Burney Co. Sells 6,139 Shares of Boyd Gaming Corporation $BYD

Burney Co. lowered its position in shares of Boyd Gaming Corporation (NYSE:BYD) by 28.9% in the first quarter, Holdings Channel reports. The firm owned 15,137 shares of the company’s stock after selling 6,139 shares during the period. Burney Co.’s holdings in Boyd Gaming were worth $1,244,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its holdings in Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after acquiring an additional 196 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Boyd Gaming by 13.9% during the 1st quarter. AQR Capital Management LLC now owns 9,623 shares of the company’s stock valued at $628,000 after purchasing an additional 1,172 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Boyd Gaming in the 1st quarter valued at approximately $207,000. M&T Bank Corp acquired a new position in shares of Boyd Gaming in the 2nd quarter valued at approximately $229,000. Finally, Amundi increased its stake in Boyd Gaming by 14,719.0% during the 2nd quarter. Amundi now owns 3,112 shares of the company’s stock worth $253,000 after purchasing an additional 3,091 shares in the last quarter. Institutional investors own 76.81% of the company’s stock.

Analyst Upgrades and Downgrades

BYD has been the topic of several research analyst reports. Weiss Ratings upgraded shares of Boyd Gaming from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 4th. Benchmark started coverage on shares of Boyd Gaming in a research report on Monday, June 22nd. They set a “buy” rating and a $100.00 price objective for the company. Texas Capital upgraded shares of Boyd Gaming to a “strong-buy” rating in a report on Wednesday, June 3rd. Mizuho cut their price objective on shares of Boyd Gaming from $99.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday, April 24th. Finally, Barclays cut their price objective on shares of Boyd Gaming from $87.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $93.15.

Insider Transactions at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 62,914 shares of Boyd Gaming stock in a transaction dated 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 sale, the chairman owned 1,609,808 shares of the company’s stock, valued at approximately $135,272,166.24. The trade was 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 Boyd Gaming stock in a transaction dated 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 in the company, valued at approximately $85,640,667.90. This represents a 9.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 200,000 shares of company stock valued at $17,038,987. Company insiders own 22.82% of the company’s stock.

Boyd Gaming Stock Down 1.8%

Shares of Boyd Gaming stock opened at $87.05 on Thursday. The firm has a market cap of $6.47 billion, a PE ratio of 3.82, a P/E/G ratio of 2.07 and a beta of 1.07. The business’s 50 day simple moving average is $84.98 and its 200 day simple moving average is $84.74. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.60. Boyd Gaming Corporation has a 52-week low of $76.33 and a 52-week high of $91.00.

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

Boyd Gaming Announces Dividend

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

Boyd Gaming declared that its board has authorized a stock buyback program on Thursday, April 23rd that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 7.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Boyd Gaming 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.