Pinnacle Associates Ltd. Reduces Stock Position in Boyd Gaming Corporation (NYSE:BYD)

Pinnacle Associates Ltd. decreased its position in Boyd Gaming Corporation (NYSE:BYD - Free Report) by 3.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 467,333 shares of the company's stock after selling 15,350 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.57% of Boyd Gaming worth $30,765,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. CoreCap Advisors LLC raised its stake in shares of Boyd Gaming by 91.0% in the fourth quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock worth $42,000 after buying an additional 273 shares during the period. GAMMA Investing LLC raised its stake in shares of Boyd Gaming by 68.0% in the first quarter. GAMMA Investing LLC now owns 773 shares of the company's stock worth $51,000 after buying an additional 313 shares during the period. Investment Counsel Co. of Nevada bought a new position in shares of Boyd Gaming in the fourth quarter worth about $73,000. UMB Bank n.a. raised its stake in shares of Boyd Gaming by 156.0% in the first quarter. UMB Bank n.a. now owns 1,006 shares of the company's stock worth $66,000 after buying an additional 613 shares during the period. Finally, Atlas Capital Advisors Inc. bought a new position in shares of Boyd Gaming in the fourth quarter worth about $109,000. Institutional investors own 76.81% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BYD. Stifel Nicolaus raised their price objective on Boyd Gaming from $76.00 to $87.00 and gave the stock a "hold" rating in a research note on Friday, July 11th. Macquarie reissued a "neutral" rating and set a $74.00 target price on shares of Boyd Gaming in a research note on Friday, April 25th. Barclays lifted their target price on Boyd Gaming from $73.00 to $87.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Mizuho decreased their target price on Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Finally, Raymond James Financial lifted their target price on Boyd Gaming from $81.00 to $85.00 and gave the company an "outperform" rating in a research note on Monday, June 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Boyd Gaming presently has an average rating of "Hold" and a consensus price target of $84.85.

Boyd Gaming Price Performance

NYSE BYD traded down $1.14 during trading on Thursday, hitting $82.34. 2,048,164 shares of the stock traded hands, compared to its average volume of 1,358,737. The company has a market capitalization of $6.70 billion, a P/E ratio of 13.43 and a beta of 1.26. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 2.57. The firm has a 50-day simple moving average of $77.70 and a 200-day simple moving average of $73.48. Boyd Gaming Corporation has a 12-month low of $52.76 and a 12-month high of $87.76.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.67 by $0.20. Boyd Gaming had a return on equity of 38.34% and a net margin of 13.96%. The company's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.58 earnings per share. As a group, analysts predict 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 Tuesday, July 15th. Stockholders of record on Monday, June 16th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Monday, June 16th. Boyd Gaming's dividend payout ratio (DPR) is 11.75%.

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.