Amalgamated Bank Sells 5,187 Shares of Boyd Gaming Co. (NYSE:BYD)

Amalgamated Bank lessened its stake in shares of Boyd Gaming Co. (NYSE:BYD) by 10.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,546 shares of the company’s stock after selling 5,187 shares during the quarter. Amalgamated Bank’s holdings in Boyd Gaming were worth $2,344,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Boyd Gaming by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 473,682 shares of the company’s stock worth $26,101,000 after acquiring an additional 19,938 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Boyd Gaming by 20.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 49,639 shares of the company’s stock worth $2,735,000 after purchasing an additional 8,591 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Boyd Gaming by 22.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 9,054 shares of the company’s stock valued at $499,000 after purchasing an additional 1,647 shares during the period. DekaBank Deutsche Girozentrale increased its stake in Boyd Gaming by 9.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 48,703 shares of the company’s stock valued at $2,688,000 after purchasing an additional 4,328 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Boyd Gaming by 19.7% during the second quarter. American Century Companies Inc. now owns 1,149,701 shares of the company’s stock worth $63,349,000 after buying an additional 189,226 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Boyd Gaming Trading Down 0.3 %

Shares of Boyd Gaming stock opened at $64.06 on Wednesday. The firm has a market cap of $6.08 billion, a PE ratio of 11.50, a P/E/G ratio of 8.56 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 debt-to-equity ratio of 1.70, a current ratio of 0.83 and a quick ratio of 0.79. The stock has a fifty day moving average price of $59.37 and a 200-day moving average price of $58.40.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.09. The business had revenue of $967.50 million during the quarter, compared to the consensus estimate of $909.49 million. Boyd Gaming had a net margin of 13.32% and a return on equity of 34.29%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.58 earnings per share. Equities research analysts anticipate that Boyd Gaming Co. will post 6.25 EPS for the current year.

Boyd Gaming Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, September 13th. This represents a $0.68 annualized dividend and a yield of 1.06%. Boyd Gaming’s payout ratio is 12.21%.

Insider Buying and Selling at Boyd Gaming

In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of the company’s stock in a transaction 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $60.36, for a total value of $74,967.12. Following the completion of the transaction, the director now owns 1,096 shares in the company, valued at $66,154.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the company’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 disclosure for this sale can be found here. 27.94% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BYD has been the topic of a number of recent research reports. Bank of America raised their price objective on shares of Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. StockNews.com upgraded Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Macquarie lowered their price objective 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. Morgan Stanley upgraded Boyd Gaming from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $66.00 to $74.00 in a report on Wednesday, September 4th. Finally, Stifel Nicolaus upped their price target on Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Boyd Gaming has a consensus 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.