Exchange Traded Concepts LLC Sells 2,470 Shares of Boyd Gaming Co. (NYSE:BYD)

Exchange Traded Concepts LLC lowered its holdings in Boyd Gaming Co. (NYSE:BYD) by 13.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,434 shares of the company’s stock after selling 2,470 shares during the period. Exchange Traded Concepts LLC’s holdings in Boyd Gaming were worth $1,062,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Long Pond Capital LP bought a new position in shares of Boyd Gaming in the 2nd quarter valued at about $20,440,000. Ariel Investments LLC grew its stake in Boyd Gaming by 12.5% in the second quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock valued at $167,046,000 after purchasing an additional 335,984 shares in the last quarter. Boston Partners increased its position in shares of Boyd Gaming by 10.0% during the 1st quarter. Boston Partners now owns 3,031,091 shares of the company’s stock worth $203,276,000 after purchasing an additional 274,876 shares during the last quarter. Beck Bode LLC bought a new stake in shares of Boyd Gaming during the 1st quarter worth approximately $15,985,000. Finally, Scout Investments Inc. boosted its holdings in shares of Boyd Gaming by 68.7% in the 1st quarter. Scout Investments Inc. now owns 487,441 shares of the company’s stock valued at $32,985,000 after buying an additional 198,490 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BYD. StockNews.com upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Stifel Nicolaus upped their target price on shares of Boyd Gaming from $65.00 to $67.00 and gave the company a “hold” rating in a report on Friday, July 26th. Bank of America lifted their price target on Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Morgan Stanley upgraded Boyd Gaming from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $66.00 to $74.00 in a research note on Wednesday, September 4th. Finally, Macquarie reduced 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 research 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, Boyd Gaming has a consensus rating of “Moderate Buy” and a consensus price target of $89.31.

Boyd Gaming Stock Up 1.9 %

NYSE BYD opened at $65.36 on Thursday. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 11.73 and a beta of 1.57. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $68.46. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 1.70. The company has a 50 day moving average of $61.22 and a 200-day moving average of $58.46.

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

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Sunday, September 15th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Friday, September 13th. Boyd Gaming’s dividend payout ratio is currently 12.21%.

Insider Activity

In related news, Chairman Marianne Boyd Johnson sold 73,130 shares of Boyd Gaming stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total value of $4,404,619.90. Following the transaction, the chairman now directly owns 1,423,498 shares of the company’s stock, valued at $85,737,284.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $60.36, for a total transaction of $74,967.12. Following the sale, the director now directly owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the transaction, the chairman now owns 1,423,498 shares of the company’s stock, valued at approximately $85,737,284.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 27.94% 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.