Venturi Wealth Management LLC Raises Holdings in Boyd Gaming Co. (NYSE:BYD)

Venturi Wealth Management LLC boosted its stake in shares of Boyd Gaming Co. (NYSE:BYD) by 105.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,941 shares of the company’s stock after acquiring an additional 998 shares during the period. Venturi Wealth Management LLC’s holdings in Boyd Gaming were worth $141,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BYD. Creative Planning increased its holdings in shares of Boyd Gaming by 10.5% in the 3rd quarter. Creative Planning now owns 8,797 shares of the company’s stock valued at $569,000 after acquiring an additional 838 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Boyd Gaming by 0.6% in the 3rd quarter. Raymond James & Associates now owns 67,439 shares of the company’s stock valued at $4,360,000 after acquiring an additional 403 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Boyd Gaming by 11,891.7% in 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 last quarter. International Assets Investment Management LLC increased its holdings in shares of Boyd Gaming by 4,816.4% in the 3rd quarter. International Assets Investment Management LLC now owns 184,560 shares of the company’s stock valued at $119,320,000 after acquiring an additional 180,806 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC purchased a new position in shares of Boyd Gaming in the 3rd quarter valued at about $245,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Insider Activity

In related news, Director William R. Boyd sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total value of $1,189,800.00. Following the completion of the transaction, the director now directly owns 1,472,970 shares of the company’s stock, valued at $116,835,980.40. This trade represents a 1.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christine J. Spadafor sold 660 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 5,977 shares of the company’s stock, valued at $452,339.36. The trade was a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,660 shares of company stock valued at $5,123,749 in the last three months. 27.94% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Truist Financial increased their price objective on Boyd Gaming from $85.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. JMP Securities reiterated a “market perform” rating on shares of Boyd Gaming in a report on Friday, February 7th. Barclays increased their price objective on Boyd Gaming from $74.00 to $78.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Wells Fargo & Company upped their target price on Boyd Gaming from $82.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. upped their target price on Boyd Gaming from $74.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued 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 target price of $95.00.

Boyd Gaming Stock Down 3.2 %

BYD opened at $76.86 on Friday. 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 business has a 50 day simple moving average of $74.77 and a 200-day simple moving average of $68.94. The stock has a market capitalization of $6.79 billion, a P/E ratio of 12.36, a P/E/G ratio of 4.46 and a beta of 1.54. Boyd Gaming Co. has a 12 month low of $49.34 and a 12 month high of $80.50.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. On average, equities analysts anticipate that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming declared that its board has authorized 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 purchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Boyd Gaming Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $0.18 dividend. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Monday, March 17th. Boyd Gaming’s dividend payout ratio (DPR) is currently 10.93%.

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.