Chartwell Investment Partners LLC Sells 9,913 Shares of Boyd Gaming Co. (NYSE:BYD)

Chartwell Investment Partners LLC reduced its stake in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 33.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,373 shares of the company's stock after selling 9,913 shares during the period. Chartwell Investment Partners LLC's holdings in Boyd Gaming were worth $1,253,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Long Pond Capital LP purchased a new position in shares of Boyd Gaming in the second quarter worth about $20,440,000. Ariel Investments LLC grew its stake in 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 buying an additional 335,984 shares in the last quarter. Boston Partners raised its holdings in Boyd Gaming by 10.0% during the 1st quarter. Boston Partners now owns 3,031,091 shares of the company's stock valued at $203,276,000 after acquiring an additional 274,876 shares during the period. Beck Bode LLC purchased a new stake in shares of Boyd Gaming during the first quarter worth $15,985,000. Finally, Scout Investments Inc. boosted its holdings in shares of Boyd Gaming by 68.7% in the first quarter. Scout Investments Inc. now owns 487,441 shares of the company's stock worth $32,985,000 after acquiring an additional 198,490 shares during the period. Hedge funds and other institutional investors own 76.81% of the company's stock.

Boyd Gaming Price Performance

NYSE:BYD traded down $0.32 during midday trading on Wednesday, hitting $73.55. The company had a trading volume of 649,221 shares, compared to its average volume of 923,806. The company has a market capitalization of $6.50 billion, a PE ratio of 14.04, a P/E/G ratio of 9.64 and a beta of 1.55. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. Boyd Gaming Co. has a 52-week low of $49.34 and a 52-week high of $74.78. The stock's fifty day moving average price is $65.48 and its 200-day moving average price is $59.16.

Boyd Gaming Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Sunday, September 15th were given a dividend of $0.17 per share. The ex-dividend date was Friday, September 13th. This represents a $0.68 annualized dividend and a dividend yield of 0.92%. Boyd Gaming's dividend payout ratio (DPR) is presently 12.98%.

Analysts Set New Price Targets

A number of research firms recently issued reports on BYD. Bank of America boosted their price objective on Boyd Gaming from $68.00 to $72.00 and gave the company a "buy" rating in a research note on Tuesday, September 17th. Macquarie decreased their price target on Boyd Gaming from $72.00 to $68.00 and set a "neutral" rating on the stock in a research report on Friday, July 26th. Stifel Nicolaus raised their price objective on shares of Boyd Gaming from $67.00 to $74.00 and gave the company a "hold" rating in a research report on Friday, October 25th. Morgan Stanley boosted their price objective on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company increased their target price on shares of Boyd Gaming from $75.00 to $79.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boyd Gaming currently has a consensus rating of "Moderate Buy" and an average target price of $91.38.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, CFO Josh Hirsberg sold 21,549 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $71.43, for a total value of $1,539,245.07. Following the completion of the sale, the chief financial officer now owns 438,615 shares of the company's stock, valued at $31,330,269.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of Boyd Gaming stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $60.23, for a total value of $4,404,619.90. Following the transaction, the chairman now owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Josh Hirsberg sold 21,549 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $71.43, for a total value of $1,539,245.07. Following the completion of the sale, the chief financial officer now directly owns 438,615 shares of the company's stock, valued at approximately $31,330,269.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,076 shares of company stock valued at $7,763,331. Corporate insiders own 27.94% of the company's stock.

Boyd Gaming Company 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.