Harvest Portfolios Group Inc. Sells 2,091 Shares of Boyd Gaming Corporation $BYD

Harvest Portfolios Group Inc. decreased its holdings in Boyd Gaming Corporation (NYSE:BYD) by 23.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,957 shares of the company’s stock after selling 2,091 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Boyd Gaming were worth $544,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ruffer LLP bought a new stake in shares of Boyd Gaming in the 2nd quarter valued at about $6,471,000. Counterpoint Mutual Funds LLC bought a new position in shares of Boyd Gaming during the second quarter worth about $402,000. EP Wealth Advisors LLC acquired a new position in shares of Boyd Gaming in the first quarter worth approximately $206,000. Strs Ohio acquired a new position in shares of Boyd Gaming in the first quarter worth approximately $1,939,000. Finally, Redwood Investment Management LLC boosted its holdings in Boyd Gaming by 7.0% in the first quarter. Redwood Investment Management LLC now owns 75,792 shares of the company’s stock valued at $4,989,000 after acquiring an additional 4,977 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, CEO Keith Smith sold 25,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $85.21, for a total value of $2,130,250.00. Following the transaction, the chief executive officer owned 1,046,689 shares in the company, valued at approximately $89,188,369.69. This represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Josh Hirsberg sold 40,035 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $85.41, for a total value of $3,419,389.35. Following the completion of the sale, the chief financial officer directly owned 420,185 shares of the company’s stock, valued at $35,888,000.85. This trade represents a 8.70% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 353,035 shares of company stock valued at $29,941,690. 27.94% of the stock is currently owned by corporate insiders.

Boyd Gaming Stock Performance

Shares of BYD stock opened at $81.26 on Friday. The firm has a 50 day moving average of $83.30 and a 200-day moving average of $79.97. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 3.55, a price-to-earnings-growth ratio of 2.02 and a beta of 1.31. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.53. Boyd Gaming Corporation has a 52 week low of $58.94 and a 52 week high of $88.49.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share (EPS) for the quarter. The business had revenue of $707.32 million for the quarter. Boyd Gaming had a net margin of 46.02% and a return on equity of 41.97%. On average, equities analysts forecast that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, September 15th. Boyd Gaming’s dividend payout ratio is 3.15%.

Analyst Ratings Changes

BYD has been the subject of several analyst reports. Susquehanna lowered shares of Boyd Gaming from a “positive” rating to a “neutral” rating and raised their price target for the stock from $76.00 to $86.00 in a report on Friday, July 11th. Zacks Research cut shares of Boyd Gaming from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Truist Financial lifted their target price on shares of Boyd Gaming from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. boosted their target price on shares of Boyd Gaming from $87.00 to $89.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Boyd Gaming in a research report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Boyd Gaming currently has an average rating of “Hold” and a consensus price target of $90.08.

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.