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

Channing Capital Management LLC grew its stake in shares of Boyd Gaming Co. (NYSE:BYD) by 26.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 833,239 shares of the company’s stock after acquiring an additional 172,427 shares during the period. Channing Capital Management LLC’s holdings in Boyd Gaming were worth $52,169,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BYD. Raymond James & Associates boosted its holdings in Boyd Gaming by 17.6% in the third quarter. Raymond James & Associates now owns 115,605 shares of the company’s stock worth $7,032,000 after purchasing an additional 17,321 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in Boyd Gaming in the third quarter worth $1,898,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Boyd Gaming by 13.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,073 shares of the company’s stock worth $917,000 after acquiring an additional 1,795 shares during the period. Strs Ohio increased its stake in shares of Boyd Gaming by 2.4% in the third quarter. Strs Ohio now owns 150,101 shares of the company’s stock valued at $9,130,000 after purchasing an additional 3,480 shares during the period. Finally, Advisor Partners II LLC raised its stake in Boyd Gaming by 16.3% during the 3rd quarter. Advisor Partners II LLC now owns 3,889 shares of the company’s stock valued at $237,000 after acquiring an additional 546 shares in the last quarter. Institutional investors own 76.81% of the company’s stock.

Insider Buying and Selling at Boyd Gaming

In other news, Chairman Marianne Boyd Johnson sold 77,661 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $64.87, for a total value of $5,037,869.07. Following the completion of the sale, the chairman now owns 1,511,433 shares of the company’s stock, valued at $98,046,658.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Ted Bogich sold 41,631 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.79, for a total value of $2,697,272.49. Following the transaction, the chief operating officer now owns 66,803 shares in the company, valued at approximately $4,328,166.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Marianne Boyd Johnson sold 77,661 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $64.87, for a total transaction of $5,037,869.07. Following the completion of the sale, the chairman now directly owns 1,511,433 shares of the company’s stock, valued at $98,046,658.71. The disclosure for this sale can be found here. Insiders have sold a total of 582,910 shares of company stock valued at $37,299,461 in the last three months. 27.94% of the stock is currently owned by company insiders.

Boyd Gaming Price Performance

Shares of NYSE BYD traded down $0.04 during mid-day trading on Friday, reaching $54.12. The company had a trading volume of 973,128 shares, compared to its average volume of 1,189,039. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. Boyd Gaming Co. has a 1-year low of $52.42 and a 1-year high of $73.00. The stock has a market cap 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 50-day moving average price of $63.04 and a two-hundred day moving average price of $61.81.

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

Boyd Gaming Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Morgan Stanley upped their price objective on shares of Boyd Gaming from $71.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Wells Fargo & Company dropped their target price on Boyd Gaming from $82.00 to $71.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Stifel Nicolaus decreased their price target on Boyd Gaming from $71.00 to $65.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Mizuho lowered their price target 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. Finally, Deutsche Bank Aktiengesellschaft lowered Boyd Gaming from a “buy” rating to a “hold” rating and cut their price objective for the company from $78.00 to $71.00 in a report on Friday, April 26th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $72.20.

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.