Macquarie lowered their target price on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, July 26th. JPMorgan Chase & Co. raised their target price on Boyd Gaming from $68.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Wells Fargo & Company raised their target price on Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Bank of America raised their target price on Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, Stifel Nicolaus increased their price target on Boyd Gaming from $67.00 to $74.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.38.

Insider Transactions at Boyd Gaming

In other news, Director Christine J. Spadafor sold 1,242 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the sale, the director now owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. This trade represents 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 Boyd Gaming stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 438,615 shares of the company’s stock, 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 SEC, which is available at this hyperlink. Also, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $60.36, for a total value of $74,967.12. Following the transaction, the director now directly owns 1,096 shares in the company, valued at approximately $66,154.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,076 shares of company stock valued at $7,763,331. Corporate insiders own 27.94% of the company’s stock.

Boyd Gaming Price Performance

Shares of NYSE BYD opened at $73.55 on Thursday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $74.78. The firm has a market capitalization of $6.50 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 9.64 and a beta of 1.55. The stock’s 50-day simple moving average is $65.48 and its 200-day simple moving average is $59.16.

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. This represents a $0.68 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Friday, September 13th. Boyd Gaming’s dividend payout ratio (DPR) is presently 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.