Covestor Ltd Purchases 208 Shares of Boyd Gaming Co. (NYSE:BYD)

Covestor Ltd lifted its position in Boyd Gaming Co. (NYSE:BYD) by 54.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 587 shares of the company’s stock after purchasing an additional 208 shares during the period. Covestor Ltd’s holdings in Boyd Gaming were worth $38,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in BYD. Seven Eight Capital LP bought a new stake in Boyd Gaming in the first quarter valued at $930,000. Comerica Bank boosted its holdings in Boyd Gaming by 103.1% in the first quarter. Comerica Bank now owns 42,898 shares of the company’s stock valued at $2,888,000 after acquiring an additional 21,772 shares in the last quarter. Sei Investments Co. boosted its holdings in Boyd Gaming by 24.7% in the second quarter. Sei Investments Co. now owns 497,331 shares of the company’s stock valued at $27,403,000 after acquiring an additional 98,508 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in 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 acquiring an additional 61,599 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Boyd Gaming in the second quarter valued at $730,000. Institutional investors own 76.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BYD. Morgan Stanley lifted their price target on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Barclays lifted their price target on shares of Boyd Gaming from $70.00 to $71.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Wells Fargo & Company boosted their target price on shares of Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Truist Financial boosted their target price on shares of Boyd Gaming from $75.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Bank of America boosted their target price on shares of Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.38.

Insiders Place Their Bets

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 73,130 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the completion of the sale, the chairman now directly owns 1,423,498 shares in the company, valued at $85,737,284.54. The trade was a 4.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William R. Boyd sold 25,155 shares of the business’s stock in a transaction dated 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 owns 1,487,970 shares of the company’s stock, valued at approximately $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. In the last 90 days, insiders sold 161,076 shares of company stock valued at $10,702,931. 27.94% of the stock is owned by insiders.

Boyd Gaming Price Performance

BYD opened at $72.43 on Friday. Boyd Gaming Co. has a 1 year low of $49.34 and a 1 year high of $74.78. The stock has a 50-day moving average price of $65.99 and a 200-day moving average price of $59.39. 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 firm has a market cap of $6.40 billion, a PE ratio of 13.82, a P/E/G ratio of 9.60 and a beta of 1.55.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Sunday, September 15th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Friday, September 13th. Boyd Gaming’s dividend payout ratio (DPR) is 12.98%.

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.