Natixis Advisors LLC Sells 298 Shares of Boyd Gaming Co. (NYSE:BYD)

Natixis Advisors LLC lowered its position in shares of Boyd Gaming Co. (NYSE:BYD) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,982 shares of the company’s stock after selling 298 shares during the period. Natixis Advisors LLC’s holdings in Boyd Gaming were worth $797,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Rhumbline Advisers increased its position in Boyd Gaming by 1.0% during the 4th quarter. Rhumbline Advisers now owns 185,714 shares of the company’s stock valued at $13,472,000 after purchasing an additional 1,797 shares during the period. Sanctuary Advisors LLC increased its holdings in Boyd Gaming by 25.3% during the third quarter. Sanctuary Advisors LLC now owns 47,369 shares of the company’s stock valued at $3,062,000 after buying an additional 9,565 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Boyd Gaming by 226.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 202,824 shares of the company’s stock worth $14,569,000 after buying an additional 140,707 shares in the last quarter. GC Wealth Management RIA LLC purchased a new stake in Boyd Gaming during the fourth quarter worth $307,000. Finally, Truist Financial Corp boosted its position in Boyd Gaming by 20.7% during the 4th quarter. Truist Financial Corp now owns 4,458 shares of the company’s stock valued at $323,000 after acquiring an additional 765 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Argus raised Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Tuesday, December 17th. Mizuho boosted their target price on shares of Boyd Gaming from $79.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Stifel Nicolaus raised their price target on shares of Boyd Gaming from $74.00 to $82.00 and gave the company a “hold” rating in a report on Friday, February 7th. Wells Fargo & Company lifted their price objective on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of Boyd Gaming from $74.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.20.

Insider Buying and Selling at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 50,000 shares of the firm’s stock in a transaction 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 sale, the chairman now owns 1,346,628 shares in the company, valued at approximately $104,606,063.04. This trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William R. Boyd sold 15,000 shares of Boyd Gaming stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total transaction 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. The trade was a 1.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,125 shares of company stock worth $5,158,490. Insiders own 27.94% of the company’s stock.

Boyd Gaming Trading Up 0.2 %

Boyd Gaming stock opened at $68.44 on Thursday. The stock has a 50-day moving average price of $74.03 and a 200 day moving average price of $70.88. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 4.46 and a beta of 1.55. Boyd Gaming Co. has a 52 week low of $49.34 and a 52 week high of $80.50. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data 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 net margin of 14.70% and a return on equity of 35.97%. Sell-side analysts anticipate that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a dividend of $0.18 per share. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Monday, March 17th. Boyd Gaming’s dividend payout ratio (DPR) is currently 11.58%.

Boyd Gaming declared that its Board of Directors has authorized a stock buyback plan on Thursday, December 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase plans 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.