Boyd Gaming Co. (NYSE:BYD) Position Cut by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its position in shares of Boyd Gaming Co. (NYSE:BYD) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,019 shares of the company’s stock after selling 2,174 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Boyd Gaming were worth $2,540,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. UMB Bank n.a. boosted its stake in Boyd Gaming by 80.3% during the 4th quarter. UMB Bank n.a. now owns 393 shares of the company’s stock valued at $29,000 after purchasing an additional 175 shares during the period. GAMMA Investing LLC raised its holdings in shares of Boyd Gaming by 47.4% during the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 148 shares during the last quarter. Covestor Ltd boosted its position in shares of Boyd Gaming by 54.9% during the third quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after buying an additional 208 shares during the period. Quarry LP grew its holdings in Boyd Gaming by 150.1% in the 3rd quarter. Quarry LP now owns 873 shares of the company’s stock worth $56,000 after buying an additional 524 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in Boyd Gaming by 921.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock valued at $57,000 after acquiring an additional 802 shares during the period. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Trading Down 4.0 %

Shares of NYSE BYD opened at $68.95 on Friday. 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 Co. has a 12 month low of $49.34 and a 12 month high of $80.50. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 4.46 and a beta of 1.54. The business has a fifty day simple moving average of $75.25 and a 200-day simple moving average of $69.99.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, February 6th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. Sell-side analysts predict that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming declared that its board has authorized a share buyback program on Thursday, December 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Boyd Gaming Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.04%. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Monday, March 17th. Boyd Gaming’s payout ratio is presently 11.58%.

Insider Buying and Selling at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the completion of the sale, the chairman now directly owns 1,346,628 shares in the company, valued at approximately $104,606,063.04. This trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Christine J. Spadafor sold 660 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $75.68, for a total transaction of $49,948.80. Following the completion of the transaction, the director now owns 5,977 shares in the company, valued at approximately $452,339.36. This represents a 9.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,785 shares of company stock valued at $5,208,439 in the last three months. 27.94% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BYD. JPMorgan Chase & Co. boosted their price target on Boyd Gaming from $74.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Stifel Nicolaus upped their price objective on shares of Boyd Gaming from $74.00 to $82.00 and gave the stock a “hold” rating in a report on Friday, February 7th. Jefferies Financial Group raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and raised their target price for the company from $73.00 to $92.00 in a research note on Friday, January 3rd. Argus raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Tuesday, December 17th. Finally, Barclays raised their price objective on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.20.

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.