Kingsview Wealth Management LLC Lowers Stock Holdings in Boyd Gaming Corporation $BYD

Kingsview Wealth Management LLC cut its holdings in Boyd Gaming Corporation (NYSE:BYD) by 18.4% in the third quarter, Holdings Channel reports. The institutional investor owned 34,012 shares of the company’s stock after selling 7,680 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Boyd Gaming were worth $2,940,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted 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 buying an additional 255 shares in the last quarter. Advisors Asset Management Inc. raised its position 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 acquiring an additional 196 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Boyd Gaming during the second quarter valued at $39,000. True Wealth Design LLC lifted its holdings in Boyd Gaming by 162.1% during the third quarter. True Wealth Design LLC now owns 532 shares of the company’s stock valued at $46,000 after purchasing an additional 329 shares in the last quarter. Finally, SJS Investment Consulting Inc. acquired a new stake in shares of Boyd Gaming in the third quarter valued at about $48,000. 76.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BYD has been the subject of several research analyst reports. Citigroup began coverage on shares of Boyd Gaming in a research report on Thursday, November 20th. They set a “neutral” rating and a $86.00 price target for the company. Wells Fargo & Company cut their price objective on Boyd Gaming from $85.00 to $84.00 and set an “equal weight” rating for the company in a research note on Monday, February 9th. Mizuho set a $100.00 target price on Boyd Gaming in a research report on Monday, February 2nd. Susquehanna lowered their price target on Boyd Gaming from $90.00 to $89.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 11th. Finally, Morgan Stanley set a $86.00 price objective on Boyd Gaming in a research note on Wednesday, February 11th. Five 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 stock currently has an average rating of “Hold” and an average price target of $92.58.

Insider Buying and Selling

In other Boyd Gaming news, insider Stephen S. Thompson sold 19,530 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $83.59, for a total value of $1,632,512.70. Following the transaction, the insider directly owned 22,009 shares in the company, valued at $1,839,732.31. The trade was a 47.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William R. Boyd sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $84.84, for a total transaction 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 represents a 1.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 73,454 shares of company stock worth $6,231,827. Insiders own 27.94% of the company’s stock.

Boyd Gaming Trading Up 1.0%

BYD opened at $82.18 on Thursday. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 3.61, a price-to-earnings-growth ratio of 1.71 and a beta of 1.20. The company’s 50 day simple moving average is $85.08 and its two-hundred day simple moving average is $83.84. Boyd Gaming Corporation has a 1-year low of $58.94 and a 1-year high of $89.96. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.54 and a quick ratio of 0.52.

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

Boyd Gaming Increases Dividend

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