Gamco Investors INC. ET AL Decreases Stock Holdings in Boyd Gaming Corporation $BYD

Gamco Investors INC. ET AL lowered its stake in Boyd Gaming Corporation (NYSE:BYD) by 32.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 299,337 shares of the company’s stock after selling 144,213 shares during the quarter. Gamco Investors INC. ET AL owned 0.38% of Boyd Gaming worth $25,878,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Alps Advisors Inc. increased its stake in Boyd Gaming by 2.7% in the third quarter. Alps Advisors Inc. now owns 5,384 shares of the company’s stock valued at $465,000 after purchasing an additional 141 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Boyd Gaming by 4.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,434 shares of the company’s stock worth $371,000 after buying an additional 170 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after buying an additional 196 shares in the last quarter. Blue Trust Inc. grew its position in shares of Boyd Gaming by 61.0% in the 3rd quarter. Blue Trust Inc. now owns 657 shares of the company’s stock valued at $57,000 after buying an additional 249 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Boyd Gaming by 219.8% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock valued at $29,000 after buying an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Josh Hirsberg sold 23,924 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $85.86, for a total value of $2,054,114.64. Following the completion of the sale, the chief financial officer owned 435,746 shares in the company, valued at approximately $37,413,151.56. This trade represents a 5.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William R. Boyd sold 30,000 shares of Boyd Gaming stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $84.84, for a total transaction of $2,545,200.00. Following the completion of the sale, the director directly owned 1,930,447 shares in the company, valued at approximately $163,779,123.48. The trade was a 1.53% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 73,454 shares of company stock worth $6,231,827. 27.94% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BYD has been the subject of a number of research reports. Morgan Stanley set a $86.00 price target on shares of Boyd Gaming in a research report on Wednesday, February 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Boyd Gaming in a report on Monday, December 29th. Wells Fargo & Company cut their target price on Boyd Gaming from $85.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Monday, February 9th. Citigroup began coverage on Boyd Gaming in a report on Thursday, November 20th. They issued a “neutral” rating and a $86.00 target price for the company. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Boyd Gaming in a research report on Wednesday, December 24th. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Boyd Gaming presently has an average rating of “Hold” and a consensus price target of $92.58.

Boyd Gaming Trading Down 2.3%

Shares of BYD stock opened at $80.16 on Friday. The company has a market capitalization of $6.05 billion, a P/E ratio of 3.52, a price-to-earnings-growth ratio of 1.73 and a beta of 1.20. The company has a current ratio of 0.54, a quick ratio of 0.52 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average is $84.89 and its two-hundred day moving average is $83.81. Boyd Gaming Corporation has a twelve month low of $58.94 and a twelve month high of $89.96.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, February 5th. The company reported $2.21 EPS for the quarter, topping the consensus estimate of $1.88 by $0.33. Boyd Gaming had a return on equity of 30.14% and a net margin of 45.05%.The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the business earned $1.96 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities analysts forecast that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, March 16th. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.18. Boyd Gaming’s payout ratio is currently 3.16%.

Boyd Gaming Company 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.