GC Wealth Management RIA LLC Invests $307,000 in Boyd Gaming Co. (NYSE:BYD)

GC Wealth Management RIA LLC bought a new stake in Boyd Gaming Co. (NYSE:BYD) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 4,229 shares of the company’s stock, valued at approximately $307,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BYD. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Boyd Gaming by 6.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,986 shares of the company’s stock valued at $1,232,000 after purchasing an additional 1,075 shares during the period. AlphaQuest LLC lifted its holdings in Boyd Gaming by 347.2% during the 4th quarter. AlphaQuest LLC now owns 12,588 shares of the company’s stock valued at $913,000 after purchasing an additional 9,773 shares during the last quarter. Edgestream Partners L.P. increased its position in Boyd Gaming by 1,293.1% in the 4th quarter. Edgestream Partners L.P. now owns 67,900 shares of the company’s stock valued at $4,925,000 after acquiring an additional 63,026 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Boyd Gaming in the 4th quarter valued at about $43,273,000. Finally, Proficio Capital Partners LLC acquired a new stake in Boyd Gaming in the 4th quarter valued at about $3,847,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BYD has been the subject of several analyst reports. StockNews.com cut shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th. Barclays increased their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. JPMorgan Chase & Co. increased their price objective on shares of Boyd Gaming from $74.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Wells Fargo & Company increased their price objective on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, Mizuho raised their target price on shares of Boyd Gaming from $79.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.20.

Insider Transactions at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the completion of the sale, the chairman now owns 1,346,628 shares of the company’s stock, valued at $104,606,063.04. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christine J. Spadafor sold 1,125 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $75.28, for a total transaction of $84,690.00. Following the sale, the director now directly owns 4,852 shares of the company’s stock, valued at $365,258.56. This trade represents a 18.82 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,785 shares of company stock worth $5,208,439. Company insiders own 27.94% of the company’s stock.

Boyd Gaming Stock Up 0.8 %

Boyd Gaming stock opened at $66.86 on Wednesday. The firm has a 50 day simple moving average of $74.95 and a 200 day simple moving average of $70.32. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 4.46 and a beta of 1.55. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $80.50.

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

Boyd Gaming Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.18 per share. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, March 17th. Boyd Gaming’s dividend payout ratio is currently 11.58%.

Boyd Gaming declared that its Board of Directors has authorized a stock buyback program on Thursday, December 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 7.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.