Hodges Capital Management Inc. Cuts Stock Holdings in Boyd Gaming Corporation $BYD

Hodges Capital Management Inc. lowered its holdings in Boyd Gaming Corporation (NYSE:BYD) by 32.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,225 shares of the company’s stock after selling 15,555 shares during the quarter. Hodges Capital Management Inc.’s holdings in Boyd Gaming were worth $2,786,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of BYD. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Boyd Gaming by 219.8% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock valued at $29,000 after buying an additional 255 shares during the period. Advisors Asset Management Inc. lifted its holdings in Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after buying an additional 196 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Boyd Gaming during the 2nd quarter valued at $39,000. True Wealth Design LLC boosted its position in Boyd Gaming by 162.1% during the 3rd quarter. True Wealth Design LLC now owns 532 shares of the company’s stock valued at $46,000 after acquiring an additional 329 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Boyd Gaming by 139.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 619 shares of the company’s stock valued at $48,000 after acquiring an additional 361 shares during the period. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BYD shares. Jefferies Financial Group restated a “buy” rating on shares of Boyd Gaming in a research note on Wednesday, December 24th. Macquarie Infrastructure reiterated a “neutral” rating and issued a $90.00 target price on shares of Boyd Gaming in a report on Friday, October 24th. Stifel Nicolaus increased their price target on shares of Boyd Gaming from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, February 6th. Susquehanna cut their price objective on shares of Boyd Gaming from $90.00 to $89.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 11th. Finally, Citigroup began coverage on shares of Boyd Gaming in a research note on Thursday, November 20th. They set a “neutral” rating and a $86.00 price objective for the company. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $92.58.

Boyd Gaming Trading Up 1.6%

Boyd Gaming stock opened at $83.29 on Wednesday. The stock has a 50-day moving average price of $85.27 and a 200 day moving average price of $83.75. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of 3.66, a price-to-earnings-growth ratio of 1.73 and a beta of 1.24. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 0.71. Boyd Gaming Corporation has a 52 week low of $58.94 and a 52 week high of $89.96.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, February 5th. The company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.33. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Boyd Gaming had a net margin of 45.05% and a return on equity of 33.49%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.96 earnings per share. Sell-side analysts anticipate that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. Boyd Gaming’s dividend payout ratio (DPR) is presently 3.16%.

About Boyd Gaming

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.