Burney Co. Sells 6,139 Shares of Boyd Gaming Corporation $BYD

Burney Co. decreased its position in shares of Boyd Gaming Corporation (NYSE:BYD) by 28.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,137 shares of the company’s stock after selling 6,139 shares during the period. Burney Co.’s holdings in Boyd Gaming were worth $1,244,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new position in Boyd Gaming in the 4th quarter valued at $25,000. Los Angeles Capital Management LLC bought a new stake in shares of Boyd Gaming during the fourth quarter worth $25,000. Advisors Asset Management Inc. grew its holdings in shares of Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after purchasing an additional 196 shares during the last quarter. First Horizon Corp acquired a new stake in shares of Boyd Gaming in the fourth quarter valued at $41,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Boyd Gaming by 139.9% in the second quarter. Geneos Wealth Management Inc. now owns 619 shares of the company’s stock valued at $48,000 after buying an additional 361 shares in the last quarter. Institutional investors own 76.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Boyd Gaming from $89.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Texas Capital upgraded shares of Boyd Gaming to a “strong-buy” rating in a research report on Wednesday, June 3rd. Mizuho dropped their target price on shares of Boyd Gaming from $99.00 to $96.00 and set an “outperform” rating for the company in a research note on Friday, April 24th. Stifel Nicolaus dropped their target price on shares of Boyd Gaming from $95.00 to $91.00 and set a “hold” rating for the company in a research note on Friday, April 24th. Finally, Morgan Stanley reiterated a “mixed” rating on shares of Boyd Gaming in a research report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $93.15.

Boyd Gaming Trading Down 1.8%

Shares of BYD opened at $87.05 on Thursday. The stock’s fifty day simple moving average is $84.98 and its 200-day simple moving average is $84.74. The firm has a market capitalization of $6.47 billion, a PE ratio of 3.82, a price-to-earnings-growth ratio of 2.07 and a beta of 1.07. Boyd Gaming Corporation has a 12-month low of $76.33 and a 12-month high of $91.00. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.90.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.16). The firm had revenue of $997.36 million during the quarter, compared to analyst estimates of $1.04 billion. Boyd Gaming had a return on equity of 25.63% and a net margin of 44.84%.Boyd Gaming’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.62 earnings per share. As a group, research analysts predict that Boyd Gaming Corporation will post 7.32 earnings per share for the current year.

Boyd Gaming Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders 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 dividend yield of 0.9%. Boyd Gaming’s payout ratio is currently 3.51%.

Boyd Gaming announced that its board has approved a share repurchase plan on Thursday, April 23rd that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 7.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 62,914 shares of Boyd Gaming stock in a transaction 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 owned 1,609,808 shares of the company’s stock, valued at approximately $135,272,166.24. The trade was a 3.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Keith Smith sold 100,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $85.90, for a total transaction of $8,590,000.00. Following the sale, the chief executive officer owned 996,981 shares of the company’s stock, valued at $85,640,667.90. The trade was a 9.12% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 200,000 shares of company stock valued at $17,038,987. 22.82% of the stock is owned by corporate insiders.

About Boyd Gaming

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.