Vanguard Group Inc. Sells 73,508 Shares of Boyd Gaming Corporation $BYD

Vanguard Group Inc. cut its holdings in Boyd Gaming Corporation (NYSE:BYD) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,747,531 shares of the company’s stock after selling 73,508 shares during the period. Vanguard Group Inc. owned about 7.36% of Boyd Gaming worth $496,874,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BYD. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Boyd Gaming by 219.8% during the 2nd 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. Advisors Asset Management Inc. increased its holdings in Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after buying an additional 196 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Boyd Gaming in the second quarter worth about $39,000. True Wealth Design LLC raised its position in Boyd Gaming by 162.1% in the third quarter. True Wealth Design LLC now owns 532 shares of the company’s stock worth $46,000 after acquiring an additional 329 shares during the period. Finally, SJS Investment Consulting Inc. purchased a new position in Boyd Gaming in the third quarter valued at about $48,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Price Performance

BYD stock opened at $85.05 on Thursday. The firm has a 50 day moving average of $85.34 and a 200-day moving average of $83.83. The company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $6.42 billion, a P/E ratio of 3.74, a price-to-earnings-growth ratio of 1.79 and a beta of 1.24. Boyd Gaming Corporation has a 12 month low of $58.94 and a 12 month high of $89.96.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, February 5th. The company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.33. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Boyd Gaming had a net margin of 45.05% and a return on equity of 30.14%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.96 EPS. As a group, sell-side analysts predict that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 16th. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.18. Boyd Gaming’s dividend payout ratio is currently 3.16%.

Insiders Place Their Bets

In other Boyd Gaming news, Director William R. Boyd sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $84.84, for a total value of $2,545,200.00. Following the sale, the director owned 1,930,447 shares of the company’s stock, valued at $163,779,123.48. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 27.94% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Truist Financial set a $110.00 price target on shares of Boyd Gaming in a research note on Tuesday, January 13th. UBS Group set a $110.00 target price on Boyd Gaming in a research report on Wednesday, December 24th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Boyd Gaming in a research report on Wednesday, December 24th. Wells Fargo & Company decreased their price objective on Boyd Gaming from $85.00 to $84.00 and set an “equal weight” rating for the company in a report on Monday, February 9th. Finally, Citigroup began coverage on shares of Boyd Gaming in a report on Thursday, November 20th. They set a “neutral” rating and a $86.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $92.58.

Boyd Gaming 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.