Orvieto Partners L.P. Invests $2.90 Million in Boyd Gaming Co. (NYSE:BYD)

Orvieto Partners L.P. purchased a new stake in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 40,000 shares of the company's stock, valued at approximately $2,902,000. Boyd Gaming accounts for about 2.4% of Orvieto Partners L.P.'s portfolio, making the stock its 17th largest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UMB Bank n.a. lifted its position in shares of Boyd Gaming by 80.3% during the 4th quarter. UMB Bank n.a. now owns 393 shares of the company's stock valued at $29,000 after acquiring an additional 175 shares during the period. GAMMA Investing LLC lifted its position in shares of Boyd Gaming by 47.4% during the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company's stock valued at $33,000 after acquiring an additional 148 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Boyd Gaming during the 3rd quarter valued at approximately $64,000. Golden State Wealth Management LLC acquired a new position in shares of Boyd Gaming during the 4th quarter worth approximately $67,000. Finally, Investment Counsel Co. of Nevada acquired a new position in shares of Boyd Gaming during the 4th quarter worth approximately $73,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Boyd Gaming Stock Down 0.6 %

NYSE BYD traded down $0.40 during mid-day trading on Tuesday, reaching $68.88. 224,579 shares of the company's stock traded hands, compared to its average volume of 963,154. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $80.50. The company has a fifty day simple moving average of $68.17 and a 200-day simple moving average of $71.25. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 4.46 and a beta of 1.31.

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

Boyd Gaming Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were given a $0.18 dividend. This is a positive change from Boyd Gaming's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.72 annualized dividend and a dividend yield of 1.05%. Boyd Gaming's dividend payout ratio (DPR) is presently 11.75%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BYD. Barclays cut their price objective on Boyd Gaming from $78.00 to $73.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group upgraded Boyd Gaming from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $73.00 to $92.00 in a research report on Friday, January 3rd. Wells Fargo & Company lifted their target price on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. JPMorgan Chase & Co. lifted their target price on shares of Boyd Gaming from $74.00 to $80.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Finally, StockNews.com cut shares of Boyd Gaming from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, Boyd Gaming currently has an average rating of "Moderate Buy" and an average target price of $95.07.

Insider Transactions at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the completion of the transaction, the chairman now owns 1,346,628 shares in the company, valued at $104,606,063.04. The trade was a 3.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christine J. Spadafor sold 1,125 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $75.28, for a total value of $84,690.00. Following the transaction, the director now owns 4,852 shares of the company's stock, valued at $365,258.56. This represents a 18.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,125 shares of company stock worth $5,158,490. 27.94% of the stock is currently owned by corporate insiders.

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.