Boyd Gaming Corporation $BYD Shares Sold by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC has reduced its stake in Boyd Gaming Corporation by 11.0%, holding 30,362 shares valued at approximately $2.375 million after selling 3,756 shares in the second quarter.
• Boyd Gaming shares have seen varied analyst ratings, with a consensus average rating of "Hold" and a price target of $89.67, influenced by recent reports from JPMorgan, Mizuho, and others.
• The company's stock price experienced a decline of 7.1%, currently trading at $78.92, amid increasing insider activity, including significant sales by the Chairman and CFO.

Mutual of America Capital Management LLC reduced its stake in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) by 11.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,362 shares of the company's stock after selling 3,756 shares during the quarter. Mutual of America Capital Management LLC's holdings in Boyd Gaming were worth $2,375,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Koshinski Asset Management Inc. acquired a new stake in Boyd Gaming during the 2nd quarter worth $277,000. Foster & Motley Inc. raised its stake in Boyd Gaming by 132.4% during the 2nd quarter. Foster & Motley Inc. now owns 57,919 shares of the company's stock worth $4,531,000 after acquiring an additional 32,993 shares in the last quarter. Allianz Asset Management GmbH grew its position in Boyd Gaming by 870.3% during the 2nd quarter. Allianz Asset Management GmbH now owns 99,940 shares of the company's stock worth $7,818,000 after purchasing an additional 89,640 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Boyd Gaming by 2.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 77,037 shares of the company's stock worth $6,027,000 after purchasing an additional 2,025 shares during the last quarter. Finally, MGO One Seven LLC purchased a new position in Boyd Gaming during the 2nd quarter worth $205,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BYD has been the topic of several analyst reports. JPMorgan Chase & Co. lifted 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. Mizuho lifted their target price on shares of Boyd Gaming from $89.00 to $99.00 and gave the company an "outperform" rating in a report on Friday. Susquehanna downgraded shares of Boyd Gaming from a "positive" rating to a "neutral" rating and lifted their target price for the company from $76.00 to $86.00 in a report on Friday, July 11th. Morgan Stanley reaffirmed a "sell" rating on shares of Boyd Gaming in a report on Friday, July 11th. Finally, Stifel Nicolaus lifted their target price on shares of Boyd Gaming from $87.00 to $90.00 and gave the company a "hold" rating in a report on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $89.67.

Boyd Gaming Stock Down 7.1%

Shares of NYSE:BYD opened at $78.92 on Friday. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 3.45, a price-to-earnings-growth ratio of 2.11 and a beta of 1.30. Boyd Gaming Corporation has a 1-year low of $58.94 and a 1-year high of $88.49. The company's fifty day moving average is $84.52 and its two-hundred day moving average is $79.00. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share (EPS) for the quarter. Boyd Gaming had a net margin of 46.02% and a return on equity of 41.97%. The firm had revenue of $707.32 million during the quarter. Equities analysts anticipate that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 15th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. Boyd Gaming's payout ratio is 11.08%.

Insider Activity

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $84.17, for a total value of $8,417,000.00. Following the completion of the sale, the chairman owned 1,504,379 shares in the company, valued at approximately $126,623,580.43. This trade represents a 6.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Josh Hirsberg sold 40,035 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $85.41, for a total transaction of $3,419,389.35. Following the completion of the sale, the chief financial officer directly owned 420,185 shares in the company, valued at $35,888,000.85. This trade represents a 8.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 385,438 shares of company stock worth $32,638,085. Corporate insiders own 27.94% of the company's stock.

Boyd Gaming Company 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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