Quantbot Technologies LP Sells 22,951 Shares of Boyd Gaming Corporation $BYD

Key Points

• Quantbot Technologies LP significantly reduced its stake in Boyd Gaming Corporation by 84.6%, selling 22,951 shares, leaving it with just 4,185 shares valued at approximately $275,000.
• Insiders, including CFO Josh Hirsberg and COO Ted Bogich, sold a combined 56,532 shares of Boyd Gaming in August, indicating a drop in ownership and raising concerns about insider confidence.
• Boyd Gaming recently reported $1.87 earnings per share for the last quarter, exceeding analyst estimates, and announced a quarterly dividend of $0.18 per share, contributing to a 0.8% yield.

Quantbot Technologies LP decreased its holdings in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) by 84.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,185 shares of the company's stock after selling 22,951 shares during the period. Quantbot Technologies LP's holdings in Boyd Gaming were worth $275,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. CoreCap Advisors LLC boosted its position in shares of Boyd Gaming by 91.0% during the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock valued at $42,000 after purchasing an additional 273 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Boyd Gaming by 68.0% during the 1st quarter. GAMMA Investing LLC now owns 773 shares of the company's stock valued at $51,000 after purchasing an additional 313 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Boyd Gaming by 156.0% during the 1st quarter. UMB Bank n.a. now owns 1,006 shares of the company's stock valued at $66,000 after purchasing an additional 613 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Boyd Gaming by 28.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,210 shares of the company's stock valued at $80,000 after purchasing an additional 265 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its position in shares of Boyd Gaming by 76.9% during the 1st quarter. Golden State Wealth Management LLC now owns 1,636 shares of the company's stock valued at $108,000 after purchasing an additional 711 shares in the last quarter. Institutional investors own 76.81% of the company's stock.

Boyd Gaming Stock Down 0.6%

Shares of BYD stock traded down $0.51 during trading on Tuesday, hitting $85.36. 95,299 shares of the company were exchanged, compared to its average volume of 1,045,646. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a market capitalization of $6.84 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 2.43 and a beta of 1.23. The business's 50-day simple moving average is $83.00 and its 200 day simple moving average is $75.15. Boyd Gaming Corporation has a twelve month low of $57.67 and a twelve month high of $87.83.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.67 by $0.20. The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $976.81 million. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $1.58 earnings per share. As a group, analysts forecast that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a $0.18 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.72 dividend on an annualized basis and a yield of 0.8%. Boyd Gaming's payout ratio is 11.08%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BYD. Morgan Stanley restated a "sell" rating on shares of Boyd Gaming in a research report on Friday, July 11th. Susquehanna downgraded shares of Boyd Gaming from a "positive" rating to a "neutral" rating and lifted their target price for the stock from $76.00 to $86.00 in a research report on Friday, July 11th. JPMorgan Chase & Co. started coverage on shares of Boyd Gaming in a research report on Monday, June 23rd. They issued a "neutral" rating and a $79.00 target price on the stock. 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 report on Wednesday, July 16th. Finally, Stifel Nicolaus lifted their target price on shares of Boyd Gaming from $87.00 to $90.00 and gave the stock a "hold" rating in a research report on Friday, July 25th. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Boyd Gaming currently has an average rating of "Hold" and a consensus price target of $86.62.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, CEO Keith Smith sold 25,000 shares of Boyd Gaming stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $85.21, for a total value of $2,130,250.00. Following the completion of the sale, the chief executive officer directly owned 1,046,689 shares in the company, valued at $89,188,369.69. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William R. Boyd sold 9,774 shares of Boyd Gaming stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $81.61, for a total transaction of $797,656.14. Following the completion of the sale, the director owned 15,188 shares of the company's stock, valued at $1,239,492.68. This trade represents a 39.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 285,438 shares of company stock valued at $23,976,085. Insiders own 21.97% of the company's stock.

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.