Cibc World Markets Corp Sells 51,500 Shares of Boyd Gaming Co. (NYSE:BYD)

Cibc World Markets Corp decreased its holdings in shares of Boyd Gaming Co. (NYSE:BYD – Get Rating) by 88.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,500 shares of the company’s stock after selling 51,500 shares during the period. Cibc World Markets Corp’s holdings in Boyd Gaming were worth $354,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BYD. Ariel Investments LLC increased its holdings in shares of Boyd Gaming by 63.4% during the first quarter. Ariel Investments LLC now owns 2,629,438 shares of the company’s stock worth $172,965,000 after buying an additional 1,020,515 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Boyd Gaming by 45.2% during the first quarter. Invesco Ltd. now owns 2,382,418 shares of the company’s stock worth $156,715,000 after buying an additional 741,156 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Boyd Gaming by 7.2% during the third quarter. BlackRock Inc. now owns 7,566,954 shares of the company’s stock worth $360,566,000 after buying an additional 510,134 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Boyd Gaming during the fourth quarter worth approximately $22,889,000. Finally, Vanguard Group Inc. increased its holdings in shares of Boyd Gaming by 4.1% during the first quarter. Vanguard Group Inc. now owns 9,030,684 shares of the company’s stock worth $594,039,000 after buying an additional 359,698 shares in the last quarter. Institutional investors own 68.68% of the company’s stock.

Boyd Gaming Trading Down 1.2 %

Shares of NYSE BYD opened at $66.79 on Monday. The company’s fifty day moving average is $65.19 and its 200-day moving average is $61.98. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 10.52, a P/E/G ratio of 1.57 and a beta of 1.78. Boyd Gaming Co. has a twelve month low of $46.10 and a twelve month high of $71.69. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 1.76.

Boyd Gaming (NYSE:BYD – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.20. The company had revenue of $963.97 million for the quarter, compared to analysts’ expectations of $889.59 million. Boyd Gaming had a net margin of 18.48% and a return on equity of 43.15%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the firm posted $1.40 earnings per share. Equities research analysts predict that Boyd Gaming Co. will post 6.31 EPS for the current year.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Thursday, June 15th will be given a $0.16 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $0.64 annualized dividend and a yield of 0.96%. Boyd Gaming’s dividend payout ratio is currently 10.08%.

Insider Activity at Boyd Gaming

In related news, insider William S. Boyd sold 39,525 shares of the business’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $64.52, for a total value of $2,550,153.00. Following the sale, the insider now directly owns 14,102,224 shares of the company’s stock, valued at approximately $909,875,492.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider William S. Boyd sold 39,525 shares of the business’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $64.52, for a total value of $2,550,153.00. Following the sale, the insider now directly owns 14,102,224 shares of the company’s stock, valued at approximately $909,875,492.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Keith Smith sold 25,000 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $64.05, for a total transaction of $1,601,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,297,562 shares in the company, valued at $83,108,846.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,901 shares of company stock valued at $6,019,395. 27.94% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Boyd Gaming from $73.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Barclays raised their price target on shares of Boyd Gaming from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, April 21st. Morgan Stanley raised their price objective on shares of Boyd Gaming from $60.00 to $62.00 and gave the company an “underweight” rating in a research note on Wednesday, March 1st. CBRE Group raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Friday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Boyd Gaming from $76.00 to $78.00 in a research note on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boyd Gaming currently has a consensus rating of “Moderate Buy” and an average target price of $75.29.

About Boyd Gaming

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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.