Boyd Gaming Co. (BYD) Stake Lessened by Fox Run Management L.L.C.

Fox Run Management L.L.C. cut its stake in Boyd Gaming Co. (NYSE:BYD) by 49.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,807 shares of the company’s stock after selling 13,401 shares during the period. Fox Run Management L.L.C.’s holdings in Boyd Gaming were worth $467,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Boyd Gaming by 7.7% in the second quarter. BlackRock Inc. now owns 9,407,833 shares of the company’s stock valued at $326,077,000 after acquiring an additional 670,588 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Boyd Gaming by 15.9% in the second quarter. Millennium Management LLC now owns 1,486,709 shares of the company’s stock valued at $51,529,000 after acquiring an additional 203,895 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Boyd Gaming by 8.9% in the second quarter. Northern Trust Corp now owns 1,400,181 shares of the company’s stock valued at $48,530,000 after acquiring an additional 114,063 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Boyd Gaming by 142.1% in the second quarter. Bank of America Corp DE now owns 1,344,703 shares of the company’s stock valued at $46,608,000 after acquiring an additional 789,296 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in shares of Boyd Gaming by 14.2% in the second quarter. Glenmede Trust Co. NA now owns 1,307,248 shares of the company’s stock valued at $45,310,000 after acquiring an additional 162,154 shares in the last quarter. Institutional investors and hedge funds own 72.39% of the company’s stock.

BYD stock opened at $31.73 on Tuesday. Boyd Gaming Co. has a 12 month low of $26.96 and a 12 month high of $40.44. The company has a market cap of $3.80 billion, a P/E ratio of 30.86, a price-to-earnings-growth ratio of 1.73 and a beta of 1.58. The company has a quick ratio of 1.99, a current ratio of 2.03 and a debt-to-equity ratio of 3.05.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, July 26th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Boyd Gaming had a net margin of 7.72% and a return on equity of 12.73%. The business had revenue of $616.80 million during the quarter, compared to analyst estimates of $608.94 million. During the same period in the prior year, the business earned $0.26 earnings per share. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts predict that Boyd Gaming Co. will post 1.3 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.76%. The ex-dividend date is Thursday, September 27th. Boyd Gaming’s dividend payout ratio is presently 23.30%.

Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Wednesday, September 26th. Jefferies Financial Group upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Tuesday, August 14th. ValuEngine cut shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 8th. JPMorgan Chase & Co. increased their price objective on shares of Boyd Gaming from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Finally, Morgan Stanley increased their price objective on shares of Boyd Gaming from $35.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, June 26th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $40.33.

In related news, VP William R. Boyd sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $37.00, for a total value of $259,000.00. Following the completion of the sale, the vice president now owns 21,903 shares in the company, valued at approximately $810,411. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Marianne Boyd Johnson sold 26,493 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $36.41, for a total transaction of $964,610.13. Following the completion of the sale, the insider now owns 231,173 shares of the company’s stock, valued at approximately $8,417,008.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,000 shares of company stock valued at $2,428,514. Company insiders own 28.88% of the company’s stock.

About Boyd Gaming

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South. As of December 31, 2017, the company owned and operated 24 gaming entertainment properties offering a total of 1,358,856 square feet of casino space, 30,267 slot machines, 632 table games, and 9,372 hotel rooms located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, and Mississippi.

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Institutional Ownership by Quarter for Boyd Gaming (NYSE:BYD)

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