Hodges Capital Management Inc. Sells 15,555 Shares of Boyd Gaming Corporation $BYD

Hodges Capital Management Inc. reduced its position in shares of Boyd Gaming Corporation (NYSE:BYD) by 32.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 32,225 shares of the company’s stock after selling 15,555 shares during the quarter. Hodges Capital Management Inc.’s holdings in Boyd Gaming were worth $2,786,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Boyd Gaming by 219.8% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock valued at $29,000 after purchasing an additional 255 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Boyd Gaming during the 2nd quarter valued at about $39,000. True Wealth Design LLC lifted its holdings in shares of Boyd Gaming by 162.1% in the 3rd quarter. True Wealth Design LLC now owns 532 shares of the company’s stock valued at $46,000 after acquiring an additional 329 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after acquiring an additional 196 shares during the last quarter. Finally, SJS Investment Consulting Inc. purchased a new position in Boyd Gaming in the third quarter worth about $48,000. 76.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BYD shares. Susquehanna decreased their price objective on Boyd Gaming from $90.00 to $89.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 11th. UBS Group set a $110.00 price objective on shares of Boyd Gaming in a research report on Wednesday, December 24th. Morgan Stanley set a $86.00 target price on shares of Boyd Gaming in a research note on Wednesday, February 11th. Citigroup assumed coverage on shares of Boyd Gaming in a report on Thursday, November 20th. They issued a “neutral” rating and a $86.00 target price for the company. Finally, Wells Fargo & Company cut their price target on shares of Boyd Gaming from $85.00 to $84.00 and set an “equal weight” rating on the stock in a report on Monday, February 9th. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $92.58.

Boyd Gaming Price Performance

Boyd Gaming stock opened at $83.29 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.51 and a quick ratio of 0.49. The stock has a market cap of $6.51 billion, a price-to-earnings ratio of 3.66, a price-to-earnings-growth ratio of 1.73 and a beta of 1.24. The firm has a 50-day moving average of $85.27 and a two-hundred day moving average of $83.75. Boyd Gaming Corporation has a 1 year low of $58.94 and a 1 year high of $89.96.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, February 5th. The company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.33. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Boyd Gaming had a net margin of 45.05% and a return on equity of 33.49%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company posted $1.96 earnings per share. On average, research analysts forecast that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 15th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, December 15th. Boyd Gaming’s dividend payout ratio is currently 3.16%.

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.