Tidal Investments LLC Has $723,000 Holdings in Boyd Gaming Co. (NYSE:BYD)

Tidal Investments LLC decreased its stake in Boyd Gaming Co. (NYSE:BYD) by 14.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,185 shares of the company’s stock after selling 1,848 shares during the quarter. Tidal Investments LLC’s holdings in Boyd Gaming were worth $723,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BYD. Altshuler Shaham Ltd acquired a new stake in shares of Boyd Gaming in the 2nd quarter valued at approximately $29,000. Covestor Ltd increased its stake in Boyd Gaming by 54.9% in the third quarter. Covestor Ltd now owns 587 shares of the company’s stock valued at $38,000 after purchasing an additional 208 shares in the last quarter. Blue Trust Inc. raised its holdings in Boyd Gaming by 58.2% in the second quarter. Blue Trust Inc. now owns 783 shares of the company’s stock worth $43,000 after purchasing an additional 288 shares during the period. Quarry LP boosted its position in shares of Boyd Gaming by 150.1% during the third quarter. Quarry LP now owns 873 shares of the company’s stock worth $56,000 after purchasing an additional 524 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Boyd Gaming by 921.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock valued at $57,000 after buying an additional 802 shares during the period. Institutional investors own 76.81% of the company’s stock.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Director Christine J. Spadafor sold 660 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $75.68, for a total value of $49,948.80. Following the completion of the sale, the director now owns 5,977 shares in the company, valued at $452,339.36. This trade represents a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $1,744,499.25. Following the transaction, the director now owns 1,487,970 shares in the company, valued at $103,190,719.50. This represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,364 shares of company stock worth $10,590,893 over the last ninety days. 27.94% of the stock is currently owned by corporate insiders.

Boyd Gaming Trading Up 0.1 %

Shares of NYSE:BYD opened at $71.20 on Friday. The company’s 50-day moving average price is $71.18 and its two-hundred day moving average price is $62.83. Boyd Gaming Co. has a one year low of $49.34 and a one year high of $76.73. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. The stock has a market capitalization 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.

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

Boyd Gaming Announces Dividend

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

Analyst Ratings Changes

Several analysts recently commented on BYD shares. Barclays raised their price objective on Boyd Gaming from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Morgan Stanley raised their price target on Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus increased their target price on Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Wells Fargo & Company raised their target price on shares of Boyd Gaming from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, StockNews.com upgraded shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Six research 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.64.

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.