DekaBank Deutsche Girozentrale Sells 1,219 Shares of Boyd Gaming Co. (NYSE:BYD)

DekaBank Deutsche Girozentrale lowered its position in shares of Boyd Gaming Co. (NYSE:BYD) by 2.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 47,070 shares of the company’s stock after selling 1,219 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Boyd Gaming were worth $2,964,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BYD. Parkside Financial Bank & Trust increased its position in shares of Boyd Gaming by 105.5% during the third quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock valued at $25,000 after acquiring an additional 211 shares in the last quarter. Belpointe Asset Management LLC grew its position in Boyd Gaming by 237.6% in the 1st quarter. Belpointe Asset Management LLC now owns 655 shares of the company’s stock worth $42,000 after purchasing an additional 461 shares during the period. Quarry LP grew its position in Boyd Gaming by 130.3% in the 1st quarter. Quarry LP now owns 822 shares of the company’s stock worth $53,000 after purchasing an additional 465 shares during the period. Allworth Financial LP grew its position in Boyd Gaming by 3,333.3% in the 4th quarter. Allworth Financial LP now owns 1,030 shares of the company’s stock worth $64,000 after purchasing an additional 1,000 shares during the period. Finally, Sunbelt Securities Inc. bought a new stake in Boyd Gaming in the 1st quarter worth approximately $86,000. Institutional investors own 76.81% of the company’s stock.

Insiders Place Their Bets

In other Boyd Gaming news, Director A. Randall Thoman sold 2,500 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total value of $159,375.00. Following the sale, the director now owns 4,017 shares in the company, valued at approximately $256,083.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Boyd Gaming news, Director A. Randall Thoman sold 2,500 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total value of $159,375.00. Following the sale, the director now owns 4,017 shares in the company, valued at approximately $256,083.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder William S. Boyd sold 63,464 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the completion of the sale, the insider now owns 8,795,449 shares in the company, valued at $555,168,740.88. The disclosure for this sale can be found here. Insiders have sold a total of 582,910 shares of company stock worth $37,299,461 in the last 90 days. 27.94% of the stock is currently owned by corporate insiders.

Boyd Gaming Stock Down 1.6 %

BYD opened at $64.38 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 0.89. Boyd Gaming Co. has a fifty-two week low of $52.42 and a fifty-two week high of $73.00. The firm’s fifty day moving average is $64.44 and its 200 day moving average is $61.82. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 3.05 and a beta of 1.60.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. The company had revenue of $954.41 million for the quarter, compared to analysts’ expectations of $928.04 million. During the same quarter in the previous year, the company earned $1.72 EPS. Boyd Gaming’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, sell-side analysts forecast that Boyd Gaming Co. will post 6.18 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be paid a $0.17 dividend. The ex-dividend date is Thursday, March 14th. This represents a $0.68 annualized dividend and a yield of 1.06%. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.16. Boyd Gaming’s payout ratio is presently 11.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Susquehanna reaffirmed a “neutral” rating and issued a $75.00 target price (down previously from $84.00) on shares of Boyd Gaming in a research report on Monday, February 12th. Morgan Stanley boosted their price objective on shares of Boyd Gaming from $71.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Boyd Gaming from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Mizuho started coverage on shares of Boyd Gaming in a research report on Tuesday, March 26th. They set a “buy” rating and a $80.00 price objective for the company. Finally, Stifel Nicolaus reissued a “hold” rating and set a $69.00 price objective on shares of Boyd Gaming in a research report on Friday, January 5th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Boyd Gaming currently has a consensus rating of “Moderate Buy” and an average target price of $76.30.

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. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.