Boyd Gaming Co. (NYSE:BYD) Shares Acquired by Channing Capital Management LLC

Channing Capital Management LLC grew its stake in Boyd Gaming Co. (NYSE:BYD) by 26.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 833,239 shares of the company’s stock after acquiring an additional 172,427 shares during the period. Channing Capital Management LLC owned about 0.85% of Boyd Gaming worth $52,169,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Deutsche Bank AG raised its position in Boyd Gaming by 23.3% in the third quarter. Deutsche Bank AG now owns 230,397 shares of the company’s stock valued at $14,015,000 after purchasing an additional 43,578 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Boyd Gaming in the 4th quarter valued at $117,720,000. Choreo LLC acquired a new position in Boyd Gaming during the 4th quarter worth about $1,037,000. Sei Investments Co. boosted its holdings in Boyd Gaming by 8.6% during the 3rd quarter. Sei Investments Co. now owns 243,365 shares of the company’s stock valued at $14,804,000 after acquiring an additional 19,256 shares during the period. Finally, UBS Group AG grew its position in Boyd Gaming by 4.9% in the 3rd quarter. UBS Group AG now owns 274,235 shares of the company’s stock valued at $16,682,000 after acquiring an additional 12,798 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Boyd Gaming Stock Down 0.1 %

Shares of NYSE:BYD traded down $0.04 on Friday, hitting $54.12. 973,128 shares of the company’s stock were exchanged, compared to its average volume of 1,189,039. Boyd Gaming Co. has a 1-year low of $52.42 and a 1-year high of $73.00. The company has a market capitalization of $5.18 billion, a PE ratio of 9.72, a P/E/G ratio of 2.59 and a beta of 1.64. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 0.89. The firm’s 50-day moving average is $63.04 and its 200 day moving average is $61.81.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, February 8th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The firm had revenue of $954.41 million during the quarter, compared to the consensus estimate of $928.04 million. Boyd Gaming had a return on equity of 34.77% and a net margin of 14.91%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.72 earnings per share. Sell-side analysts predict that Boyd Gaming Co. will post 6.06 EPS for the current year.

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a $0.17 dividend. The ex-dividend date was Thursday, March 14th. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.26%. Boyd Gaming’s payout ratio is 12.21%.

Wall Street Analysts Forecast Growth

BYD has been the topic of several research reports. Argus cut shares of Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. cut shares of Boyd Gaming from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $80.00 to $67.00 in a research report on Friday, April 26th. Mizuho cut their price objective on Boyd Gaming from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Truist Financial decreased their target price on Boyd Gaming from $80.00 to $75.00 and set a “buy” rating for the company in a report on Friday, April 26th. Finally, Deutsche Bank Aktiengesellschaft cut Boyd Gaming from a “buy” rating to a “hold” rating and lowered their target price for the stock from $78.00 to $71.00 in a research note on Friday, April 26th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $72.20.

Insider Buying and Selling at Boyd Gaming

In other news, VP William R. Boyd sold 50,000 shares of Boyd Gaming stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $64.04, for a total transaction of $3,202,000.00. Following the sale, the vice president now owns 1,617,970 shares in the company, valued at $103,614,798.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Ted Bogich sold 41,631 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $64.79, for a total transaction of $2,697,272.49. Following the transaction, the chief operating officer now directly owns 66,803 shares in the company, valued at $4,328,166.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP William R. Boyd sold 50,000 shares of Boyd Gaming stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $64.04, for a total transaction of $3,202,000.00. Following the completion of the transaction, the vice president now directly owns 1,617,970 shares in the company, valued at $103,614,798.80. The disclosure for this sale can be found here. Insiders sold 582,910 shares of company stock worth $37,299,461 over the last 90 days. Corporate insiders own 27.94% of the company’s stock.

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.