Victory Capital Management Inc. Purchases 894,383 Shares of Boyd Gaming Co. (NYSE:BYD)

Victory Capital Management Inc. lifted its holdings in Boyd Gaming Co. (NYSE:BYD) by 6,158.8% in the third quarter, HoldingsChannel reports. The firm owned 908,905 shares of the company’s stock after purchasing an additional 894,383 shares during the quarter. Victory Capital Management Inc.’s holdings in Boyd Gaming were worth $58,761,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Long Pond Capital LP purchased a new position in shares of Boyd Gaming in the 2nd quarter worth $20,440,000. Ariel Investments LLC lifted its holdings in shares of Boyd Gaming by 12.5% in the 2nd quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock valued at $167,046,000 after acquiring an additional 335,984 shares during the last quarter. Boston Partners increased its stake in Boyd Gaming by 10.0% during the first quarter. Boston Partners now owns 3,031,091 shares of the company’s stock worth $203,276,000 after acquiring an additional 274,876 shares during the last quarter. Beck Bode LLC purchased a new stake in Boyd Gaming during the first quarter valued at approximately $15,985,000. Finally, American Century Companies Inc. lifted its stake in shares of Boyd Gaming by 19.7% in the 2nd quarter. American Century Companies Inc. now owns 1,149,701 shares of the company’s stock valued at $63,349,000 after purchasing an additional 189,226 shares during the last quarter. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Trading Down 0.7 %

NYSE BYD opened at $73.02 on Friday. Boyd Gaming Co. has a one year low of $49.34 and a one year high of $74.78. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 9.64 and a beta of 1.55. The company’s 50-day simple moving average is $65.74 and its two-hundred day simple moving average is $59.26.

Boyd Gaming Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Sunday, September 15th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Friday, September 13th. Boyd Gaming’s payout ratio is 12.98%.

Insider Buying and Selling

In other Boyd Gaming news, CEO Keith Smith sold 40,000 shares of Boyd Gaming stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $73.49, for a total value of $2,939,600.00. Following the transaction, the chief executive officer now owns 1,161,202 shares in the company, valued at $85,336,734.98. The trade was a 3.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Josh Hirsberg sold 21,549 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $71.43, for a total transaction of $1,539,245.07. Following the sale, the chief financial officer now directly owns 438,615 shares of the company’s stock, valued at approximately $31,330,269.45. The trade was a 4.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 161,076 shares of company stock valued at $10,702,931 over the last 90 days. Corporate insiders own 27.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BYD. Morgan Stanley raised their price target on Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Mizuho restated an “outperform” rating and issued a $79.00 target price (up previously from $78.00) on shares of Boyd Gaming in a report on Friday, October 25th. Macquarie dropped their price target on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Stifel Nicolaus increased their price objective on shares of Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Finally, Truist Financial boosted their target price on Boyd Gaming from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.38.

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.