Harvest Portfolios Group Inc. Trims Position in Boyd Gaming Co. (NYSE:BYD)

Harvest Portfolios Group Inc. reduced its position in shares of Boyd Gaming Co. (NYSE:BYD) by 6.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,020 shares of the company’s stock after selling 885 shares during the period. Harvest Portfolios Group Inc.’s holdings in Boyd Gaming were worth $777,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BYD. Allspring Global Investments Holdings LLC increased its stake in Boyd Gaming by 57.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock worth $35,000 after acquiring an additional 189 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Boyd Gaming by 115.0% in the first quarter. BNP Paribas Financial Markets now owns 67,755 shares of the company’s stock valued at $4,561,000 after purchasing an additional 36,237 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in Boyd Gaming by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 60,810 shares of the company’s stock valued at $4,094,000 after purchasing an additional 786 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in Boyd Gaming in the 1st quarter worth approximately $222,000. Finally, Sei Investments Co. increased its holdings in shares of Boyd Gaming by 14.7% in the 1st quarter. Sei Investments Co. now owns 398,823 shares of the company’s stock worth $26,849,000 after buying an additional 51,252 shares during the last quarter. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on BYD shares. Stifel Nicolaus upped their target price on shares of Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Macquarie cut their price objective on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, July 26th. JPMorgan Chase & Co. raised their price objective on Boyd Gaming from $68.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Wells Fargo & Company upped their target price on Boyd Gaming from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Mizuho reissued an “outperform” rating and set a $79.00 price target (up from $78.00) on shares of Boyd Gaming in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Boyd Gaming has an average rating of “Moderate Buy” and a consensus target price of $91.38.

Boyd Gaming Stock Performance

Shares of NYSE:BYD opened at $71.62 on Thursday. 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 $6.57 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 8.96 and a beta of 1.55. Boyd Gaming Co. has a 12 month low of $49.34 and a 12 month high of $73.35. The company has a 50-day moving average price of $63.90 and a 200-day moving average price of $58.64.

Boyd Gaming Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Sunday, September 15th were given a $0.17 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.95%. Boyd Gaming’s dividend payout ratio is currently 12.98%.

Insider Transactions at Boyd Gaming

In related news, Director Christine J. Spadafor sold 1,242 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $60.36, for a total value of $74,967.12. Following the completion of the sale, the director now owns 1,096 shares of the company’s stock, valued at $66,154.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 73,130 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the transaction, the chairman now owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christine J. Spadafor sold 1,242 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $60.36, for a total value of $74,967.12. Following the completion of the sale, the director now directly owns 1,096 shares in the company, valued at approximately $66,154.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 99,527 shares of company stock worth $6,224,086. 28.40% of the stock is currently owned by insiders.

Boyd Gaming 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.