Boyd Gaming Corporation $BYD Position Lessened by Channing Capital Management LLC

Channing Capital Management LLC lowered its position in Boyd Gaming Corporation (NYSE:BYD) by 1.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 901,394 shares of the company’s stock after selling 16,938 shares during the quarter. Boyd Gaming makes up approximately 2.1% of Channing Capital Management LLC’s holdings, making the stock its 18th biggest position. Channing Capital Management LLC owned about 1.15% of Boyd Gaming worth $77,926,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of BYD. Citigroup Inc. lifted its holdings in shares of Boyd Gaming by 94.8% during the 3rd quarter. Citigroup Inc. now owns 229,823 shares of the company’s stock valued at $19,868,000 after buying an additional 111,815 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Boyd Gaming during the third quarter valued at approximately $252,000. Syon Capital LLC lifted its stake in Boyd Gaming by 72.2% in the third quarter. Syon Capital LLC now owns 10,129 shares of the company’s stock valued at $876,000 after acquiring an additional 4,248 shares during the last quarter. denkapparat Operations GmbH grew its position in Boyd Gaming by 17.1% in the third quarter. denkapparat Operations GmbH now owns 13,026 shares of the company’s stock worth $1,126,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Balboa Wealth Partners acquired a new position in shares of Boyd Gaming during the 3rd quarter worth $351,000. 76.81% of the stock is owned by institutional investors and hedge funds.

Boyd Gaming Trading Up 1.4%

Boyd Gaming stock opened at $86.25 on Friday. Boyd Gaming Corporation has a 52 week low of $58.94 and a 52 week high of $89.96. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.49 and a current ratio of 0.51. The firm has a market capitalization of $6.74 billion, a PE ratio of 3.79, a PEG ratio of 1.82 and a beta of 1.24. The business’s 50-day simple moving average is $85.36 and its 200-day simple moving average is $83.79.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, February 5th. The company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.33. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Boyd Gaming had a return on equity of 33.49% and a net margin of 45.05%.The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.96 EPS. Equities research analysts forecast that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 16th. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. Boyd Gaming’s dividend payout ratio is 3.16%.

Insider Transactions at Boyd Gaming

In related news, Director William R. Boyd sold 30,000 shares of the company’s stock in a transaction on 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 transaction, the director directly owned 1,930,447 shares in the company, valued at $163,779,123.48. This represents a 1.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 27.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BYD. Morgan Stanley set a $86.00 price objective on shares of Boyd Gaming in a research note on Wednesday, February 11th. Susquehanna cut their target price on Boyd Gaming from $90.00 to $89.00 and set a “neutral” rating on the stock in a report on Wednesday, February 11th. UBS Group set a $110.00 price target on Boyd Gaming in a research note on Wednesday, December 24th. Citigroup assumed coverage on Boyd Gaming in a report on Thursday, November 20th. They set a “neutral” rating and a $86.00 price objective on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Boyd Gaming in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $92.58.

Boyd Gaming 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.