Aaron Wealth Advisors LLC Takes Position in Boyd Gaming Co. (NYSE:BYD)

Aaron Wealth Advisors LLC purchased a new position in shares of Boyd Gaming Co. (NYSE:BYD) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,658 shares of the company’s stock, valued at approximately $265,000.

A number of other institutional investors have also recently bought and sold shares of BYD. Sanctuary Advisors LLC boosted its stake in shares of Boyd Gaming by 25.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 47,369 shares of the company’s stock worth $3,062,000 after acquiring an additional 9,565 shares during the period. Sei Investments Co. boosted its position in Boyd Gaming by 24.7% during the second quarter. Sei Investments Co. now owns 497,331 shares of the company’s stock worth $27,403,000 after purchasing an additional 98,508 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Boyd Gaming by 11,891.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 62,117 shares of the company’s stock valued at $4,016,000 after purchasing an additional 61,599 shares during the last quarter. Ariel Investments LLC raised its position in shares of Boyd Gaming by 12.5% in the second quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock valued at $167,046,000 after purchasing an additional 335,984 shares during the period. Finally, Weiss Asset Management LP acquired a new stake in shares of Boyd Gaming during the 3rd quarter worth about $7,101,000. Institutional investors and hedge funds own 76.81% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Josh Hirsberg sold 21,549 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $71.43, for a total transaction of $1,539,245.07. Following the completion of the transaction, the chief financial officer now directly owns 438,615 shares in the company, valued at approximately $31,330,269.45. This represents a 4.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Boyd sold 25,155 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $69.35, for a total value of $1,744,499.25. Following the sale, the director now directly owns 1,487,970 shares in the company, valued at approximately $103,190,719.50. This trade represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,364 shares of company stock valued at $10,590,893. 28.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BYD. StockNews.com upgraded shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. 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 boosted their price target on Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Morgan Stanley increased their price objective on Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial boosted their target price on shares of Boyd Gaming from $77.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Boyd Gaming currently has an average rating of “Moderate Buy” and an average target price of $92.20.

Boyd Gaming Trading Up 1.1 %

Shares of BYD stock opened at $74.92 on Tuesday. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $76.73. The stock’s fifty day moving average price is $73.02 and its two-hundred day moving average price is $65.72. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The company has a market cap of $6.62 billion, a PE ratio of 14.30, a P/E/G ratio of 3.95 and a beta of 1.54.

Boyd Gaming declared that its board has approved a stock repurchase plan on Thursday, December 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Monday, December 16th. Boyd Gaming’s dividend payout ratio is presently 12.98%.

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.