Vanguard Group Inc. Lowers Stake in Boyd Gaming Corporation $BYD

Vanguard Group Inc. cut its stake in Boyd Gaming Corporation (NYSE:BYD) by 1.3% in the 3rd quarter, Holdings Channel reports. The fund owned 5,747,531 shares of the company’s stock after selling 73,508 shares during the quarter. Vanguard Group Inc. owned about 0.07% of Boyd Gaming worth $496,874,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position 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 purchasing an additional 255 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Boyd Gaming during the 2nd quarter valued at about $39,000. True Wealth Design LLC raised its holdings in shares of 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 buying an additional 329 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Boyd Gaming by 56.8% during the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after buying an additional 196 shares in the last quarter. Finally, SJS Investment Consulting Inc. bought a new stake in Boyd Gaming in the 3rd quarter worth approximately $48,000. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Trading Down 0.2%

Shares of BYD opened at $85.05 on Thursday. The stock has a market capitalization of $6.42 billion, a P/E ratio of 3.74, a PEG ratio of 1.79 and a beta of 1.24. Boyd Gaming Corporation has a twelve month low of $58.94 and a twelve month high of $89.96. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.78. The firm has a fifty day simple moving average of $85.34 and a two-hundred day simple moving average of $83.83.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, February 5th. The company reported $2.21 EPS for the quarter, beating the consensus estimate of $1.88 by $0.33. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Boyd Gaming had a net margin of 45.05% and a return on equity of 30.14%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.96 earnings per share. On average, research analysts anticipate that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming Increases Dividend

The firm also recently disclosed 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. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, March 16th. This represents a $0.80 annualized dividend and a yield of 0.9%. Boyd Gaming’s dividend payout ratio (DPR) is 3.16%.

Insider Buying and Selling at Boyd Gaming

In other news, Director William R. Boyd sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $84.84, for a total transaction of $2,545,200.00. Following the transaction, the director directly owned 1,930,447 shares of the company’s stock, valued at approximately $163,779,123.48. The trade was a 1.53% 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. Corporate insiders own 27.94% of the company’s stock.

Wall Street Analyst Weigh In

BYD has been the topic of several research reports. UBS Group set a $110.00 price target on shares of Boyd Gaming in a research note on Wednesday, December 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Boyd Gaming in a research report on Monday, December 29th. Citigroup began coverage on shares of Boyd Gaming in a research report on Thursday, November 20th. They set a “neutral” rating and a $86.00 price target for the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Boyd Gaming in a research note on Wednesday, December 24th. Finally, Mizuho set a $100.00 target price on Boyd Gaming in a research note on Monday, February 2nd. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $92.58.

Boyd Gaming Company Profile

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.