GC Wealth Management RIA LLC Sells 8,271 Shares of Boyd Gaming Corporation $BYD

GC Wealth Management RIA LLC lowered its position in shares of Boyd Gaming Corporation (NYSE:BYD) by 74.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,771 shares of the company’s stock after selling 8,271 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Boyd Gaming were worth $236,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in Boyd Gaming by 56.8% in the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after buying an additional 196 shares in the last quarter. AQR Capital Management LLC grew its stake in Boyd Gaming by 13.9% during the first quarter. AQR Capital Management LLC now owns 9,623 shares of the company’s stock worth $628,000 after buying an additional 1,172 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of Boyd Gaming during the first quarter worth approximately $207,000. M&T Bank Corp bought a new position in shares of Boyd Gaming in the second quarter valued at approximately $229,000. Finally, Amundi boosted its holdings in shares of Boyd Gaming by 14,719.0% in the 2nd quarter. Amundi now owns 3,112 shares of the company’s stock worth $253,000 after acquiring an additional 3,091 shares in the last quarter. 76.81% of the stock is owned by institutional investors.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Director William R. Boyd sold 30,000 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $84.84, for a total transaction of $2,545,200.00. Following the transaction, the director directly owned 1,930,447 shares in the company, valued at approximately $163,779,123.48. This represents a 1.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephen S. Thompson sold 19,530 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $83.59, for a total transaction of $1,632,512.70. Following the completion of the transaction, the insider directly owned 22,009 shares in the company, valued at $1,839,732.31. This trade represents a 47.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 73,454 shares of company stock worth $6,231,827 over the last 90 days. Insiders own 22.82% of the company’s stock.

Wall Street Analysts Forecast Growth

BYD has been the topic of a number of research analyst reports. Susquehanna decreased their price target on Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Mizuho reduced their price objective on Boyd Gaming from $99.00 to $96.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. Barclays decreased their target price on Boyd Gaming from $87.00 to $86.00 and set an “equal weight” rating on the stock in a report on Friday, April 24th. Stifel Nicolaus lowered their target price on Boyd Gaming from $95.00 to $91.00 and set a “hold” rating for the company in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. lifted their price target on Boyd Gaming from $89.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $92.08.

Boyd Gaming Stock Performance

Shares of Boyd Gaming stock opened at $84.49 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.54 and a quick ratio of 0.52. The firm has a 50 day simple moving average of $84.08 and a 200 day simple moving average of $83.59. Boyd Gaming Corporation has a fifty-two week low of $68.98 and a fifty-two week high of $89.96. The firm has a market cap of $6.36 billion, a P/E ratio of 3.70, a P/E/G ratio of 1.93 and a beta of 1.12.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($0.16). The firm had revenue of $997.36 million for the quarter, compared to analyst estimates of $1.04 billion. Boyd Gaming had a return on equity of 26.53% and a net margin of 44.84%.The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.62 EPS. Sell-side analysts predict that Boyd Gaming Corporation will post 7.41 earnings per share for the current fiscal year.

Boyd Gaming declared that its Board of Directors has initiated a share repurchase plan on Thursday, April 23rd that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Boyd Gaming Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, March 16th. Boyd Gaming’s payout ratio is currently 3.51%.

Boyd Gaming Company Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.