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

Cresset Asset Management LLC lowered its stake in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 91.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,320 shares of the company's stock after selling 33,573 shares during the quarter. Cresset Asset Management LLC's holdings in Boyd Gaming were worth $241,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BYD. Barclays PLC grew its holdings in shares of Boyd Gaming by 23.9% during the third quarter. Barclays PLC now owns 167,542 shares of the company's stock worth $10,831,000 after buying an additional 32,332 shares during the last quarter. Kera Capital Partners Inc. purchased a new stake in Boyd Gaming in the 4th quarter valued at approximately $220,000. Aaron Wealth Advisors LLC purchased a new stake in Boyd Gaming in the 4th quarter valued at approximately $265,000. UMB Bank n.a. boosted its holdings in Boyd Gaming by 80.3% in the 4th quarter. UMB Bank n.a. now owns 393 shares of the company's stock valued at $29,000 after purchasing an additional 175 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. boosted its holdings in Boyd Gaming by 900.0% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 10,000 shares of the company's stock valued at $725,000 after purchasing an additional 9,000 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company's stock.

Insider Activity

In other news, Director Christine J. Spadafor sold 1,125 shares of the business's stock in a transaction 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 27.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BYD. JMP Securities reiterated a "market perform" rating on shares of Boyd Gaming in a research report on Friday, February 7th. Mizuho reduced their price target on shares of Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Susquehanna lifted their price target on shares of Boyd Gaming from $75.00 to $76.00 and gave the company a "positive" rating in a research report on Friday, April 25th. Wells Fargo & Company lifted their price target on shares of Boyd Gaming from $82.00 to $88.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Finally, Wall Street Zen downgraded shares of Boyd Gaming from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 27th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Boyd Gaming presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.67.

Boyd Gaming Trading Down 0.3%

BYD stock traded down $0.25 during midday trading on Friday, hitting $73.08. The stock had a trading volume of 948,361 shares, compared to its average volume of 943,208. The firm has a market cap of $5.95 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 4.46 and a beta of 1.32. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. Boyd Gaming Co. has a 12-month low of $49.34 and a 12-month high of $80.50. The company's 50-day moving average price is $68.37 and its 200 day moving average price is $71.92.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.52 by $0.10. The firm had revenue of $991.57 million during 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 for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.51 EPS. On average, equities research analysts predict that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.72 annualized dividend and a dividend yield of 0.99%. Boyd Gaming's dividend payout ratio is presently 11.75%.

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.