Harvest Portfolios Group Inc. Sells 2,091 Shares of Boyd Gaming Corporation $BYD

Harvest Portfolios Group Inc. reduced its holdings in shares of Boyd Gaming Corporation (NYSE:BYD) by 23.1% in the second quarter, Holdings Channel reports. The institutional investor owned 6,957 shares of the company’s stock after selling 2,091 shares during the period. Harvest Portfolios Group Inc.’s holdings in Boyd Gaming were worth $544,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in Boyd Gaming by 13.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company’s stock valued at $69,036,000 after acquiring an additional 122,822 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Boyd Gaming by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 983,823 shares of the company’s stock worth $64,765,000 after purchasing an additional 8,850 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Boyd Gaming by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 692,496 shares of the company’s stock worth $45,587,000 after purchasing an additional 7,400 shares in the last quarter. Northern Trust Corp raised its stake in shares of Boyd Gaming by 14.2% in the first quarter. Northern Trust Corp now owns 682,518 shares of the company’s stock worth $44,930,000 after purchasing an additional 85,087 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in shares of Boyd Gaming by 7.5% in the first quarter. Raymond James Financial Inc. now owns 641,104 shares of the company’s stock valued at $42,204,000 after purchasing an additional 44,558 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BYD shares. Barclays upped their price target on Boyd Gaming from $73.00 to $87.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. Raymond James Financial restated an “outperform” rating on shares of Boyd Gaming in a research note on Monday, September 8th. Mizuho upped their target price on shares of Boyd Gaming from $89.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Boyd Gaming in a report on Wednesday, October 8th. Finally, Susquehanna lowered shares of Boyd Gaming from a “positive” rating to a “neutral” rating and raised their price target for the company from $76.00 to $86.00 in a research report on Friday, July 11th. Seven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $90.08.

Boyd Gaming Stock Up 1.5%

BYD stock opened at $81.26 on Friday. The stock has a market cap of $6.35 billion, a P/E ratio of 3.55, a P/E/G ratio of 2.02 and a beta of 1.31. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53. The stock’s fifty day simple moving average is $83.30 and its two-hundred day simple moving average is $79.97. Boyd Gaming Corporation has a 1-year low of $58.94 and a 1-year high of $88.49.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share (EPS) for the quarter. The firm had revenue of $707.32 million during the quarter. Boyd Gaming had a return on equity of 41.97% and a net margin of 46.02%. Analysts expect that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 15th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, September 15th. Boyd Gaming’s dividend payout ratio (DPR) is 3.15%.

Insider Activity at Boyd Gaming

In related news, Director William R. Boyd sold 9,774 shares of Boyd Gaming stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $81.61, for a total value of $797,656.14. Following the sale, the director owned 15,188 shares of the company’s stock, valued at approximately $1,239,492.68. The trade was a 39.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Josh Hirsberg sold 40,035 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $85.41, for a total value of $3,419,389.35. Following the transaction, the chief financial officer directly owned 420,185 shares of the company’s stock, valued at approximately $35,888,000.85. This trade represents a 8.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 353,035 shares of company stock worth $29,941,690. Insiders own 27.94% of the company’s stock.

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.