Boyd Gaming Co. (NYSE:BYD) Shares Sold by Bayesian Capital Management LP

Bayesian Capital Management LP lessened its stake in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 48.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,600 shares of the company's stock after selling 5,300 shares during the quarter. Bayesian Capital Management LP's holdings in Boyd Gaming were worth $406,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Cohen & Steers Inc. boosted its stake in shares of Boyd Gaming by 0.4% during the fourth quarter. Cohen & Steers Inc. now owns 5,265,454 shares of the company's stock valued at $381,929,000 after acquiring an additional 21,616 shares during the last quarter. Boston Partners lifted its holdings in Boyd Gaming by 36.9% in the 4th quarter. Boston Partners now owns 3,955,544 shares of the company's stock valued at $287,185,000 after purchasing an additional 1,065,887 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Boyd Gaming by 51.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company's stock worth $94,074,000 after purchasing an additional 441,963 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Boyd Gaming by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 974,973 shares of the company's stock worth $70,725,000 after buying an additional 3,052 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Boyd Gaming by 37.2% in the fourth quarter. Franklin Resources Inc. now owns 964,051 shares of the company's stock valued at $69,932,000 after buying an additional 261,443 shares during the last quarter. Hedge funds and other institutional investors own 76.81% of the company's stock.

Analyst Ratings Changes

BYD has been the subject of several recent analyst reports. StockNews.com cut shares of Boyd Gaming from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 27th. JMP Securities reaffirmed a "market perform" rating on shares of Boyd Gaming in a research report on Friday, February 7th. Mizuho dropped their target price on Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. raised their price target on Boyd Gaming from $74.00 to $80.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Finally, Morgan Stanley dropped their price objective on shares of Boyd Gaming from $75.00 to $72.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $95.07.

Boyd Gaming Stock Performance

Shares of NYSE:BYD opened at $70.94 on Thursday. The company has a market cap of $5.85 billion, a P/E ratio of 11.41, a PEG ratio of 4.46 and a beta of 1.32. Boyd Gaming Co. has a one year low of $49.34 and a one year high of $80.50. The business's 50-day simple moving average is $67.23 and its 200 day simple moving average is $71.40. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.52 by $0.10. The business had revenue of $991.57 million for the quarter, compared to analysts' expectations of $976.38 million. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. The business's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.51 earnings per share. On average, sell-side analysts forecast that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Boyd Gaming's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.01%. Boyd Gaming's dividend payout ratio (DPR) is currently 11.75%.

Insider Transactions at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 50,000 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total value of $3,884,000.00. Following the sale, the chairman now directly owns 1,346,628 shares of the company's stock, valued at $104,606,063.04. This represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William R. Boyd sold 15,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the transaction, the director now directly owns 1,472,970 shares of the company's stock, valued at approximately $116,835,980.40. This represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,125 shares of company stock valued at $5,158,490. 21.97% of the stock is currently owned by insiders.

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.

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