Boston Partners Sells 22,203 Shares of Boyd Gaming Corporation (NYSE:BYD)

Boston Partners cut its stake in Boyd Gaming Corporation (NYSE:BYD) by 0.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,933,341 shares of the company’s stock after selling 22,203 shares during the period. Boston Partners’ holdings in Boyd Gaming were worth $258,928,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. CoreCap Advisors LLC raised its stake in shares of Boyd Gaming by 91.0% in the fourth quarter. CoreCap Advisors LLC now owns 573 shares of the company’s stock worth $42,000 after acquiring an additional 273 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Boyd Gaming by 68.0% in the first quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock worth $51,000 after acquiring an additional 313 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Boyd Gaming by 156.0% in the first quarter. UMB Bank n.a. now owns 1,006 shares of the company’s stock worth $66,000 after acquiring an additional 613 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Boyd Gaming by 28.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,210 shares of the company’s stock worth $80,000 after acquiring an additional 265 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its stake in shares of Boyd Gaming by 76.9% during the first quarter. Golden State Wealth Management LLC now owns 1,636 shares of the company’s stock worth $108,000 after buying an additional 711 shares during the last quarter. 76.81% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Stephen S. Thompson sold 15,906 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $83.25, for a total transaction of $1,324,174.50. Following the completion of the transaction, the insider owned 38,609 shares in the company, valued at approximately $3,214,199.25. This represents a 29.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Ted Bogich sold 16,497 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $83.18, for a total transaction of $1,372,220.46. Following the transaction, the chief operating officer owned 45,116 shares of the company’s stock, valued at $3,752,748.88. The trade was a 26.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,403 shares of company stock worth $3,757,196 over the last quarter. 27.94% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Truist Financial boosted their price target on shares of Boyd Gaming from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. assumed coverage on shares of Boyd Gaming in a research note on Monday, June 23rd. They set a “neutral” rating and a $79.00 price target for the company. Morgan Stanley reissued a “sell” rating on shares of Boyd Gaming in a research note on Friday, July 11th. Macquarie boosted their price target on shares of Boyd Gaming from $74.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Finally, Mizuho boosted their price target on shares of Boyd Gaming from $86.00 to $89.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.62.

Boyd Gaming Stock Performance

Shares of BYD stock opened at $84.37 on Thursday. The company has a market capitalization of $6.76 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 2.36 and a beta of 1.24. Boyd Gaming Corporation has a 52 week low of $55.91 and a 52 week high of $87.76. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86. The company’s 50 day moving average price is $80.41 and its two-hundred day moving average price is $74.48.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, July 24th. The company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.20. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $976.81 million. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.58 earnings per share. On average, analysts expect that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

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.