Raymond James & Associates lowered its position in Boyd Gaming Co. (NYSE:BYD – Free Report) by 27.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,960 shares of the company’s stock after selling 31,645 shares during the quarter. Raymond James & Associates owned approximately 0.09% of Boyd Gaming worth $5,257,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Prospera Financial Services Inc grew its stake in Boyd Gaming by 3.1% in the first quarter. Prospera Financial Services Inc now owns 5,306 shares of the company’s stock valued at $340,000 after purchasing an additional 159 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Boyd Gaming by 15.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 1,575 shares of the company’s stock worth $109,000 after acquiring an additional 205 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Boyd Gaming by 105.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock worth $25,000 after acquiring an additional 211 shares in the last quarter. Great Lakes Advisors LLC boosted its stake in shares of Boyd Gaming by 3.7% during the 3rd quarter. Great Lakes Advisors LLC now owns 5,971 shares of the company’s stock worth $363,000 after acquiring an additional 213 shares in the last quarter. Finally, Lmcg Investments LLC boosted its stake in shares of Boyd Gaming by 2.2% during the 3rd quarter. Lmcg Investments LLC now owns 12,257 shares of the company’s stock worth $746,000 after acquiring an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on BYD shares. Barclays upped their price target on Boyd Gaming from $66.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Mizuho began coverage on Boyd Gaming in a research report on Tuesday, March 26th. They set a “buy” rating and a $80.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on Boyd Gaming from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Susquehanna reissued a “neutral” rating and set a $75.00 price objective (down previously from $84.00) on shares of Boyd Gaming in a research report on Monday, February 12th. Finally, Wells Fargo & Company boosted their price objective on Boyd Gaming from $81.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Boyd Gaming presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.30.
Check Out Our Latest Stock Analysis on BYD
Boyd Gaming Trading Down 2.4 %
Shares of BYD opened at $65.08 on Thursday. Boyd Gaming Co. has a 1 year low of $52.42 and a 1 year high of $73.00. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. The stock has a 50 day simple moving average of $64.42 and a 200-day simple moving average of $61.76. The stock has a market cap of $6.23 billion, a PE ratio of 10.67, a PEG ratio of 3.05 and a beta of 1.60.
Boyd Gaming (NYSE:BYD – Get Free Report) last issued its earnings results on Thursday, February 8th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.23. The business had revenue of $954.41 million during the quarter, compared to analysts’ expectations of $928.04 million. Boyd Gaming had a return on equity of 36.97% and a net margin of 16.58%. Boyd Gaming’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.72 EPS. On average, sell-side analysts predict that Boyd Gaming Co. will post 6.21 EPS for the current fiscal year.
Boyd Gaming Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, March 14th. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.04%. Boyd Gaming’s dividend payout ratio is 11.15%.
Insider Buying and Selling
In related news, major shareholder William S. Boyd sold 125,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly 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 can be accessed through this hyperlink. In related news, major shareholder William S. Boyd sold 125,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly 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 can be accessed through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 77,661 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $64.87, for a total value of $5,037,869.07. Following the completion of the transaction, the chairman now owns 1,511,433 shares in the company, valued at $98,046,658.71. The disclosure for this sale can be found here. Insiders have sold a total of 582,910 shares of company stock worth $37,299,461 in the last three months. Insiders own 28.40% of the company’s stock.
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.
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