Jennison Associates LLC Sells 377,825 Shares of Boyd Gaming Co. (NYSE:BYD)

Jennison Associates LLC lowered its stake in shares of Boyd Gaming Co. (NYSE:BYD) by 68.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 176,979 shares of the company’s stock after selling 377,825 shares during the period. Jennison Associates LLC owned 0.18% of Boyd Gaming worth $11,081,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Boyd Gaming by 2.1% in the third quarter. Vanguard Group Inc. now owns 7,980,306 shares of the company’s stock worth $485,442,000 after purchasing an additional 167,849 shares in the last quarter. HG Vora Capital Management LLC increased its holdings in Boyd Gaming by 12.5% during the 3rd quarter. HG Vora Capital Management LLC now owns 2,250,000 shares of the company’s stock worth $136,868,000 after acquiring an additional 250,000 shares during the period. Fuller & Thaler Asset Management Inc. lifted its stake in Boyd Gaming by 885.4% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,657,441 shares of the company’s stock worth $100,822,000 after purchasing an additional 1,489,240 shares in the last quarter. American Century Companies Inc. grew its position in shares of Boyd Gaming by 40.5% during the 3rd quarter. American Century Companies Inc. now owns 824,200 shares of the company’s stock valued at $50,136,000 after purchasing an additional 237,525 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Boyd Gaming by 0.4% in the third quarter. Wellington Management Group LLP now owns 351,783 shares of the company’s stock worth $21,399,000 after purchasing an additional 1,516 shares during the period. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Stock Performance

Shares of BYD stock opened at $62.89 on Friday. The company’s fifty day moving average price is $64.19 and its 200-day moving average price is $62.06. The stock has a market cap of $6.02 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 2.98 and a beta of 1.60. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. Boyd Gaming Co. has a 12 month low of $52.42 and a 12 month high of $73.00.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.23. Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. The business had revenue of $954.41 million for the quarter, compared to analysts’ expectations of $928.04 million. During the same quarter in the prior year, the company earned $1.72 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. On average, equities analysts expect that Boyd Gaming Co. will post 6.19 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.08%. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, March 14th. Boyd Gaming’s dividend payout ratio is 11.15%.

Insiders Place Their Bets

In related news, major shareholder William S. Boyd sold 63,464 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the completion of the sale, the insider now owns 8,795,449 shares of the company’s stock, valued at $555,168,740.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder William S. Boyd sold 63,464 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total value of $4,005,847.68. Following the completion of the transaction, the insider now owns 8,795,449 shares in the company, valued at $555,168,740.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Ted Bogich sold 41,631 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $64.79, for a total value of $2,697,272.49. Following the transaction, the chief operating officer now directly owns 66,803 shares in the company, valued at $4,328,166.37. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 582,910 shares of company stock valued at $37,299,461. Insiders own 27.94% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Susquehanna restated a “neutral” rating and set a $75.00 target price (down from $84.00) on shares of Boyd Gaming in a research report on Monday, February 12th. Mizuho assumed coverage on shares of Boyd Gaming in a report on Tuesday, March 26th. They issued a “buy” rating and a $80.00 price target on the stock. StockNews.com upgraded Boyd Gaming from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Wells Fargo & Company boosted their target price on Boyd Gaming from $81.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Finally, Barclays upped their target price on Boyd Gaming from $66.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Boyd Gaming presently has an average rating of “Hold” and an average price target of $74.30.

About Boyd Gaming

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.