Versor Investments LP Sells 26,420 Shares of Boyd Gaming Corporation $BYD

Versor Investments LP decreased its holdings in Boyd Gaming Corporation (NYSE:BYD) by 81.9% in the second quarter, HoldingsChannel.com reports. The fund owned 5,820 shares of the company’s stock after selling 26,420 shares during the period. Versor Investments LP’s holdings in Boyd Gaming were worth $455,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its stake in Boyd Gaming by 24.5% in the second quarter. Parallel Advisors LLC now owns 685 shares of the company’s stock worth $54,000 after acquiring an additional 135 shares during the period. GAMMA Investing LLC lifted its stake in Boyd Gaming by 24.2% in the second quarter. GAMMA Investing LLC now owns 960 shares of the company’s stock worth $75,000 after acquiring an additional 187 shares during the period. Advisors Asset Management Inc. lifted its stake in Boyd Gaming by 56.8% in the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after acquiring an additional 196 shares during the period. Louisiana State Employees Retirement System lifted its stake in Boyd Gaming by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the company’s stock worth $1,224,000 after acquiring an additional 200 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its stake in Boyd Gaming by 7.1% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,000 shares of the company’s stock worth $263,000 after acquiring an additional 265 shares during the period. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Marianne Boyd Johnson sold 100,000 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $86.62, for a total transaction of $8,662,000.00. Following the completion of the transaction, the chairman directly owned 1,704,379 shares in the company, valued at $147,633,308.98. This trade represents a 5.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William R. Boyd sold 9,774 shares of Boyd Gaming stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $81.61, for a total value of $797,656.14. Following the completion of the sale, the director owned 15,188 shares of the company’s stock, valued at $1,239,492.68. The trade was a 39.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 353,035 shares of company stock valued at $29,941,690 over the last ninety days. Insiders own 27.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Morgan Stanley raised their price target on Boyd Gaming from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. Mizuho increased their price objective on Boyd Gaming from $89.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Boyd Gaming in a report on Wednesday, October 8th. Macquarie reiterated a “neutral” rating and issued a $90.00 price objective on shares of Boyd Gaming in a report on Friday, October 24th. Finally, Zacks Research downgraded Boyd Gaming from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $90.08.

Boyd Gaming Price Performance

Shares of NYSE:BYD opened at $79.41 on Wednesday. Boyd Gaming Corporation has a 1-year low of $58.94 and a 1-year high of $88.49. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.86 and a quick ratio of 0.82. The business has a fifty day moving average price of $83.67 and a 200-day moving average price of $79.84. The company has a market capitalization of $6.37 billion, a PE ratio of 3.47, a PEG ratio of 2.02 and a beta of 1.30.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share for the quarter. Boyd Gaming had a return on equity of 41.97% and a net margin of 46.02%.The firm had revenue of $707.32 million during the quarter. As a group, equities analysts expect that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th were issued a dividend of $0.18 per share. The ex-dividend date was Monday, September 15th. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. Boyd Gaming’s dividend payout ratio (DPR) is presently 3.15%.

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.