Boyd Gaming Co. (NYSE:BYD) Shares Sold by Man Group plc

Man Group plc trimmed its position in Boyd Gaming Co. (NYSE:BYD) by 27.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 228,936 shares of the company’s stock after selling 88,489 shares during the quarter. Man Group plc’s holdings in Boyd Gaming were worth $16,607,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. UMB Bank n.a. raised its holdings in shares of Boyd Gaming by 80.3% in the 4th quarter. UMB Bank n.a. now owns 393 shares of the company’s stock valued at $29,000 after purchasing an additional 175 shares in the last quarter. Cetera Trust Company N.A raised its stake in Boyd Gaming by 6.2% during the 4th quarter. Cetera Trust Company N.A now owns 3,535 shares of the company’s stock worth $256,000 after acquiring an additional 205 shares in the last quarter. CoreCap Advisors LLC raised its stake in Boyd Gaming by 91.0% during the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company’s stock worth $42,000 after acquiring an additional 273 shares in the last quarter. US Bancorp DE raised its stake in Boyd Gaming by 13.6% during the 4th quarter. US Bancorp DE now owns 2,943 shares of the company’s stock worth $213,000 after acquiring an additional 353 shares in the last quarter. Finally, Keybank National Association OH raised its stake in Boyd Gaming by 2.6% during the 4th quarter. Keybank National Association OH now owns 14,039 shares of the company’s stock worth $1,018,000 after acquiring an additional 362 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Boyd Gaming Trading Up 0.6%

Shares of Boyd Gaming stock opened at $75.90 on Friday. Boyd Gaming Co. has a 1 year low of $49.34 and a 1 year high of $80.50. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The company has a market capitalization of $6.18 billion, a P/E ratio of 12.20, a PEG ratio of 4.46 and a beta of 1.32. The company’s fifty day moving average is $67.78 and its two-hundred day moving average is $71.76.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.10. The business had revenue of $991.57 million for the quarter, compared to the consensus estimate of $976.38 million. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.51 earnings per share. Analysts forecast that Boyd Gaming Co. will post 6.52 earnings per share for the current year.

Boyd Gaming Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Monday, June 16th. Boyd Gaming’s payout ratio is 11.75%.

Insider Activity

In other news, Director William R. Boyd sold 15,000 shares of Boyd Gaming stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total value of $1,189,800.00. Following the sale, the director now owns 1,472,970 shares of the company’s stock, valued at $116,835,980.40. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christine J. Spadafor sold 1,125 shares of Boyd Gaming stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $75.28, for a total transaction of $84,690.00. Following the completion of the sale, the director now directly owns 4,852 shares in the company, valued at approximately $365,258.56. The trade was a 18.82% decrease in their position. The disclosure for this sale can be found here. Insiders own 27.94% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on BYD shares. Wells Fargo & Company lifted their price target on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. StockNews.com lowered shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th. Truist Financial cut their price target on shares of Boyd Gaming from $92.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Susquehanna lifted their price target on shares of Boyd Gaming from $75.00 to $76.00 and gave the stock a “positive” rating in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Boyd Gaming from $74.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $78.69.

Boyd Gaming Company Profile

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.