4,215 Shares in Boyd Gaming Co. (NYSE:BYD) Bought by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC acquired a new stake in Boyd Gaming Co. (NYSE:BYD) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,215 shares of the company’s stock, valued at approximately $306,000.

A number of other large investors have also modified their holdings of the company. Altshuler Shaham Ltd purchased a new position in shares of Boyd Gaming in the 2nd quarter valued at about $29,000. GAMMA Investing LLC increased its position in shares of Boyd Gaming by 47.4% in the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 148 shares in the last quarter. Covestor Ltd raised its stake in shares of Boyd Gaming by 54.9% during the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after buying an additional 208 shares during the period. Quarry LP raised its stake in shares of Boyd Gaming by 150.1% during the 3rd quarter. Quarry LP now owns 873 shares of the company’s stock worth $56,000 after buying an additional 524 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of Boyd Gaming by 921.8% during 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 in the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

Analysts Set New Price Targets

BYD has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price target 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. Morgan Stanley boosted their price objective on Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Argus raised Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Tuesday, December 17th. JPMorgan Chase & Co. increased their price objective on Boyd Gaming from $69.00 to $74.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Boyd Gaming in a report on Thursday. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.20.

Insider Activity at Boyd Gaming

In other news, Director Christine J. Spadafor sold 660 shares of Boyd Gaming stock in a transaction on Thursday, December 12th. The stock was 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 directly owns 5,977 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed 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 value of $2,939,600.00. Following the transaction, the chief executive officer now directly owns 1,161,202 shares in the company, valued at approximately $85,336,734.98. The trade was a 3.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,364 shares of company stock worth $10,590,893. Insiders own 28.40% of the company’s stock.

Boyd Gaming Trading Up 0.6 %

Shares of BYD stock opened at $73.99 on Friday. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $76.73. The firm has a market cap of $6.54 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 3.95 and a beta of 1.54. The company has a 50-day moving average of $72.94 and a two-hundred day moving average of $65.20. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were given a dividend of $0.17 per share. The ex-dividend date was Monday, December 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.92%. Boyd Gaming’s payout ratio is currently 12.98%.

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

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.