Danske Bank A S Takes $10.24 Million Position in Boyd Gaming Corporation $BYD

Danske Bank A S bought a new stake in Boyd Gaming Corporation (NYSE:BYD) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 120,149 shares of the company’s stock, valued at approximately $10,242,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of Boyd Gaming by 11.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,478,130 shares of the company’s stock valued at $127,784,000 after purchasing an additional 153,462 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Boyd Gaming by 16.6% in the third quarter. Franklin Resources Inc. now owns 1,221,283 shares of the company’s stock valued at $105,580,000 after purchasing an additional 173,868 shares during the last quarter. Invesco Ltd. increased its position in shares of Boyd Gaming by 109.8% during the third quarter. Invesco Ltd. now owns 654,434 shares of the company’s stock valued at $56,576,000 after acquiring an additional 342,575 shares during the last quarter. UBS Group AG increased its position in shares of Boyd Gaming by 196.9% during the fourth quarter. UBS Group AG now owns 611,207 shares of the company’s stock valued at $52,099,000 after acquiring an additional 405,340 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of Boyd Gaming by 0.5% during the third quarter. Raymond James Financial Inc. now owns 600,065 shares of the company’s stock valued at $51,876,000 after acquiring an additional 3,089 shares during the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays decreased their price target on Boyd Gaming from $87.00 to $86.00 and set an “equal weight” rating for the company in a research report on Friday, April 24th. Morgan Stanley reaffirmed a “mixed” rating on shares of Boyd Gaming in a research report on Wednesday, April 8th. Susquehanna decreased their price target on Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Truist Financial set a $110.00 price objective on shares of Boyd Gaming in a report on Tuesday, January 13th. Finally, Mizuho decreased their price objective on shares of Boyd Gaming from $99.00 to $96.00 and set an “outperform” rating for the company in a report on Friday, April 24th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Boyd Gaming presently has a consensus rating of “Hold” and a consensus target price of $92.08.

Insider Transactions at Boyd Gaming

In other news, CFO Josh Hirsberg sold 23,924 shares of Boyd Gaming stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $85.86, for a total value of $2,054,114.64. Following the completion of the transaction, the chief financial officer owned 435,746 shares in the company, valued at $37,413,151.56. This trade represents a 5.20% 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, insider Stephen S. Thompson sold 19,530 shares of Boyd Gaming stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $83.59, for a total transaction of $1,632,512.70. Following the completion of the transaction, the insider owned 22,009 shares of the company’s stock, valued at $1,839,732.31. The trade was a 47.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 73,454 shares of company stock worth $6,231,827 over the last quarter. Corporate insiders own 22.82% of the company’s stock.

Boyd Gaming Stock Performance

NYSE:BYD opened at $82.80 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.60 and a quick ratio of 0.58. The business has a fifty day simple moving average of $84.08 and a two-hundred day simple moving average of $83.60. Boyd Gaming Corporation has a 1 year low of $68.98 and a 1 year high of $89.96. The company has a market capitalization of $6.24 billion, a P/E ratio of 3.63, a P/E/G ratio of 1.93 and a beta of 1.11.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, April 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.16). Boyd Gaming had a return on equity of 25.63% and a net margin of 44.84%.The firm had revenue of $997.36 million during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the business earned $1.62 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. On average, analysts expect that Boyd Gaming Corporation will post 7.41 earnings per share for the current year.

Boyd Gaming Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th were paid a $0.20 dividend. The ex-dividend date was Monday, March 16th. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. Boyd Gaming’s dividend payout ratio is 3.51%.

Boyd Gaming declared that its Board of Directors has authorized a stock buyback plan on Thursday, April 23rd that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Boyd Gaming Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.