Bwcp LP Cuts Stock Position in Boyd Gaming Co. (NYSE:BYD)

Bwcp LP lowered its position in Boyd Gaming Co. (NYSE:BYD) by 12.0% in the 4th quarter, Holdings Channel reports. The firm owned 489,369 shares of the company’s stock after selling 66,571 shares during the quarter. Boyd Gaming accounts for approximately 7.6% of Bwcp LP’s portfolio, making the stock its biggest position. Bwcp LP’s holdings in Boyd Gaming were worth $35,499,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. UMB Bank n.a. boosted its position 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 purchasing an additional 175 shares in the last quarter. GAMMA Investing LLC raised its stake in Boyd Gaming by 47.4% in the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Boyd Gaming in the 3rd quarter valued at $64,000. Golden State Wealth Management LLC acquired a new stake in Boyd Gaming during the 4th quarter worth $67,000. Finally, Investment Counsel Co. of Nevada purchased a new stake in shares of Boyd Gaming during the fourth quarter worth $73,000. Institutional investors own 76.81% of the company’s stock.

Insider Transactions at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 50,000 shares of the stock in a transaction dated 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 transaction, the chairman now owns 1,346,628 shares of the company’s stock, valued at approximately $104,606,063.04. This represents a 3.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William R. Boyd sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total value of $1,189,800.00. Following 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. In the last three months, insiders have sold 66,125 shares of company stock worth $5,158,490. 27.94% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BYD. Stifel Nicolaus lowered their price target on shares of Boyd Gaming from $82.00 to $71.00 and set a “hold” rating on the stock in a research report on Friday, April 25th. Morgan Stanley lowered their target price on Boyd Gaming from $75.00 to $72.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. JMP Securities restated a “market perform” rating on shares of Boyd Gaming in a research report on Friday, February 7th. StockNews.com downgraded Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. upped their target price on Boyd Gaming from $74.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.07.

Boyd Gaming Price Performance

NYSE:BYD opened at $69.16 on Friday. Boyd Gaming Co. has a 52 week low of $49.34 and a 52 week high of $80.50. The stock’s fifty day moving average is $67.67 and its two-hundred day moving average is $71.26. The company has a market capitalization of $5.71 billion, a P/E ratio of 11.12, a P/E/G ratio of 4.46 and a beta of 1.31. 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 (NYSE:BYD) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.62 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $976.38 million. During the same period last year, the company earned $1.51 EPS. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Equities analysts expect that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.04%. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, March 17th. Boyd Gaming’s payout ratio is 11.75%.

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.