Orion Portfolio Solutions LLC Invests $216,000 in Boyd Gaming Co. (NYSE:BYD)

Orion Portfolio Solutions LLC acquired a new stake in Boyd Gaming Co. (NYSE:BYD) in the third quarter, Holdings Channel.com reports. The firm acquired 3,344 shares of the company’s stock, valued at approximately $216,000.

Other hedge funds also recently bought and sold shares of the company. Weiss Asset Management LP bought a new position in Boyd Gaming in the 3rd quarter worth about $7,101,000. State Street Corp grew its holdings in shares of Boyd Gaming by 0.8% during the third quarter. State Street Corp now owns 2,108,672 shares of the company’s stock worth $136,680,000 after purchasing an additional 17,591 shares in the last quarter. Stifel Financial Corp increased its position in shares of Boyd Gaming by 2.1% in the third quarter. Stifel Financial Corp now owns 19,699 shares of the company’s stock worth $1,274,000 after purchasing an additional 414 shares during the last quarter. Quadrature Capital Ltd raised its stake in Boyd Gaming by 201.3% in the third quarter. Quadrature Capital Ltd now owns 49,951 shares of the company’s stock valued at $3,229,000 after purchasing an additional 33,374 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in Boyd Gaming by 53.3% during the third quarter. Quantinno Capital Management LP now owns 106,651 shares of the company’s stock valued at $6,895,000 after purchasing an additional 37,059 shares during the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Price Performance

Shares of Boyd Gaming stock opened at $71.20 on Friday. The firm has a market cap of $6.29 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 9.93 and a beta of 1.54. The company’s fifty day simple moving average is $71.02 and its two-hundred day simple moving average is $62.71. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. Boyd Gaming Co. has a 12-month low of $49.34 and a 12-month high of $76.73.

Boyd Gaming Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a dividend of $0.17 per share. The ex-dividend date is Monday, December 16th. This represents a $0.68 dividend on an annualized basis and a yield of 0.96%. Boyd Gaming’s dividend payout ratio is presently 12.98%.

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

Analyst Ratings Changes

BYD has been the topic of several research reports. Morgan Stanley raised their price objective on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Mizuho restated an “outperform” rating and set a $79.00 price target (up previously from $78.00) on shares of Boyd Gaming in a research report on Friday, October 25th. Wells Fargo & Company increased their price objective on Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Argus upgraded 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. Finally, Truist Financial increased their price target on shares of Boyd Gaming from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Boyd Gaming currently has an average rating of “Moderate Buy” and an average price target of $91.64.

Insider Buying and Selling at Boyd Gaming

In related news, Director Christine J. Spadafor sold 660 shares of the business’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 transaction, the director now owns 5,977 shares in the company, valued at $452,339.36. The trade was a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Keith Smith sold 40,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $73.49, for a total transaction of $2,939,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,161,202 shares of the company’s stock, valued at approximately $85,336,734.98. The trade was a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,364 shares of company stock valued at $10,590,893 in the last 90 days. Insiders own 27.94% of the company’s stock.

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.