Parkside Financial Bank & Trust Has $41,000 Stock Holdings in Boyd Gaming Co. (NYSE:BYD)

Parkside Financial Bank & Trust increased its position in shares of Boyd Gaming Co. (NYSE:BYD) by 57.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 647 shares of the company’s stock after buying an additional 236 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Boyd Gaming were worth $41,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC boosted its holdings in Boyd Gaming by 16.9% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 14,893 shares of the company’s stock valued at $932,000 after purchasing an additional 2,155 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in Boyd Gaming by 6.8% during the fourth quarter. New York State Common Retirement Fund now owns 348,854 shares of the company’s stock valued at $21,842,000 after purchasing an additional 22,164 shares in the last quarter. Cetera Trust Company N.A acquired a new stake in Boyd Gaming during the fourth quarter valued at approximately $170,000. Knights of Columbus Asset Advisors LLC boosted its holdings in Boyd Gaming by 37.1% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 1,882 shares of the company’s stock valued at $118,000 after purchasing an additional 509 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Boyd Gaming by 4.2% during the fourth quarter. Federated Hermes Inc. now owns 78,453 shares of the company’s stock valued at $4,912,000 after purchasing an additional 3,132 shares in the last quarter. 76.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BYD. JPMorgan Chase & Co. downgraded Boyd Gaming from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $80.00 to $67.00 in a report on Friday. Mizuho reduced their target price on Boyd Gaming from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com raised Boyd Gaming from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Truist Financial reduced their target price on Boyd Gaming from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Friday. Finally, Wells Fargo & Company reduced their target price on Boyd Gaming from $82.00 to $71.00 and set an “overweight” rating on the stock in a report on Friday. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $72.20.

Boyd Gaming Stock Performance

Shares of Boyd Gaming stock 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 stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 2.98 and a beta of 1.60. Boyd Gaming Co. has a 52 week low of $52.42 and a 52 week high of $73.00. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 0.89.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, February 8th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.43 by $0.23. The company had revenue of $954.41 million during the quarter, compared to analysts’ expectations of $928.04 million. Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 EPS. As a group, equities research analysts predict that Boyd Gaming Co. will post 6.19 EPS for the current year.

Boyd Gaming Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a $0.17 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.16. Boyd Gaming’s dividend payout ratio is currently 11.15%.

Insider Activity at Boyd Gaming

In related news, major shareholder William S. Boyd sold 125,000 shares of the company’s 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 completion of the sale, the insider now owns 9,358,913 shares in the company, valued at approximately $596,817,882.01. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, major shareholder William S. Boyd sold 63,464 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total value of $4,005,847.68. Following the completion of the transaction, the insider now directly owns 8,795,449 shares of the company’s stock, valued at approximately $555,168,740.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder William S. Boyd sold 125,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $63.77, for a total transaction of $7,971,250.00. Following the completion of the transaction, the insider now directly owns 9,358,913 shares of the company’s stock, valued at $596,817,882.01. The disclosure for this sale can be found here. Insiders sold a total of 582,910 shares of company stock worth $37,299,461 in the last quarter. Corporate insiders own 27.94% of the company’s stock.

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.