Quadrature Capital Ltd Has $252,000 Position in Boyd Gaming Co. (NYSE:BYD)

Quadrature Capital Ltd lessened its holdings in Boyd Gaming Co. (NYSE:BYD – Get Rating) by 90.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,284 shares of the company’s stock after selling 48,908 shares during the quarter. Quadrature Capital Ltd’s holdings in Boyd Gaming were worth $252,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Lazard Asset Management LLC boosted its position in Boyd Gaming by 1,588.2% during the 2nd quarter. Lazard Asset Management LLC now owns 574 shares of the company’s stock worth $28,000 after acquiring an additional 540 shares during the period. Allworth Financial LP increased its stake in Boyd Gaming by 20,983.3% in the 3rd quarter. Allworth Financial LP now owns 1,265 shares of the company’s stock valued at $60,000 after buying an additional 1,259 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in Boyd Gaming in the 3rd quarter worth approximately $72,000. Neo Ivy Capital Management acquired a new stake in shares of Boyd Gaming during the 2nd quarter valued at $122,000. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Boyd Gaming by 153.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,432 shares of the company’s stock valued at $162,000 after acquiring an additional 2,080 shares in the last quarter. Hedge funds and other institutional investors own 68.68% of the company’s stock.

Boyd Gaming Stock Down 3.6 %

BYD stock opened at $58.92 on Tuesday. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.82 and a quick ratio of 0.78. Boyd Gaming Co. has a 52-week low of $46.10 and a 52-week high of $70.46. The company has a 50-day moving average of $62.11 and a two-hundred day moving average of $57.65. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of 10.04, a price-to-earnings-growth ratio of 1.09 and a beta of 1.80.

Boyd Gaming (NYSE:BYD – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.27. Boyd Gaming had a net margin of 17.98% and a return on equity of 42.63%. The company had revenue of $922.90 million during the quarter, compared to analysts’ expectations of $880.30 million. During the same period in the prior year, the company earned $1.35 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Boyd Gaming Co. will post 5.87 EPS for the current year.

Boyd Gaming Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, April 15th. Shareholders of record on Wednesday, March 15th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.09%. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, March 14th. Boyd Gaming’s dividend payout ratio is 10.22%.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, insider William S. Boyd sold 190,000 shares of the company’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $58.90, for a total transaction of $11,191,000.00. Following the completion of the sale, the insider now directly owns 14,543,927 shares in the company, valued at $856,637,300.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Stephen S. Thompson sold 28,376 shares of the stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $65.83, for a total value of $1,867,992.08. Following the completion of the sale, the executive vice president now owns 38,938 shares in the company, valued at $2,563,288.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William S. Boyd sold 190,000 shares of the stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $58.90, for a total transaction of $11,191,000.00. Following the completion of the sale, the insider now owns 14,543,927 shares of the company’s stock, valued at approximately $856,637,300.30. The disclosure for this sale can be found here. Insiders sold 673,636 shares of company stock worth $42,952,945 over the last ninety days. Company insiders own 28.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BYD shares. Credit Suisse Group dropped their price target on shares of Boyd Gaming from $82.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, February 3rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Boyd Gaming from $66.00 to $72.00 in a research note on Friday, February 3rd. CBRE Group raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Friday, February 3rd. Roth Capital started coverage on shares of Boyd Gaming in a research note on Wednesday, January 18th. They issued a “buy” rating and a $70.00 price target on the stock. Finally, Susquehanna upped their price target on shares of Boyd Gaming from $72.00 to $80.00 and gave the stock a “positive” rating in a research note on Thursday, February 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $73.87.

Boyd Gaming Company Profile

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Boyd Gaming Corp. is a multi-jurisdictional gaming company, which engages in the management and operation of gaming and entertainment properties. It operates through the following segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South. The Las Vegas Locals segment consists of eight casinos that primarily serve the resident population in the Las Vegas metropolitan area.