Frontier Capital Management Co. LLC Lowers Holdings in Boyd Gaming Co. (NYSE:BYD)

Frontier Capital Management Co. LLC lessened its stake in Boyd Gaming Co. (NYSE:BYD - Free Report) by 32.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 182,809 shares of the company's stock after selling 87,692 shares during the quarter. Frontier Capital Management Co. LLC owned 0.21% of Boyd Gaming worth $13,261,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in BYD. Boston Partners grew its holdings in shares of Boyd Gaming by 36.9% during the fourth quarter. Boston Partners now owns 3,955,544 shares of the company's stock worth $287,185,000 after purchasing an additional 1,065,887 shares during the last quarter. Norges Bank acquired a new stake in shares of Boyd Gaming in the fourth quarter valued at approximately $55,553,000. Raymond James Financial Inc. purchased a new position in shares of Boyd Gaming during the fourth quarter worth approximately $43,273,000. Arrowstreet Capital Limited Partnership raised its position in Boyd Gaming by 51.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company's stock valued at $94,074,000 after purchasing an additional 441,963 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Boyd Gaming by 37.2% during the 4th quarter. Franklin Resources Inc. now owns 964,051 shares of the company's stock worth $69,932,000 after purchasing an additional 261,443 shares during the period. Institutional investors and hedge funds own 76.81% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Barclays lowered their price target on Boyd Gaming from $78.00 to $73.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company lifted 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. Stifel Nicolaus dropped their price target on Boyd Gaming from $82.00 to $71.00 and set a "hold" rating for the company in a research report on Friday, April 25th. Susquehanna raised their target price on shares of Boyd Gaming from $75.00 to $76.00 and gave the company a "positive" rating in a report on Friday, April 25th. Finally, Truist Financial lowered their price target on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $95.07.

Insider Activity

In other news, Director Christine J. Spadafor sold 1,125 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was 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 owns 4,852 shares in the company, valued at $365,258.56. The trade was a 18.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William R. Boyd sold 15,000 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total value of $1,189,800.00. Following the sale, the director now owns 1,472,970 shares of the company's stock, valued at $116,835,980.40. This trade represents a 1.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 27.94% of the company's stock.

Boyd Gaming Stock Up 0.7%

Shares of BYD stock traded up $0.50 during trading hours on Wednesday, hitting $75.86. 476,616 shares of the company were exchanged, compared to its average volume of 948,570. The company has a market capitalization of $6.18 billion, a PE ratio of 12.20, a PEG ratio of 4.46 and a beta of 1.32. 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 $49.34 and a 52 week high of $80.50. The business has a 50 day moving average of $67.27 and a two-hundred day moving average of $71.67.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.10. The business 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 company's quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.51 EPS. Analysts anticipate that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be given a dividend of $0.18 per share. The ex-dividend date is Monday, June 16th. This represents a $0.72 dividend on an annualized basis and a yield of 0.95%. 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.