Cresset Asset Management LLC Lowers Stock Holdings in Boyd Gaming Co. (NYSE:BYD)

Cresset Asset Management LLC lowered its position in Boyd Gaming Co. (NYSE:BYD - Free Report) by 91.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,320 shares of the company's stock after selling 33,573 shares during the period. Cresset Asset Management LLC's holdings in Boyd Gaming were worth $241,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. UMB Bank n.a. lifted its stake in shares of Boyd Gaming by 80.3% during the 4th quarter. UMB Bank n.a. now owns 393 shares of the company's stock worth $29,000 after purchasing an additional 175 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of Boyd Gaming during the fourth quarter worth about $67,000. Investment Counsel Co. of Nevada bought a new position in Boyd Gaming during the 4th quarter valued at $73,000. Allworth Financial LP grew its stake in Boyd Gaming by 2,735.1% in the fourth quarter. Allworth Financial LP now owns 1,049 shares of the company's stock worth $79,000 after purchasing an additional 1,012 shares in the last quarter. Finally, Atlas Capital Advisors Inc. acquired a new position in Boyd Gaming in the fourth quarter worth about $109,000. Institutional investors and hedge funds own 76.81% of the company's stock.

Insider Transactions at Boyd Gaming

In related news, Director Christine J. Spadafor sold 1,125 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $75.28, for a total transaction of $84,690.00. Following the transaction, the director now owns 4,852 shares in the company, valued at $365,258.56. This represents a 18.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William R. Boyd sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the sale, 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. Corporate insiders own 27.94% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Macquarie reiterated a "neutral" rating and set a $74.00 price objective on shares of Boyd Gaming in a research report on Friday, April 25th. Mizuho cut their target price 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. Stifel Nicolaus lowered their price target on shares of Boyd Gaming from $82.00 to $71.00 and set a "hold" rating on the stock in a report on Friday, April 25th. Truist Financial decreased their price objective on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Finally, StockNews.com cut shares of Boyd Gaming from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 27th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Boyd Gaming has an average rating of "Moderate Buy" and a consensus target price of $78.69.

Boyd Gaming Stock Down 0.8%

Boyd Gaming stock traded down $0.62 during midday trading on Tuesday, hitting $74.05. 488,697 shares of the stock were exchanged, compared to its average volume of 947,161. Boyd Gaming Co. has a 52-week low of $49.34 and a 52-week high of $80.50. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 4.46 and a beta of 1.32. The business's 50-day moving average price is $68.09 and its 200-day moving average price is $71.84. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.10. The company 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%. Boyd Gaming's revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.51 EPS. On average, research analysts expect that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Monday, June 16th. Boyd Gaming's dividend payout ratio is currently 11.75%.

About Boyd Gaming

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.