Deutsche Bank AG Trims Holdings in Boyd Gaming Co. (NYSE:BYD)

Deutsche Bank AG lowered its stake in shares of Boyd Gaming Co. (NYSE:BYD) by 34.0% in the fourth quarter, HoldingsChannel reports. The fund owned 205,768 shares of the company’s stock after selling 106,114 shares during the quarter. Deutsche Bank AG’s holdings in Boyd Gaming were worth $14,926,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. UMB Bank n.a. increased its stake in shares of Boyd Gaming by 80.3% during the 4th quarter. UMB Bank n.a. now owns 393 shares of the company’s stock valued at $29,000 after acquiring an additional 175 shares during the last quarter. CoreCap Advisors LLC increased its position in Boyd Gaming by 91.0% during the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company’s stock worth $42,000 after purchasing an additional 273 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Boyd Gaming during the 4th quarter worth approximately $67,000. Investment Counsel Co. of Nevada acquired a new stake in Boyd Gaming during the 4th quarter worth approximately $73,000. Finally, Allworth Financial LP increased its position in Boyd Gaming by 2,735.1% during the 4th quarter. Allworth Financial LP now owns 1,049 shares of the company’s stock worth $79,000 after purchasing an additional 1,012 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

Insider Activity

In related news, Director Christine J. Spadafor sold 1,125 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $75.28, for a total transaction of $84,690.00. Following the transaction, the director now directly owns 4,852 shares in the company, valued at $365,258.56. This trade represents a 18.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William R. Boyd sold 15,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total value of $1,189,800.00. Following the transaction, the director now owns 1,472,970 shares in the company, valued at $116,835,980.40. This trade represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 27.94% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on BYD shares. Barclays dropped their target price on shares of Boyd Gaming from $78.00 to $73.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Susquehanna increased their target price on shares of Boyd Gaming from $75.00 to $76.00 and gave the stock a “positive” rating in a research report on Friday, April 25th. Wells Fargo & Company increased their target price on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. JMP Securities reissued a “market perform” rating on shares of Boyd Gaming in a research report on Friday, February 7th. Finally, Macquarie reissued a “neutral” rating and set a $74.00 target price on shares of Boyd Gaming in a research report on Friday, April 25th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.07.

Boyd Gaming Stock Down 0.8%

NYSE BYD opened at $75.45 on Friday. The stock has a market cap of $6.14 billion, a PE ratio of 12.13, a P/E/G ratio of 4.46 and a beta of 1.32. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The business has a 50 day moving average price of $67.59 and a two-hundred day moving average price of $71.73. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $80.50.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, April 24th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.52 by $0.10. The company had revenue of $991.57 million during the quarter, compared to analysts’ expectations of $976.38 million. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. The business’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.51 EPS. As a group, sell-side analysts predict that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Monday, June 16th. Boyd Gaming’s dividend payout ratio (DPR) is currently 11.75%.

Boyd Gaming Profile

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.