GSA Capital Partners LLP Sells 7,082 Shares of Boyd Gaming Corporation $BYD

GSA Capital Partners LLP reduced its position in Boyd Gaming Corporation (NYSE:BYD) by 70.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,971 shares of the company’s stock after selling 7,082 shares during the quarter. GSA Capital Partners LLP’s holdings in Boyd Gaming were worth $257,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BYD. Arrowstreet Capital Limited Partnership increased its holdings in Boyd Gaming by 3.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,324,668 shares of the company’s stock valued at $103,629,000 after buying an additional 39,905 shares during the period. American Century Companies Inc. boosted its position in shares of Boyd Gaming by 11.7% during the 2nd quarter. American Century Companies Inc. now owns 1,213,024 shares of the company’s stock valued at $94,895,000 after acquiring an additional 127,167 shares in the last quarter. First Trust Advisors LP increased its stake in Boyd Gaming by 679.7% in the second quarter. First Trust Advisors LP now owns 1,122,869 shares of the company’s stock valued at $87,842,000 after acquiring an additional 978,853 shares during the period. Franklin Resources Inc. increased its stake in Boyd Gaming by 3.0% in the second quarter. Franklin Resources Inc. now owns 1,047,415 shares of the company’s stock valued at $81,939,000 after acquiring an additional 30,471 shares during the period. Finally, Norges Bank acquired a new position in Boyd Gaming in the second quarter worth about $54,933,000. Institutional investors and hedge funds own 76.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in 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 report on Wednesday, February 11th. Mizuho set a $100.00 target price on Boyd Gaming in a research report on Monday, February 2nd. Wells Fargo & Company lowered their price target on Boyd Gaming from $85.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Monday, February 9th. Morgan Stanley set a $86.00 price objective on Boyd Gaming in a research note on Wednesday, February 11th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Boyd Gaming in a research note on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $92.58.

Insider Buying and Selling

In other Boyd Gaming news, Director William R. Boyd sold 30,000 shares of the stock in a transaction on 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 transaction, the director directly owned 1,930,447 shares in the company, valued at approximately $163,779,123.48. This trade represents a 1.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 27.94% of the company’s stock.

Boyd Gaming Stock Performance

Boyd Gaming stock opened at $83.19 on Friday. The stock has a 50-day simple moving average of $85.32 and a 200 day simple moving average of $83.88. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 3.66, a P/E/G ratio of 1.75 and a beta of 1.24. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.78. Boyd Gaming Corporation has a 12-month low of $58.94 and a 12-month high of $89.96.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, February 5th. The company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.33. Boyd Gaming had a net margin of 45.05% and a return on equity of 30.14%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm posted $1.96 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. On average, research analysts anticipate that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.80 annualized dividend and a yield of 1.0%. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.18. Boyd Gaming’s dividend payout ratio (DPR) is currently 3.16%.

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.