Boyd Gaming Co. (NYSE:BYD) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. raised its holdings in shares of Boyd Gaming Co. (NYSE:BYD) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 78,453 shares of the company’s stock after buying an additional 3,132 shares during the period. Federated Hermes Inc. owned about 0.08% of Boyd Gaming worth $4,912,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its holdings in Boyd Gaming by 105.5% during the third quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock worth $25,000 after buying an additional 211 shares in the last quarter. Rakuten Securities Inc. bought a new stake in Boyd Gaming during the fourth quarter worth approximately $30,000. Allworth Financial LP boosted its holdings in Boyd Gaming by 3,333.3% during the fourth quarter. Allworth Financial LP now owns 1,030 shares of the company’s stock worth $64,000 after buying an additional 1,000 shares in the last quarter. Blue Trust Inc. boosted its stake in Boyd Gaming by 20,342.9% in the 4th quarter. Blue Trust Inc. now owns 1,431 shares of the company’s stock worth $87,000 after purchasing an additional 1,424 shares during the period. Finally, Blueshift Asset Management LLC acquired a new position in Boyd Gaming in the 3rd quarter worth approximately $225,000. 76.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on BYD. Wells Fargo & Company decreased their price objective on shares of Boyd Gaming from $82.00 to $71.00 and set an “overweight” rating for the company in a research note on Friday. Mizuho decreased their price objective on shares of Boyd Gaming from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Friday. Morgan Stanley raised their price objective on shares of Boyd Gaming from $71.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Barclays decreased their price objective on shares of Boyd Gaming from $70.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $75.00 price objective (down previously from $84.00) on shares of Boyd Gaming in a research note on Monday, February 12th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $72.20.

Insider Activity

In other news, major shareholder William S. Boyd sold 63,464 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the transaction, the insider now owns 8,795,449 shares in the company, valued at approximately $555,168,740.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder William S. Boyd sold 125,000 shares of Boyd Gaming stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $63.77, for a total value of $7,971,250.00. Following the transaction, the insider now owns 9,358,913 shares in the company, valued at approximately $596,817,882.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder William S. Boyd sold 63,464 shares of Boyd Gaming stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the completion of the transaction, the insider now owns 8,795,449 shares in the company, valued at approximately $555,168,740.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 582,910 shares of company stock worth $37,299,461. 27.94% of the stock is owned by corporate insiders.

Boyd Gaming Trading Down 15.4 %

Shares of NYSE:BYD opened at $53.18 on Friday. The firm has a fifty day moving average of $63.98 and a two-hundred day moving average of $62.01. The firm has a market capitalization of $5.09 billion, a P/E ratio of 8.72, a price-to-earnings-growth ratio of 2.98 and a beta of 1.60. Boyd Gaming Co. has a 12-month low of $52.42 and a 12-month high of $73.00. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 1.65.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The business had revenue of $954.41 million for the quarter, compared to the consensus estimate of $928.04 million. Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. Boyd Gaming’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.72 EPS. On average, equities analysts expect that Boyd Gaming Co. will post 6.19 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.16. Boyd Gaming’s dividend payout ratio (DPR) is currently 11.15%.

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.