Tidal Investments LLC Sells 4,667 Shares of Boyd Gaming Co. (NYSE:BYD)

Tidal Investments LLC trimmed its holdings in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 41.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,518 shares of the company's stock after selling 4,667 shares during the period. Tidal Investments LLC's holdings in Boyd Gaming were worth $473,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Boston Partners raised its stake in Boyd Gaming by 36.9% in the 4th quarter. Boston Partners now owns 3,955,544 shares of the company's stock valued at $287,185,000 after acquiring an additional 1,065,887 shares during the period. Norges Bank bought a new stake in Boyd Gaming in the 4th quarter valued at about $55,553,000. Raymond James Financial Inc. purchased a new position in Boyd Gaming during the 4th quarter valued at about $43,273,000. Arrowstreet Capital Limited Partnership grew its holdings in Boyd Gaming by 51.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company's stock valued at $94,074,000 after buying an additional 441,963 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Boyd Gaming by 37.2% during the 4th quarter. Franklin Resources Inc. now owns 964,051 shares of the company's stock valued at $69,932,000 after buying an additional 261,443 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors.

Boyd Gaming Trading Up 0.6%

BYD stock traded up $0.42 during midday trading on Tuesday, hitting $74.77. The company had a trading volume of 783,027 shares, compared to its average volume of 936,723. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. Boyd Gaming Co. has a 52 week low of $51.62 and a 52 week high of $80.50. The stock's 50 day moving average price is $69.25 and its 200 day moving average price is $71.98. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 4.46 and a beta of 1.32.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.10. The firm had revenue of $991.57 million during the quarter, compared to the consensus estimate of $976.38 million. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. The business's revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.51 earnings per share. As a group, equities research analysts expect that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.96%. Boyd Gaming's dividend payout ratio is presently 11.75%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BYD. Susquehanna lifted their target price on Boyd Gaming from $75.00 to $76.00 and gave the company a "positive" rating in a report on Friday, April 25th. Wall Street Zen lowered Boyd Gaming from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 27th. Morgan Stanley cut their price objective on Boyd Gaming from $75.00 to $72.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company boosted their price objective on Boyd Gaming from $82.00 to $88.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Finally, Mizuho cut their price objective on Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. 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.com, Boyd Gaming presently has an average rating of "Moderate Buy" and a consensus target price of $79.67.

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.