Sanctuary Advisors LLC Buys 836 Shares of Boyd Gaming Co. (NYSE:BYD)

Sanctuary Advisors LLC lifted its stake in Boyd Gaming Co. (NYSE:BYD) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,205 shares of the company’s stock after acquiring an additional 836 shares during the quarter. Sanctuary Advisors LLC’s holdings in Boyd Gaming were worth $3,751,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in BYD. UMB Bank n.a. grew its stake in shares of Boyd Gaming by 80.3% in the fourth quarter. UMB Bank n.a. now owns 393 shares of the company’s stock worth $29,000 after acquiring an additional 175 shares during the period. GAMMA Investing LLC grew its stake in shares of Boyd Gaming by 47.4% in the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock worth $33,000 after acquiring an additional 148 shares during the period. Covestor Ltd grew its stake in shares of Boyd Gaming by 54.9% in the third quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after acquiring an additional 208 shares during the period. Quarry LP grew its stake in shares of Boyd Gaming by 150.1% in the third quarter. Quarry LP now owns 873 shares of the company’s stock worth $56,000 after acquiring an additional 524 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of Boyd Gaming by 921.8% in the third quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock worth $57,000 after acquiring an additional 802 shares during the period. 76.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on BYD shares. StockNews.com upgraded shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Truist Financial boosted their target price on shares of Boyd Gaming from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Susquehanna boosted their target price on shares of Boyd Gaming from $69.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Wells Fargo & Company boosted their target price on shares of Boyd Gaming from $82.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, Stifel Nicolaus boosted their target price on shares of Boyd Gaming from $74.00 to $82.00 and gave the company a “hold” rating in a research report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Boyd Gaming currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

Boyd Gaming Price Performance

Shares of NYSE:BYD opened at $76.86 on Friday. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $80.50. The company has a market capitalization of $6.79 billion, a P/E ratio of 12.36, a P/E/G ratio of 4.47 and a beta of 1.54. The firm’s 50 day simple moving average is $74.77 and its two-hundred day simple moving average is $68.84.

Boyd Gaming (NYSE:BYD) last released its earnings results 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%. Research analysts expect that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The business 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 $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Monday, March 17th. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.17. Boyd Gaming’s payout ratio is 10.93%.

Boyd Gaming announced that its board has initiated a share buyback plan 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 shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Boyd Gaming

In other news, Director William R. Boyd sold 15,000 shares of the business’s stock in a transaction on 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 transaction, the director now owns 1,472,970 shares of the company’s stock, valued at approximately $116,835,980.40. The trade was a 1.01 % 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 Christine J. Spadafor sold 660 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $75.68, for a total transaction of $49,948.80. Following the completion of the transaction, the director now directly owns 5,977 shares in the company, valued at $452,339.36. This trade represents a 9.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,660 shares of company stock valued at $5,123,749. 27.94% of the stock is currently owned by corporate 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.