Pier Capital LLC trimmed its position in Boyd Gaming Co. (NYSE:BYD) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,504 shares of the company’s stock after selling 10,967 shares during the period. Pier Capital LLC’s holdings in Boyd Gaming were worth $5,696,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in BYD. Strs Ohio lifted its holdings in Boyd Gaming by 177.8% in the 4th quarter. Strs Ohio now owns 5,000 shares of the company’s stock valued at $175,000 after purchasing an additional 3,200 shares in the last quarter. Advisory Services Network LLC purchased a new position in Boyd Gaming in the 4th quarter valued at about $183,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Boyd Gaming by 33.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,559 shares of the company’s stock valued at $195,000 after purchasing an additional 1,392 shares in the last quarter. Creative Planning purchased a new position in Boyd Gaming in the 4th quarter valued at about $206,000. Finally, Miles Capital Inc. purchased a new position in Boyd Gaming in the 4th quarter valued at about $213,000. Institutional investors own 74.77% of the company’s stock.
BYD has been the topic of a number of recent research reports. SunTrust Banks reduced their target price on shares of Boyd Gaming to $38.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Stifel Nicolaus reaffirmed a “hold” rating and set a $40.00 price objective (up previously from $35.00) on shares of Boyd Gaming in a research note on Wednesday, February 21st. Zacks Investment Research raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Wednesday, January 3rd. Barclays reaffirmed an “equal weight” rating and set a $33.00 price objective (down previously from $35.00) on shares of Boyd Gaming in a research note on Wednesday, February 21st. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $39.00 price objective (down previously from $43.00) on shares of Boyd Gaming in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $35.81.
In related news, EVP Marianne Boyd Johnson sold 89,783 shares of the stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $33.87, for a total transaction of $3,040,950.21. Following the completion of the sale, the executive vice president now owns 252,930 shares of the company’s stock, valued at approximately $8,566,739.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen S. Thompson sold 24,906 shares of the stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $33.55, for a total transaction of $835,596.30. Following the sale, the insider now directly owns 53,354 shares of the company’s stock, valued at approximately $1,790,026.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 328,294 shares of company stock valued at $11,448,808. Corporate insiders own 28.88% of the company’s stock.
Shares of Boyd Gaming Co. (NYSE:BYD) opened at $33.60 on Tuesday. The stock has a market cap of $3,735.26, a P/E ratio of 20.49 and a beta of 1.92. Boyd Gaming Co. has a 1 year low of $19.66 and a 1 year high of $40.44. The company has a current ratio of 0.87, a quick ratio of 0.82 and a debt-to-equity ratio of 2.77.
Boyd Gaming (NYSE:BYD) last posted its earnings results on Tuesday, February 20th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.04). The business had revenue of $590.83 million for the quarter, compared to analyst estimates of $595.28 million. Boyd Gaming had a return on equity of 11.47% and a net margin of 7.94%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $0.38 EPS. analysts expect that Boyd Gaming Co. will post 1.23 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Friday, March 16th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date is Thursday, March 15th. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.05. Boyd Gaming’s dividend payout ratio is 12.20%.
About Boyd Gaming
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
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