Schonfeld Strategic Advisors LLC Sells 52,761 Shares of Boyd Gaming Co. (NYSE:BYD)

Schonfeld Strategic Advisors LLC reduced its stake in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 88.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,839 shares of the company's stock after selling 52,761 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Boyd Gaming were worth $496,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Macquarie reiterated a "neutral" rating and issued a $74.00 price objective on shares of Boyd Gaming in a research note on Friday, April 25th. Morgan Stanley decreased their price target on Boyd Gaming from $75.00 to $72.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Susquehanna upped their price objective on Boyd Gaming from $75.00 to $76.00 and gave the company a "positive" rating in a research note on Friday, April 25th. Stifel Nicolaus lowered their target price on Boyd Gaming from $82.00 to $71.00 and set a "hold" rating on the stock in a research note on Friday, April 25th. Finally, JMP Securities restated a "market perform" rating on shares of Boyd Gaming in a research report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $95.07.

Boyd Gaming Stock Up 0.7 %

Shares of NYSE BYD opened at $72.04 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The company has a market cap of $5.94 billion, a P/E ratio of 11.58, a P/E/G ratio of 4.46 and a beta of 1.32. 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 simple moving average of $67.17 and a two-hundred day simple moving average of $71.56.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.62 EPS for the quarter, beating 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 company had revenue of $991.57 million during the quarter, compared to analysts' expectations of $976.38 million. During the same quarter in the previous year, the company earned $1.51 earnings per share. Boyd Gaming's revenue for the quarter was up 3.2% on a year-over-year basis. Research analysts anticipate that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The firm 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 $0.18 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.00%. Boyd Gaming's dividend payout ratio (DPR) is presently 11.75%.

Insider Activity at Boyd Gaming

In other news, Chairman Marianne Boyd Johnson sold 50,000 shares of the stock in a transaction 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 transaction, the chairman now owns 1,346,628 shares of the company's stock, valued at $104,606,063.04. This represents a 3.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 transaction of $1,189,800.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,125 shares of company stock valued at $5,158,490. Company insiders own 21.97% of the company's stock.

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.

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