Boyd Gaming Co. (NYSE:BYD) Stake Lessened by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lowered its holdings in Boyd Gaming Co. (NYSE:BYD) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,930 shares of the company’s stock after selling 339 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Boyd Gaming were worth $648,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Freestone Grove Partners LP purchased a new stake in shares of Boyd Gaming in the fourth quarter valued at $638,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Boyd Gaming in the fourth quarter valued at $208,000. AdvisorShares Investments LLC lifted its holdings in shares of Boyd Gaming by 84.3% in the fourth quarter. AdvisorShares Investments LLC now owns 14,431 shares of the company’s stock valued at $1,047,000 after purchasing an additional 6,600 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Boyd Gaming by 14.9% in the fourth quarter. Northern Trust Corp now owns 597,431 shares of the company’s stock valued at $43,338,000 after purchasing an additional 77,619 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Boyd Gaming by 94.5% in the fourth quarter. Quarry LP now owns 1,698 shares of the company’s stock valued at $123,000 after purchasing an additional 825 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Price Performance

NYSE BYD opened at $72.04 on Monday. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $80.50. The stock’s 50-day moving average is $67.17 and its two-hundred day moving average is $71.61. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. The firm has a market cap of $5.86 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 4.46 and a beta of 1.32.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.10. The company had revenue of $991.57 million for 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%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $1.51 earnings per share. On average, analysts anticipate that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Monday, June 16th. Boyd Gaming’s dividend payout ratio (DPR) is presently 11.75%.

Wall Street Analysts Forecast Growth

BYD has been the subject of a number of research analyst reports. Stifel Nicolaus reduced their target price on Boyd Gaming from $82.00 to $71.00 and set a “hold” rating for the company in a report on Friday, April 25th. StockNews.com lowered Boyd Gaming from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 27th. 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 report on Tuesday, April 22nd. Truist Financial cut their price objective on Boyd Gaming from $92.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Finally, JMP Securities reiterated a “market perform” rating on shares of Boyd Gaming in a report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Boyd Gaming currently has an average rating of “Moderate Buy” and an average price target of $95.07.

Insider Buying and Selling

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,125 shares of Boyd Gaming stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $75.28, for a total transaction of $84,690.00. Following the sale, the director now directly owns 4,852 shares of the company’s stock, valued at approximately $365,258.56. The trade was a 18.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William R. Boyd sold 15,000 shares of Boyd Gaming stock in a transaction that occurred on 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 sale, the director now directly owns 1,472,970 shares in the company, valued at $116,835,980.40. The trade was a 1.01% 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 three months. 27.94% of the stock is owned by corporate 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.