Landscape Capital Management L.L.C. Lowers Stock Position in Boyd Gaming Corporation $BYD

Landscape Capital Management L.L.C. cut its stake in shares of Boyd Gaming Corporation (NYSE:BYD) by 68.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 17,513 shares of the company’s stock after selling 37,630 shares during the period. Landscape Capital Management L.L.C.’s holdings in Boyd Gaming were worth $1,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Boyd Gaming by 18.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,755,659 shares of the company’s stock worth $149,652,000 after purchasing an additional 277,529 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Boyd Gaming by 11.1% during the fourth quarter. Franklin Resources Inc. now owns 1,357,412 shares of the company’s stock worth $115,706,000 after purchasing an additional 136,129 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Boyd Gaming by 26.7% during the fourth quarter. Geode Capital Management LLC now owns 1,355,209 shares of the company’s stock worth $115,537,000 after purchasing an additional 285,719 shares during the period. Nuveen LLC lifted its holdings in shares of Boyd Gaming by 10.6% during the fourth quarter. Nuveen LLC now owns 1,080,331 shares of the company’s stock worth $92,087,000 after purchasing an additional 103,684 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Boyd Gaming by 12.4% during the fourth quarter. Victory Capital Management Inc. now owns 969,264 shares of the company’s stock worth $82,620,000 after purchasing an additional 106,638 shares during the period. 76.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 62,914 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $84.03, for a total value of $5,286,663.42. Following the completion of the sale, the chairman owned 1,609,808 shares of the company’s stock, valued at approximately $135,272,166.24. This trade represents a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Keith Smith sold 100,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $85.90, for a total value of $8,590,000.00. Following the completion of the sale, the chief executive officer directly owned 996,981 shares of the company’s stock, valued at approximately $85,640,667.90. This trade represents a 9.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 200,000 shares of company stock valued at $17,038,987. 22.82% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wells Fargo & Company decreased their price target on Boyd Gaming from $84.00 to $83.00 and set an “equal weight” rating for the company in a report on Thursday, April 16th. JPMorgan Chase & Co. increased their price target on Boyd Gaming from $89.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Morgan Stanley reaffirmed a “mixed” rating on shares of Boyd Gaming in a report on Wednesday, April 8th. Stifel Nicolaus decreased their price target on Boyd Gaming from $95.00 to $91.00 and set a “hold” rating for the company in a report on Friday, April 24th. Finally, Susquehanna decreased their price target on Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Boyd Gaming has a consensus rating of “Hold” and a consensus price target of $92.08.

Boyd Gaming Price Performance

Boyd Gaming stock opened at $87.49 on Tuesday. Boyd Gaming Corporation has a one year low of $73.90 and a one year high of $89.96. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.60. The business has a fifty day moving average of $84.62 and a two-hundred day moving average of $84.23. The company has a market cap of $6.50 billion, a P/E ratio of 3.84, a price-to-earnings-growth ratio of 2.04 and a beta of 1.08.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, April 23rd. The company reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.16). Boyd Gaming had a net margin of 44.84% and a return on equity of 25.63%. The business had revenue of $997.36 million during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business posted $1.62 EPS. Boyd Gaming’s revenue was up .6% compared to the same quarter last year. As a group, analysts predict that Boyd Gaming Corporation will post 7.32 earnings per share for the current fiscal year.

Boyd Gaming declared that its Board of Directors has authorized a share repurchase plan on Thursday, April 23rd that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. Boyd Gaming’s dividend payout ratio (DPR) is 3.51%.

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.