American Century Companies Inc. Trims Stake in Boyd Gaming Corporation $BYD

American Century Companies Inc. cut its position in shares of Boyd Gaming Corporation (NYSE:BYD) by 18.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 993,203 shares of the company’s stock after selling 219,821 shares during the period. American Century Companies Inc. owned about 1.27% of Boyd Gaming worth $85,862,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Choreo LLC grew its position in shares of Boyd Gaming by 7.0% during the 3rd quarter. Choreo LLC now owns 36,467 shares of the company’s stock worth $3,159,000 after buying an additional 2,388 shares in the last quarter. Interchange Capital Partners LLC purchased a new stake in Boyd Gaming in the third quarter worth about $238,000. US Bancorp DE grew its holdings in Boyd Gaming by 22.8% during the 3rd quarter. US Bancorp DE now owns 4,104 shares of the company’s stock worth $355,000 after acquiring an additional 762 shares in the last quarter. Citigroup Inc. grew its holdings in Boyd Gaming by 94.8% during the 3rd quarter. Citigroup Inc. now owns 229,823 shares of the company’s stock worth $19,868,000 after acquiring an additional 111,815 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Boyd Gaming during the 3rd quarter valued at about $252,000. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Boyd Gaming Stock Performance

Shares of BYD opened at $81.29 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.52 and a debt-to-equity ratio of 0.78. The firm has a market cap of $6.14 billion, a PE ratio of 3.57, a P/E/G ratio of 1.74 and a beta of 1.20. Boyd Gaming Corporation has a 12 month low of $58.94 and a 12 month high of $89.96. The stock has a fifty day moving average price of $85.15 and a 200-day moving average price of $83.85.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, February 5th. The company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.33. Boyd Gaming had a return on equity of 30.14% and a net margin of 45.05%.The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the business earned $1.96 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts predict that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal 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 issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, March 16th. Boyd Gaming’s dividend payout ratio is currently 3.16%.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, insider Stephen S. Thompson sold 19,530 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $83.59, for a total transaction of $1,632,512.70. Following the transaction, the insider owned 22,009 shares in the company, valued at approximately $1,839,732.31. This represents a 47.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Josh Hirsberg sold 23,924 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $85.86, for a total transaction of $2,054,114.64. Following the completion of the transaction, the chief financial officer directly owned 435,746 shares of the company’s stock, valued at approximately $37,413,151.56. This represents a 5.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 73,454 shares of company stock valued at $6,231,827 in the last three months. 21.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Boyd Gaming from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, February 6th. Weiss Ratings restated a “buy (b)” rating on shares of Boyd Gaming in a report on Monday, December 29th. Jefferies Financial Group reiterated a “buy” rating on shares of Boyd Gaming in a report on Wednesday, December 24th. Citigroup assumed coverage on Boyd Gaming in a research report on Thursday, November 20th. They issued a “neutral” rating and a $86.00 price target for the company. Finally, Truist Financial set a $110.00 price objective on Boyd Gaming in a research note on Tuesday, January 13th. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $92.58.

Boyd Gaming Company 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.