Boyd Gaming Co. (NYSE:BYD) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its holdings in Boyd Gaming Co. (NYSE:BYD - Free Report) by 47.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,126 shares of the company's stock after selling 8,307 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Boyd Gaming were worth $590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. raised its stake in shares of Boyd Gaming by 6,158.8% in the third quarter. Victory Capital Management Inc. now owns 908,905 shares of the company's stock worth $58,761,000 after purchasing an additional 894,383 shares during the last quarter. Long Pond Capital LP purchased a new position in shares of Boyd Gaming during the 2nd quarter worth $20,440,000. Ariel Investments LLC lifted its position in Boyd Gaming by 12.5% during the second quarter. Ariel Investments LLC now owns 3,031,691 shares of the company's stock valued at $167,046,000 after purchasing an additional 335,984 shares in the last quarter. Boston Partners grew its stake in shares of 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. Finally, Beck Bode LLC purchased a new stake in shares of Boyd Gaming in the first quarter worth $15,985,000. Institutional investors own 76.81% of the company's stock.

Insider Activity at Boyd Gaming

In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the transaction, the chairman now directly owns 1,423,498 shares in the company, valued at $85,737,284.54. This represents a 4.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christine J. Spadafor sold 1,242 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the transaction, the director now directly owns 1,096 shares in the company, valued at approximately $66,154.56. This represents a 53.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 161,076 shares of company stock worth $10,702,931 over the last 90 days. Company insiders own 27.94% of the company's stock.

Boyd Gaming Stock Performance

NYSE BYD traded down $0.58 on Friday, reaching $72.43. The stock had a trading volume of 903,102 shares, compared to its average volume of 924,308. The stock has a market cap of $6.40 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 9.60 and a beta of 1.55. The business's 50-day moving average price is $65.99 and its 200 day moving average price is $59.39. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. Boyd Gaming Co. has a 12-month low of $49.34 and a 12-month high of $74.78.

Boyd Gaming Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Sunday, September 15th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Friday, September 13th. Boyd Gaming's payout ratio is 12.98%.

Analysts Set New Price Targets

Several research firms have recently issued reports on BYD. Truist Financial lifted their price objective on shares of Boyd Gaming from $75.00 to $77.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on Boyd Gaming from $68.00 to $69.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Wells Fargo & Company lifted their price target 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. Mizuho reaffirmed an "outperform" rating and issued a $79.00 price objective (up previously from $78.00) on shares of Boyd Gaming in a research report on Friday, October 25th. Finally, StockNews.com raised shares of Boyd Gaming from a "buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Boyd Gaming presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.38.

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.