Citigroup Inc. Increases Stake in Boyd Gaming Corporation $BYD

Citigroup Inc. increased its stake in Boyd Gaming Corporation (NYSE:BYD) by 94.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 229,823 shares of the company’s stock after purchasing an additional 111,815 shares during the period. Citigroup Inc.’s holdings in Boyd Gaming were worth $19,868,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Alps Advisors Inc. lifted its stake in shares of Boyd Gaming by 2.7% during the third quarter. Alps Advisors Inc. now owns 5,384 shares of the company’s stock worth $465,000 after buying an additional 141 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Boyd Gaming by 4.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,434 shares of the company’s stock valued at $371,000 after acquiring an additional 170 shares during the period. Advisors Asset Management Inc. raised its stake in Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after acquiring an additional 196 shares during the last quarter. Blue Trust Inc. lifted its position in Boyd Gaming by 61.0% during the 3rd quarter. Blue Trust Inc. now owns 657 shares of the company’s stock worth $57,000 after acquiring an additional 249 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Boyd Gaming by 219.8% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock valued at $29,000 after purchasing an additional 255 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

Insider Buying and Selling

In other Boyd Gaming news, Director William R. Boyd sold 30,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $84.84, for a total transaction of $2,545,200.00. Following the completion of the transaction, the director owned 1,930,447 shares of the company’s stock, valued at $163,779,123.48. This represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 27.94% of the company’s stock.

Boyd Gaming Trading Up 3.4%

Shares of NYSE:BYD opened at $87.82 on Friday. The business’s 50 day moving average price is $85.38 and its 200-day moving average price is $83.86. Boyd Gaming Corporation has a 1 year low of $58.94 and a 1 year high of $89.96. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 3.86, a price-to-earnings-growth ratio of 1.79 and a beta of 1.24. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.54 and a quick ratio of 0.49.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, February 5th. The company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.33. Boyd Gaming had a net margin of 45.05% and a return on equity of 30.14%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the business posted $1.96 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts forecast that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, March 16th. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.18. Boyd Gaming’s payout ratio is presently 3.16%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Truist Financial set a $110.00 price objective on Boyd Gaming in a research note on Tuesday, January 13th. Stifel Nicolaus raised their price target on shares of Boyd Gaming from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, February 6th. Mizuho set a $100.00 price objective on shares of Boyd Gaming in a research note on Monday, February 2nd. Citigroup assumed coverage on shares of Boyd Gaming in a research note on Thursday, November 20th. They issued a “neutral” rating and a $86.00 price objective on the stock. Finally, Wells Fargo & Company reduced their target price on shares of Boyd Gaming from $85.00 to $84.00 and set an “equal weight” rating for the company in a report on Monday, February 9th. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $92.58.

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.