Boyd Gaming Corporation $BYD Stock Holdings Lessened by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC lowered its stake in shares of Boyd Gaming Corporation (NYSE:BYD) by 57.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 6,734 shares of the company’s stock after selling 9,129 shares during the period. Aaron Wealth Advisors LLC’s holdings in Boyd Gaming were worth $553,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BYD. Blue Trust Inc. lifted its position in shares of Boyd Gaming by 23.0% in the first quarter. Blue Trust Inc. now owns 653 shares of the company’s stock worth $54,000 after buying an additional 122 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of Boyd Gaming by 24.5% during the 4th quarter. TD Private Client Wealth LLC now owns 854 shares of the company’s stock worth $73,000 after buying an additional 168 shares during the period. Advisors Asset Management Inc. grew its stake in Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after buying an additional 196 shares during the last quarter. Interchange Capital Partners LLC raised its holdings in Boyd Gaming by 9.0% in the 4th quarter. Interchange Capital Partners LLC now owns 2,996 shares of the company’s stock worth $255,000 after acquiring an additional 247 shares during the period. Finally, Altshuler Shaham Ltd acquired a new position in Boyd Gaming during the 4th quarter worth $25,000. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, CEO Keith Smith sold 100,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $85.90, for a total value of $8,590,000.00. Following the completion of the transaction, the chief executive officer directly owned 996,981 shares of the company’s stock, valued at approximately $85,640,667.90. The trade was a 9.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 62,914 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $84.03, for a total transaction of $5,286,663.42. Following the completion of the sale, the chairman directly owned 1,609,808 shares of the company’s stock, valued at approximately $135,272,166.24. This represents a 3.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 200,000 shares of company stock worth $17,038,987. Insiders own 22.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Stifel Nicolaus cut their price target on Boyd Gaming from $95.00 to $91.00 and set a “hold” rating for the company in a report on Friday, April 24th. Susquehanna reduced their price target on shares of Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Wells Fargo & Company dropped their price objective on shares of Boyd Gaming from $84.00 to $83.00 and set an “equal weight” rating on the stock in a report on Thursday, April 16th. Texas Capital upgraded shares of Boyd Gaming to a “strong-buy” rating in a research note on Wednesday, June 3rd. Finally, The Goldman Sachs Group started coverage on Boyd Gaming in a report on Friday. They issued a “neutral” rating and a $91.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $92.57.

Boyd Gaming Price Performance

Shares of Boyd Gaming stock opened at $89.82 on Monday. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 3.94, a P/E/G ratio of 2.09 and a beta of 1.08. The firm’s 50-day moving average price is $84.77 and its two-hundred day moving average price is $84.51. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. Boyd Gaming Corporation has a 1-year low of $76.33 and a 1-year high of $90.13.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, April 23rd. The company reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.16). Boyd Gaming had a return on equity of 25.63% and a net margin of 44.84%.The business had revenue of $997.36 million for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the company earned $1.62 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. On average, equities analysts predict that Boyd Gaming Corporation will post 7.32 earnings per share for the current fiscal year.

Boyd Gaming announced that its board has authorized a share buyback program on Thursday, April 23rd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 7.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Boyd Gaming Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 15th. This represents a $0.80 annualized dividend and a yield of 0.9%. Boyd Gaming’s dividend payout ratio is 3.51%.

Boyd Gaming Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.