GC Wealth Management RIA LLC Purchases Shares of 4,229 Boyd Gaming Co. (NYSE:BYD)

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

A number of other large investors have also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Boyd Gaming by 6.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,986 shares of the company’s stock worth $1,232,000 after buying an additional 1,075 shares during the last quarter. AlphaQuest LLC boosted its position in Boyd Gaming by 347.2% in the 4th quarter. AlphaQuest LLC now owns 12,588 shares of the company’s stock valued at $913,000 after buying an additional 9,773 shares during the period. Edgestream Partners L.P. boosted 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 buying an additional 63,026 shares during the period. Raymond James Financial Inc. purchased a new stake in Boyd Gaming in the 4th quarter valued at about $43,273,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Boyd Gaming in the 4th quarter worth approximately $3,847,000. 76.81% of the stock is currently owned by institutional investors.

Insider Activity

In other Boyd Gaming news, Director Christine J. Spadafor sold 660 shares of the 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 sale, the director now owns 5,977 shares of the company’s stock, valued at $452,339.36. This trade represents a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $1,189,800.00. Following the sale, 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. Insiders sold a total of 66,785 shares of company stock valued at $5,208,439 in the last 90 days. 27.94% of the stock is currently owned by insiders.

Boyd Gaming Price Performance

Shares of NYSE BYD opened at $66.86 on Wednesday. The firm has a market capitalization of $5.60 billion, a P/E ratio of 10.75, a PEG ratio of 4.46 and a beta of 1.55. Boyd Gaming Co. has a one year low of $49.34 and a one year high of $80.50. The company’s fifty day moving average is $74.95 and its two-hundred day moving average is $70.32. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.96 EPS for the quarter, topping 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%. Analysts forecast that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming announced that its Board of Directors has authorized a share repurchase plan on Thursday, December 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 7.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Boyd Gaming Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BYD shares. StockNews.com cut shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th. Truist Financial upped their price target on shares of Boyd Gaming from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Susquehanna increased their price objective on shares of Boyd Gaming from $69.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. 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. Finally, Jefferies Financial Group raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and increased their price target for the stock from $73.00 to $92.00 in a report on Friday, January 3rd. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.20.

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.