Nitorum Capital L.P. Has $35.72 Million Position in Boyd Gaming Co. (NYSE:BYD)

Nitorum Capital L.P. cut its holdings in Boyd Gaming Co. (NYSE:BYD - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 492,448 shares of the company's stock after selling 44,284 shares during the quarter. Boyd Gaming accounts for 4.1% of Nitorum Capital L.P.'s portfolio, making the stock its 7th biggest holding. Nitorum Capital L.P. owned 0.56% of Boyd Gaming worth $35,722,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BYD. Boston Partners increased its stake in Boyd Gaming by 36.9% in the fourth 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 during the last quarter. Norges Bank acquired a new position in Boyd Gaming in the fourth quarter valued at $55,553,000. Raymond James Financial Inc. acquired a new position in Boyd Gaming in the fourth quarter valued at $43,273,000. Arrowstreet Capital Limited Partnership increased its stake in Boyd Gaming by 51.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company's stock valued at $94,074,000 after purchasing an additional 441,963 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in 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 purchasing an additional 261,443 shares during the last quarter. 76.81% of the stock is owned by institutional investors and hedge funds.

Boyd Gaming Stock Performance

Boyd Gaming stock traded up $0.68 during mid-day trading on Thursday, reaching $69.82. The company's stock had a trading volume of 219,087 shares, compared to its average volume of 1,005,356. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 4.46 and a beta of 1.31. The business has a 50 day moving average price of $67.82 and a 200-day moving average price of $71.22. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $80.50.

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

Boyd Gaming Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were issued a dividend of $0.18 per share. This is an increase from Boyd Gaming's previous quarterly dividend of $0.17. The ex-dividend date was Monday, March 17th. This represents a $0.72 annualized dividend and a dividend yield of 1.03%. Boyd Gaming's payout ratio is 11.75%.

Insider Activity

In related news, Chairman Marianne Boyd Johnson sold 50,000 shares of the company's stock in a transaction dated 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 completion of the sale, the chairman now 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 document filed with the SEC, which is available through the SEC website. Also, Director Christine J. Spadafor sold 1,125 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $75.28, for a total transaction of $84,690.00. Following the completion of the sale, the director now directly owns 4,852 shares of the company's stock, valued at $365,258.56. The trade was a 18.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,125 shares of company stock valued at $5,158,490. 27.94% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on BYD. Macquarie reiterated a "neutral" rating and issued a $74.00 target price on shares of Boyd Gaming in a research note on Friday, April 25th. Morgan Stanley dropped their price objective on shares of Boyd Gaming from $75.00 to $72.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. lifted their price objective on shares of Boyd Gaming from $74.00 to $80.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Barclays dropped their price objective on shares of Boyd Gaming from $78.00 to $73.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Mizuho dropped their price objective on shares of Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $95.07.

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.