Boyd Gaming Co. (NYSE:BYD) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its holdings in Boyd Gaming Co. (NYSE:BYD) by 28.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,756 shares of the company’s stock after selling 20,966 shares during the quarter. Federated Hermes Inc.’s holdings in Boyd Gaming were worth $2,962,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Principal Securities Inc. acquired a new position in Boyd Gaming in the fourth quarter valued at $50,000. Norges Bank acquired a new position in Boyd Gaming in the 4th quarter valued at about $44,773,000. Franklin Resources Inc. raised its stake in Boyd Gaming by 20.1% during the 4th quarter. Franklin Resources Inc. now owns 627,542 shares of the company’s stock valued at $39,290,000 after acquiring an additional 105,142 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Boyd Gaming by 15.1% in the 4th quarter. Hsbc Holdings PLC now owns 257,566 shares of the company’s stock valued at $16,108,000 after purchasing an additional 33,861 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Boyd Gaming in the 4th quarter valued at approximately $4,336,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Insider Buying and Selling at Boyd Gaming

In other news, Director Christine J. Spadafor sold 1,242 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $60.36, for a total value of $74,967.12. Following the sale, the director now directly owns 1,096 shares in the company, valued at $66,154.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the sale, the chairman now owns 1,423,498 shares in the company, valued at $85,737,284.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the completion of the sale, the director now directly owns 1,096 shares of the company’s stock, valued at $66,154.56. The disclosure for this sale can be found here. 27.94% of the stock is owned by insiders.

Boyd Gaming Trading Up 1.9 %

Shares of BYD stock opened at $64.15 on Friday. The stock has a market cap of $6.09 billion, a P/E ratio of 11.48, a P/E/G ratio of 8.56 and a beta of 1.57. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 1.70. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $68.46. The business has a fifty day simple moving average of $58.85 and a 200-day simple moving average of $58.42.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, July 25th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.09. Boyd Gaming had a net margin of 13.32% and a return on equity of 34.29%. The firm had revenue of $967.50 million during the quarter, compared to the consensus estimate of $909.49 million. During the same period last year, the firm posted $1.58 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts forecast that Boyd Gaming Co. will post 6.25 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Sunday, September 15th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Friday, September 13th. Boyd Gaming’s payout ratio is currently 12.21%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BYD shares. Stifel Nicolaus upped their price target on Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Bank of America lifted their target price on shares of Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday. Morgan Stanley raised shares of Boyd Gaming from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $66.00 to $74.00 in a report on Wednesday, September 4th. StockNews.com raised Boyd Gaming from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, Macquarie cut their target price on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.31.

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.