Janney Montgomery Scott LLC Sells 2,635 Shares of Boyd Gaming Co. (NYSE:BYD)

Janney Montgomery Scott LLC lowered its position in Boyd Gaming Co. (NYSE:BYD) by 32.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,601 shares of the company’s stock after selling 2,635 shares during the period. Janney Montgomery Scott LLC’s holdings in Boyd Gaming were worth $389,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BYD. Belpointe Asset Management LLC increased its position in Boyd Gaming by 237.6% during the 1st quarter. Belpointe Asset Management LLC now owns 655 shares of the company’s stock valued at $42,000 after buying an additional 461 shares in the last quarter. Quarry LP boosted its stake in Boyd Gaming by 130.3% during the 1st quarter. Quarry LP now owns 822 shares of the company’s stock valued at $53,000 after purchasing an additional 465 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in Boyd Gaming during the 1st quarter valued at $86,000. Harvest Fund Management Co. Ltd boosted its stake in Boyd Gaming by 460.8% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 1,744 shares of the company’s stock valued at $112,000 after purchasing an additional 1,433 shares during the last quarter. Finally, James Investment Research Inc. purchased a new stake in Boyd Gaming during the 1st quarter valued at $141,000. Institutional investors own 67.98% of the company’s stock.

Boyd Gaming Price Performance

NYSE:BYD opened at $55.28 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.84 and a debt-to-equity ratio of 1.66. The business’s 50-day simple moving average is $61.66 and its two-hundred day simple moving average is $65.81. The stock has a market cap of $5.53 billion, a PE ratio of 8.14, a P/E/G ratio of 2.23 and a beta of 1.76. Boyd Gaming Co. has a 52 week low of $52.42 and a 52 week high of $73.00.

Boyd Gaming Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, October 15th. Shareholders of record on Friday, September 15th were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.64 dividend on an annualized basis and a yield of 1.16%. Boyd Gaming’s dividend payout ratio is presently 9.43%.

Insider Buying and Selling at Boyd Gaming

In other news, insider William S. Boyd sold 1,914 shares of Boyd Gaming stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $67.00, for a total value of $128,238.00. Following the sale, the insider now directly owns 9,764,310 shares of the company’s stock, valued at $654,208,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Boyd Gaming news, VP William R. Boyd sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $67.83, for a total transaction of $678,300.00. Following the sale, the vice president now directly owns 1,684,610 shares of the company’s stock, valued at $114,267,096.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William S. Boyd sold 1,914 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $67.00, for a total value of $128,238.00. Following the sale, the insider now directly owns 9,764,310 shares in the company, valued at $654,208,770. The disclosure for this sale can be found here. Insiders have sold a total of 152,121 shares of company stock valued at $10,183,303 over the last ninety days. 29.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on BYD. Barclays cut their target price on Boyd Gaming from $77.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. Wells Fargo & Company raised their price target on Boyd Gaming from $82.00 to $83.00 in a research note on Thursday, July 13th. Morgan Stanley dropped their price target on Boyd Gaming from $72.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 25th. Argus raised their price target on Boyd Gaming from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, JPMorgan Chase & Co. dropped their price target on Boyd Gaming from $79.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $76.82.

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.