Gamco Investors INC. ET AL Sells 66,540 Shares of Boyd Gaming Corporation $BYD

Key Points

• Gamco Investors INC. ET AL sold 66,540 shares of Boyd Gaming, reducing its holdings by 12.5% to approximately 466,510 shares. The fund's stake is now valued at $30.71 million.
• Boyd Gaming's stock has a consensus rating of "Hold" from analysts, with an average price target of $86.62, reflecting mixed sentiment after various firms recently adjusted their price objectives.
• The company recently announced a $0.18 quarterly dividend, which will be paid on October 15th, representing a dividend yield of 0.8%.

Gamco Investors INC. ET AL trimmed its holdings in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 466,510 shares of the company's stock after selling 66,540 shares during the quarter. Gamco Investors INC. ET AL owned 0.57% of Boyd Gaming worth $30,710,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BYD. CoreCap Advisors LLC lifted its position in shares of Boyd Gaming by 91.0% during the fourth quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock worth $42,000 after purchasing an additional 273 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Boyd Gaming by 68.0% during the first quarter. GAMMA Investing LLC now owns 773 shares of the company's stock worth $51,000 after purchasing an additional 313 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Boyd Gaming by 156.0% during the first quarter. UMB Bank n.a. now owns 1,006 shares of the company's stock worth $66,000 after purchasing an additional 613 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Boyd Gaming by 28.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,210 shares of the company's stock valued at $80,000 after acquiring an additional 265 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of Boyd Gaming by 76.9% in the first quarter. Golden State Wealth Management LLC now owns 1,636 shares of the company's stock valued at $108,000 after acquiring an additional 711 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on BYD shares. JPMorgan Chase & Co. started coverage on Boyd Gaming in a report on Monday, June 23rd. They issued a "neutral" rating and a $79.00 price objective for the company. Morgan Stanley restated a "sell" rating on shares of Boyd Gaming in a report on Friday, July 11th. Stifel Nicolaus lifted their price objective on Boyd Gaming from $87.00 to $90.00 and gave the company a "hold" rating in a report on Friday, July 25th. Truist Financial lifted their price objective on Boyd Gaming from $85.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Mizuho lifted their price objective on Boyd Gaming from $86.00 to $89.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $86.62.

Insider Buying and Selling at Boyd Gaming

In related news, CFO Josh Hirsberg sold 40,035 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $85.41, for a total value of $3,419,389.35. Following the sale, the chief financial officer owned 420,185 shares in the company, valued at $35,888,000.85. This represents a 8.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Ted Bogich sold 16,497 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $83.18, for a total value of $1,372,220.46. Following the completion of the sale, the chief operating officer owned 45,116 shares in the company, valued at approximately $3,752,748.88. This represents a 26.78% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 285,438 shares of company stock valued at $23,976,085. Insiders own 21.97% of the company's stock.

Boyd Gaming Price Performance

Shares of BYD stock opened at $86.2080 on Tuesday. Boyd Gaming Corporation has a fifty-two week low of $57.67 and a fifty-two week high of $87.76. The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 2.42 and a beta of 1.24. 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 stock's 50-day simple moving average is $81.95 and its 200-day simple moving average is $74.84.

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

Boyd Gaming Dividend Announcement

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.