Penn Capital Management Company LLC Decreases Stake in Boyd Gaming Co. (NYSE:BYD)

Penn Capital Management Company LLC decreased its stake in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 162,266 shares of the company's stock after selling 20,858 shares during the quarter. Penn Capital Management Company LLC owned about 0.18% of Boyd Gaming worth $11,771,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC raised its position in Boyd Gaming by 23.9% in the third quarter. Barclays PLC now owns 167,542 shares of the company's stock valued at $10,831,000 after purchasing an additional 32,332 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Boyd Gaming in the third quarter valued at about $64,000. GAMMA Investing LLC boosted its stake in Boyd Gaming by 47.4% during the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company's stock worth $33,000 after buying an additional 148 shares during the period. Miracle Mile Advisors LLC purchased a new stake in shares of Boyd Gaming in the 4th quarter valued at approximately $306,000. Finally, Burney Co. lifted its holdings in shares of Boyd Gaming by 7.7% in the 4th quarter. Burney Co. now owns 29,598 shares of the company's stock worth $2,147,000 after acquiring an additional 2,125 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BYD shares. Morgan Stanley decreased their price target on Boyd Gaming from $75.00 to $72.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Jefferies Financial Group upgraded Boyd Gaming from a "hold" rating to a "buy" rating and raised their target price for the company from $73.00 to $92.00 in a report on Friday, January 3rd. Macquarie reiterated a "neutral" rating and set a $74.00 price target on shares of Boyd Gaming in a research note on Friday. Wells Fargo & Company lifted their price objective on shares of Boyd Gaming from $82.00 to $88.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Finally, Barclays reduced their target price on shares of Boyd Gaming from $78.00 to $73.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $95.07.

Insiders Place Their Bets

In related news, Director Christine J. Spadafor sold 1,125 shares of the business's stock in a transaction dated 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 owns 4,852 shares in the company, valued at $365,258.56. The trade was a 18.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of Boyd Gaming stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total value 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. This trade represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,125 shares of company stock valued at $5,158,490 over the last quarter. Company insiders own 27.94% of the company's stock.

Boyd Gaming Stock Down 0.3 %

Boyd Gaming stock traded down $0.20 during mid-day trading on Tuesday, hitting $69.09. The company had a trading volume of 242,455 shares, compared to its average volume of 963,252. 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 1 year low of $49.34 and a 1 year high of $80.50. The business has a fifty day moving average of $68.17 and a 200 day moving average of $71.25. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 4.46 and a beta of 1.31.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.52 by $0.10. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. The firm had revenue of $991.57 million for the quarter, compared to analyst estimates of $976.38 million. During the same period last year, the business earned $1.51 EPS. Boyd Gaming's revenue for the quarter was up 3.2% compared to the same quarter last year. On average, sell-side analysts expect that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Monday, March 17th. This is an increase from Boyd Gaming's previous quarterly dividend of $0.17. Boyd Gaming's dividend payout ratio (DPR) is currently 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.