Cerity Partners LLC Sells 386 Shares of Boyd Gaming Co. (NYSE:BYD)

Cerity Partners LLC decreased its holdings in shares of Boyd Gaming Co. (NYSE:BYD) by 5.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,597 shares of the company’s stock after selling 386 shares during the period. Cerity Partners LLC’s holdings in Boyd Gaming were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of BYD. HighTower Advisors LLC increased its position in Boyd Gaming by 9.3% in the first quarter. HighTower Advisors LLC now owns 8,539 shares of the company’s stock worth $560,000 after buying an additional 725 shares in the last quarter. Citigroup Inc. lifted its holdings in Boyd Gaming by 1.4% during the first quarter. Citigroup Inc. now owns 42,226 shares of the company’s stock valued at $2,778,000 after purchasing an additional 567 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Boyd Gaming by 24.3% in the first quarter. Bank of Montreal Can now owns 10,255 shares of the company’s stock worth $689,000 after purchasing an additional 2,002 shares during the period. MetLife Investment Management LLC increased its stake in shares of Boyd Gaming by 35.4% in the first quarter. MetLife Investment Management LLC now owns 53,822 shares of the company’s stock worth $3,540,000 after purchasing an additional 14,078 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Boyd Gaming by 2.3% during the 1st quarter. Rhumbline Advisers now owns 221,735 shares of the company’s stock valued at $14,586,000 after purchasing an additional 4,888 shares during the period. 67.98% of the stock is currently owned by hedge funds and other institutional investors.

Boyd Gaming Trading Down 0.9 %

BYD stock opened at $65.24 on Thursday. The firm has a fifty day moving average price of $68.17 and a 200 day moving average price of $66.50. Boyd Gaming Co. has a fifty-two week low of $46.10 and a fifty-two week high of $73.00. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.80 and a current ratio of 0.84. The firm has a market cap of $6.52 billion, a PE ratio of 9.46, a price-to-earnings-growth ratio of 1.52 and a beta of 1.76.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, July 27th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.02. Boyd Gaming had a net margin of 19.61% and a return on equity of 41.56%. The firm had revenue of $916.95 million during the quarter, compared to analyst estimates of $910.59 million. During the same period last year, the firm posted $1.48 earnings per share. Boyd Gaming’s revenue for the quarter was up 2.5% compared to the same quarter last year. Sell-side analysts anticipate that Boyd Gaming Co. will post 6.32 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Friday, September 15th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, September 14th. Boyd Gaming’s dividend payout ratio (DPR) is presently 9.26%.

Analyst Upgrades and Downgrades

BYD has been the topic of several research analyst reports. Wells Fargo & Company boosted their price objective on Boyd Gaming from $82.00 to $83.00 in a research report on Thursday, July 13th. StockNews.com started coverage on Boyd Gaming in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Argus lifted their price objective on shares of Boyd Gaming from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Finally, Morgan Stanley upgraded shares of Boyd Gaming from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $69.00 to $75.00 in a research report on Thursday, July 13th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Boyd Gaming currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, EVP Stephen S. Thompson sold 16,825 shares of Boyd Gaming stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $68.15, for a total transaction of $1,146,623.75. Following the completion of the transaction, the executive vice president now directly owns 22,113 shares of the company’s stock, valued at $1,507,000.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Boyd Gaming news, EVP Stephen S. Thompson sold 16,825 shares of Boyd Gaming stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $68.15, for a total transaction of $1,146,623.75. Following the completion of the transaction, the executive vice president now directly owns 22,113 shares of the company’s stock, valued at $1,507,000.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William S. Boyd sold 100,000 shares of Boyd Gaming stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $67.42, for a total transaction of $6,742,000.00. Following the transaction, the insider now directly owns 9,866,224 shares of the company’s stock, valued at $665,180,822.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 169,681 shares of company stock valued at $11,379,921. 29.21% of the stock is owned by corporate insiders.

Boyd Gaming 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. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South.