Schechter Investment Advisors LLC Lowers Holdings in Boyd Gaming Co. (NYSE:BYD)

Schechter Investment Advisors LLC reduced its position in shares of Boyd Gaming Co. (NYSE:BYD) by 12.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,509 shares of the company’s stock after selling 521 shares during the period. Schechter Investment Advisors LLC’s holdings in Boyd Gaming were worth $255,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in Boyd Gaming by 0.8% during the third quarter. State Street Corp now owns 2,108,672 shares of the company’s stock valued at $136,680,000 after buying an additional 17,591 shares during the period. Geode Capital Management LLC boosted its position in shares of Boyd Gaming by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,153,768 shares of the company’s stock valued at $74,611,000 after acquiring an additional 33,379 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Boyd Gaming by 5.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 971,921 shares of the company’s stock worth $62,835,000 after purchasing an additional 54,128 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Boyd Gaming by 6,158.8% in the third quarter. Victory Capital Management Inc. now owns 908,905 shares of the company’s stock worth $58,761,000 after purchasing an additional 894,383 shares during the last quarter. Finally, 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 valued at $14,569,000 after purchasing an additional 140,707 shares in the last quarter. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Stock Up 1.4 %

Shares of NYSE:BYD opened at $73.34 on Thursday. Boyd Gaming Co. has a 1 year low of $49.34 and a 1 year high of $80.50. 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 stock’s 50-day moving average is $75.23 and its 200 day moving average is $69.96. The company has a market cap of $6.14 billion, a PE ratio of 11.79, a P/E/G ratio of 4.46 and a beta of 1.54.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, February 6th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. Sell-side analysts anticipate that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Increases Dividend

The company also recently disclosed 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 represents a $0.72 annualized dividend and a yield of 0.98%. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Monday, March 17th. Boyd Gaming’s payout ratio is presently 11.58%.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BYD shares. Argus raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Tuesday, December 17th. JMP Securities reissued a “market perform” rating on shares of Boyd Gaming in a research note on Friday, February 7th. Susquehanna lifted their price target on Boyd Gaming from $69.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Truist Financial increased their price objective on Boyd Gaming from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Finally, Stifel Nicolaus boosted their target price on Boyd Gaming from $74.00 to $82.00 and gave the stock a “hold” rating in a research report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.20.

Insider Activity

In related news, Director William R. Boyd sold 15,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were 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 in the company, valued at $116,835,980.40. This trade represents a 1.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christine J. Spadafor sold 1,125 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was 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 in the company, valued at $365,258.56. The trade was a 18.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,785 shares of company stock worth $5,208,439 in the last quarter. 27.94% of the stock is owned by company insiders.

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.