Kingsview Wealth Management LLC Decreases Holdings in Boyd Gaming Corporation $BYD

Kingsview Wealth Management LLC reduced its position in Boyd Gaming Corporation (NYSE:BYD) by 18.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,012 shares of the company’s stock after selling 7,680 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Boyd Gaming were worth $2,940,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Boyd Gaming by 219.8% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock worth $29,000 after buying an additional 255 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Boyd Gaming by 56.8% in the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after acquiring an additional 196 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Boyd Gaming during the second quarter worth about $39,000. True Wealth Design LLC increased its holdings in shares of Boyd Gaming by 162.1% during the third 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, SJS Investment Consulting Inc. purchased a new position in shares of Boyd Gaming in the 3rd quarter valued at approximately $48,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BYD shares. Truist Financial set a $110.00 target price on shares of Boyd Gaming in a research report on Tuesday, January 13th. Morgan Stanley set a $86.00 price objective on shares of Boyd Gaming in a report on Wednesday, February 11th. Citigroup started coverage on Boyd Gaming in a research report on Thursday, November 20th. They issued a “neutral” rating and a $86.00 target price on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Boyd Gaming in a research report on Wednesday, December 24th. Finally, UBS Group set a $110.00 price objective on Boyd Gaming in a report on Wednesday, December 24th. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $92.58.

Insiders Place Their Bets

In related news, CFO Josh Hirsberg sold 23,924 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $85.86, for a total value of $2,054,114.64. Following the completion of the transaction, the chief financial officer directly owned 435,746 shares in the company, valued at $37,413,151.56. The trade was a 5.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephen S. Thompson sold 19,530 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $83.59, for a total transaction of $1,632,512.70. Following the sale, the insider directly owned 22,009 shares in the company, valued at $1,839,732.31. This trade represents a 47.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 73,454 shares of company stock worth $6,231,827. Corporate insiders own 27.94% of the company’s stock.

Boyd Gaming Trading Up 1.0%

NYSE BYD opened at $82.18 on Thursday. Boyd Gaming Corporation has a 1 year low of $58.94 and a 1 year high of $89.96. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.54 and a quick ratio of 0.52. The company has a market capitalization of $6.20 billion, a PE ratio of 3.61, a P/E/G ratio of 1.71 and a beta of 1.20. The company has a fifty day moving average of $85.08 and a 200 day moving average of $83.84.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, February 5th. The company reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.33. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Boyd Gaming had a return on equity of 30.14% and a net margin of 45.05%.The company’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business posted $1.96 EPS. Research analysts forecast that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 16th. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Boyd Gaming’s dividend payout ratio 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.