Gabelli Funds LLC Sells 7,700 Shares of Boyd Gaming Corporation $BYD

Gabelli Funds LLC trimmed its position in shares of Boyd Gaming Corporation (NYSE:BYD) by 6.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,000 shares of the company’s stock after selling 7,700 shares during the period. Gabelli Funds LLC’s holdings in Boyd Gaming were worth $8,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Boyd Gaming by 219.8% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock worth $29,000 after purchasing an additional 255 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after buying an additional 196 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Boyd Gaming in the 2nd quarter worth $39,000. Parallel Advisors LLC increased its holdings in shares of Boyd Gaming by 24.5% in the 2nd quarter. Parallel Advisors LLC now owns 685 shares of the company’s stock worth $54,000 after buying an additional 135 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Boyd Gaming by 24.2% during the 2nd quarter. GAMMA Investing LLC now owns 960 shares of the company’s stock valued at $75,000 after buying an additional 187 shares in the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

Boyd Gaming Stock Performance

BYD stock opened at $79.60 on Tuesday. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of 3.48, a PEG ratio of 2.16 and a beta of 1.24. Boyd Gaming Corporation has a twelve month low of $58.94 and a twelve month high of $88.49. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 0.71. The business’s fifty day simple moving average is $81.66 and its two-hundred day simple moving average is $81.51.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Tuesday, April 11th. The company reported $1.35 EPS for the quarter. Boyd Gaming had a net margin of 46.02% and a return on equity of 34.63%. The firm had revenue of $707.32 million for the quarter. Analysts predict that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. Boyd Gaming’s dividend payout ratio (DPR) is 3.15%.

Analyst Ratings Changes

BYD has been the topic of several analyst reports. Macquarie reissued a “neutral” rating and set a $90.00 price objective on shares of Boyd Gaming in a research note on Friday, October 24th. Wells Fargo & Company started coverage on Boyd Gaming in a research report on Tuesday, November 18th. They set an “equal weight” rating and a $85.00 target price on the stock. Raymond James Financial restated an “outperform” rating on shares of Boyd Gaming in a report on Monday, September 8th. Morgan Stanley raised their price target on Boyd Gaming from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Boyd Gaming in a research report on Monday, December 1st. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Boyd Gaming presently has an average rating of “Hold” and an average target price of $89.54.

Insider Buying and Selling at Boyd Gaming

In other news, Director William R. Boyd sold 20,000 shares of Boyd Gaming stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the completion of the sale, the director owned 1,960,447 shares of the company’s stock, valued at approximately $157,541,520.92. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 21.97% of the company’s stock.

About Boyd Gaming

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.