Gabelli Funds LLC trimmed its holdings in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 9.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,500 shares of the company's stock after selling 14,800 shares during the quarter. Gabelli Funds LLC owned 0.15% of Boyd Gaming worth $9,829,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Cohen & Steers Inc. raised its position in Boyd Gaming by 0.4% during the 4th quarter. Cohen & Steers Inc. now owns 5,265,454 shares of the company's stock worth $381,929,000 after purchasing an additional 21,616 shares during the last quarter. Boston Partners raised its position in shares of Boyd Gaming by 36.9% during the fourth quarter. Boston Partners now owns 3,955,544 shares of the company's stock worth $287,185,000 after purchasing an additional 1,065,887 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Boyd Gaming by 51.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company's stock valued at $94,074,000 after purchasing an additional 441,963 shares during the period. Geode Capital Management LLC raised its holdings in Boyd Gaming by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,153,768 shares of the company's stock worth $74,611,000 after buying an additional 33,379 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Boyd Gaming by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 974,973 shares of the company's stock valued at $70,725,000 after buying an additional 3,052 shares in the last quarter. Institutional investors own 76.81% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. Stifel Nicolaus lifted their price target on Boyd Gaming from $74.00 to $82.00 and gave the company a "hold" rating in a research note on Friday, February 7th. Mizuho raised their price objective on Boyd Gaming from $79.00 to $86.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Morgan Stanley reduced their target price on shares of Boyd Gaming from $75.00 to $72.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. boosted their price target on shares of Boyd Gaming from $74.00 to $80.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Finally, Barclays increased their price objective on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.27.
Read Our Latest Research Report on BYD
Boyd Gaming Stock Performance
Shares of NYSE:BYD traded up $1.43 during midday trading on Tuesday, reaching $65.17. 223,527 shares of the company traded hands, compared to its average volume of 988,330. Boyd Gaming Co. has a 12 month low of $49.34 and a 12 month high of $80.50. The firm's fifty day moving average price is $69.32 and its two-hundred day moving average price is $71.11. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 4.46 and a beta of 1.31.
Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. On average, equities analysts expect that Boyd Gaming Co. will post 6.52 earnings per share for the current year.
Boyd Gaming Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.72 annualized dividend and a dividend yield of 1.10%. This is a boost from Boyd Gaming's previous quarterly dividend of $0.17. Boyd Gaming's dividend payout ratio is presently 11.58%.
Insider Activity at Boyd Gaming
In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total value of $3,884,000.00. Following the completion of the transaction, the chairman now owns 1,346,628 shares of the company's stock, valued at $104,606,063.04. The trade was a 3.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William R. Boyd sold 15,000 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the completion of the transaction, the director now owns 1,472,970 shares of the company's stock, valued at $116,835,980.40. This trade represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,125 shares of company stock valued at $5,158,490. Company insiders own 27.94% of the company's stock.
Boyd Gaming Company Profile
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Free Report)
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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