SG Americas Securities LLC Decreases Stock Position in Boyd Gaming Co. (NYSE:BYD)

SG Americas Securities LLC reduced its position in Boyd Gaming Co. (NYSE:BYD) by 48.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,011 shares of the company’s stock after selling 1,885 shares during the period. SG Americas Securities LLC’s holdings in Boyd Gaming were worth $126,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its stake in Boyd Gaming by 9.3% during the 1st quarter. HighTower Advisors LLC now owns 8,539 shares of the company’s stock valued at $560,000 after buying an additional 725 shares during the last quarter. Citigroup Inc. lifted its holdings in Boyd Gaming by 1.4% in the first quarter. Citigroup Inc. now owns 42,226 shares of the company’s stock valued at $2,778,000 after acquiring an additional 567 shares during the period. Bank of Montreal Can boosted its position in 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 last quarter. MetLife Investment Management LLC grew its stake in shares of Boyd Gaming by 35.4% during the 1st quarter. MetLife Investment Management LLC now owns 53,822 shares of the company’s stock valued at $3,540,000 after purchasing an additional 14,078 shares during the period. Finally, Rhumbline Advisers increased 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 last quarter. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Boyd Gaming Stock Down 1.5 %

Shares of BYD stock opened at $63.68 on Thursday. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 3.03 and a beta of 1.60. Boyd Gaming Co. has a one year low of $52.42 and a one year high of $73.00. The company’s fifty day moving average price is $64.47 and its 200-day moving average price is $61.91. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.89 and a quick ratio of 0.85.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, February 8th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.43 by $0.23. The firm had revenue of $954.41 million for the quarter, compared to the consensus estimate of $928.04 million. Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $1.72 EPS. Sell-side analysts expect that Boyd Gaming Co. will post 6.18 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.07%. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, March 14th. Boyd Gaming’s dividend payout ratio (DPR) is presently 11.15%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Barclays raised their price objective on shares of Boyd Gaming from $66.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Truist Financial boosted their price objective on shares of Boyd Gaming from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Morgan Stanley raised their target price on Boyd Gaming from $71.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Wells Fargo & Company boosted their price target on Boyd Gaming from $81.00 to $82.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. raised their price objective on Boyd Gaming from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $76.30.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Director A. Randall Thoman sold 2,500 shares of Boyd Gaming 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 directly owns 4,017 shares in the company, valued at approximately $256,083.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Boyd Gaming news, Director A. Randall Thoman sold 2,500 shares of Boyd Gaming 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 directly owns 4,017 shares in the company, valued at approximately $256,083.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder William S. Boyd sold 63,464 shares of Boyd Gaming stock in a transaction on Wednesday, March 13th. The shares were 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. In the last ninety days, insiders have sold 582,910 shares of company stock worth $37,299,461. Insiders own 28.40% of the company’s stock.

Boyd Gaming Company 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.