Hudson Bay Capital Management LP Trims Stock Position in Boyd Gaming Co. (NYSE:BYD)

Hudson Bay Capital Management LP reduced its stake in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 12.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,202 shares of the company's stock after selling 22,798 shares during the quarter. Hudson Bay Capital Management LP owned approximately 0.18% of Boyd Gaming worth $11,258,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Cohen & Steers Inc. boosted its holdings in shares of Boyd Gaming by 0.4% in the 4th quarter. Cohen & Steers Inc. now owns 5,265,454 shares of the company's stock valued at $381,929,000 after buying an additional 21,616 shares in the last quarter. Boston Partners boosted its stake in Boyd Gaming by 36.9% in the fourth 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 in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Boyd Gaming by 51.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company's stock worth $94,074,000 after purchasing an additional 441,963 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Boyd Gaming by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 974,973 shares of the company's stock worth $70,725,000 after purchasing an additional 3,052 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Boyd Gaming by 37.2% in 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 in the last quarter. Institutional investors own 76.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Macquarie reiterated a "neutral" rating and issued a $74.00 price target on shares of Boyd Gaming in a research note on Friday, April 25th. Susquehanna increased their price objective 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. Barclays cut their price target on shares of Boyd Gaming from $78.00 to $73.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Mizuho lowered their price objective on shares of Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Finally, JMP Securities reissued a "market perform" rating on shares of Boyd Gaming in a research report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $95.07.

Insider Buying and Selling

In related news, Director William R. Boyd sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the transaction, the director now owns 1,472,970 shares in the company, valued at $116,835,980.40. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christine J. Spadafor sold 1,125 shares of Boyd Gaming stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $75.28, for a total value of $84,690.00. Following the transaction, the director now directly owns 4,852 shares in the company, valued at approximately $365,258.56. This trade represents a 18.82% 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 Down 0.8%

Boyd Gaming stock traded down $0.63 during mid-day trading on Thursday, reaching $75.45. 491,058 shares of the company's stock were exchanged, compared to its average volume of 949,560. 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 Co. has a twelve month low of $49.34 and a twelve month high of $80.50. The company has a market cap of $6.14 billion, a P/E ratio of 12.13, a P/E/G ratio of 4.46 and a beta of 1.32. The company has a fifty day moving average of $67.41 and a 200-day moving average of $71.70.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.52 by $0.10. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. The firm had revenue of $991.57 million during the quarter, compared to analyst estimates of $976.38 million. During the same period last year, the business posted $1.51 earnings per share. Boyd Gaming's revenue was up 3.2% compared to the same quarter last year. Sell-side analysts expect that Boyd Gaming Co. will post 6.52 EPS for the current 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 given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Monday, June 16th. Boyd Gaming's dividend payout ratio is presently 11.75%.

Boyd Gaming Company 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.