Mutual of America Capital Management LLC Reduces Stock Holdings in Boyd Gaming Co. (NYSE:BYD)

Mutual of America Capital Management LLC cut its holdings in shares of Boyd Gaming Co. (NYSE:BYD) by 7.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,110 shares of the company’s stock after selling 3,204 shares during the period. Mutual of America Capital Management LLC’s holdings in Boyd Gaming were worth $2,637,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BYD. Parkside Financial Bank & Trust grew its position in shares of Boyd Gaming by 105.5% during the third quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock worth $25,000 after acquiring an additional 211 shares during the last quarter. Belpointe Asset Management LLC grew its position in shares of Boyd Gaming by 237.6% during the first quarter. Belpointe Asset Management LLC now owns 655 shares of the company’s stock worth $42,000 after acquiring an additional 461 shares during the last quarter. Quarry LP grew its position in shares of Boyd Gaming by 130.3% during the first quarter. Quarry LP now owns 822 shares of the company’s stock worth $53,000 after acquiring an additional 465 shares during the last quarter. Allworth Financial LP grew its position in shares of Boyd Gaming by 3,333.3% during the fourth quarter. Allworth Financial LP now owns 1,030 shares of the company’s stock worth $64,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of Boyd Gaming during the first quarter worth approximately $86,000. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BYD has been the topic of a number of research reports. Susquehanna restated a “neutral” rating and set a $75.00 target price (down from $84.00) on shares of Boyd Gaming in a research report on Monday, February 12th. Morgan Stanley increased their price target on Boyd Gaming from $71.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. increased their price target on Boyd Gaming from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Barclays increased their price target on Boyd Gaming from $66.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $69.00 price target on shares of Boyd Gaming in a report on Friday, January 5th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.30.

Insider Transactions at Boyd Gaming

In other news, major shareholder William S. Boyd sold 63,464 shares of Boyd Gaming stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the completion of the transaction, the insider now owns 8,795,449 shares of the company’s stock, valued at approximately $555,168,740.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director A. Randall Thoman sold 2,500 shares of Boyd Gaming stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total transaction of $159,375.00. Following the completion of the sale, the director now owns 4,017 shares in the company, valued at approximately $256,083.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder William S. Boyd sold 63,464 shares of Boyd Gaming stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total value of $4,005,847.68. Following the sale, the insider now owns 8,795,449 shares of the company’s stock, valued at approximately $555,168,740.88. The disclosure for this sale can be found here. Insiders sold 582,910 shares of company stock valued at $37,299,461 in the last 90 days. 27.94% of the stock is currently owned by insiders.

Boyd Gaming Price Performance

Boyd Gaming stock opened at $62.92 on Friday. Boyd Gaming Co. has a one year low of $52.42 and a one year high of $73.00. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 0.89. The business has a fifty day moving average of $64.42 and a two-hundred day moving average of $61.91. The company has a market cap of $6.02 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 3.03 and a beta of 1.60.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, February 8th. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. Boyd Gaming had a return on equity of 36.97% and a net margin of 16.58%. The company had revenue of $954.41 million during the quarter, compared to the consensus estimate of $928.04 million. During the same quarter last year, the company earned $1.72 earnings per share. Boyd Gaming’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, analysts predict that Boyd Gaming Co. will post 6.18 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Thursday, March 14th. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.16. Boyd Gaming’s payout ratio is 11.15%.

About Boyd Gaming

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.