Boyd Gaming Co. (NYSE:BYD) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its holdings in Boyd Gaming Co. (NYSE:BYD) by 47.7% during the third quarter, HoldingsChannel.com reports. The fund owned 9,126 shares of the company’s stock after selling 8,307 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Boyd Gaming were worth $590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Victory Capital Management Inc. grew its position in Boyd Gaming by 6,158.8% in the 3rd quarter. Victory Capital Management Inc. now owns 908,905 shares of the company’s stock valued at $58,761,000 after buying an additional 894,383 shares during the last quarter. Long Pond Capital LP acquired a new position in shares of Boyd Gaming during the second quarter worth about $20,440,000. Ariel Investments LLC raised its holdings in Boyd Gaming by 12.5% during the second quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock worth $167,046,000 after purchasing an additional 335,984 shares in the last quarter. Boston Partners lifted its position in Boyd Gaming by 10.0% in the first quarter. Boston Partners now owns 3,031,091 shares of the company’s stock valued at $203,276,000 after purchasing an additional 274,876 shares during the period. Finally, Beck Bode LLC acquired a new stake in Boyd Gaming in the first quarter valued at about $15,985,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Boyd Gaming news, CFO Josh Hirsberg sold 21,549 shares of Boyd Gaming stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $71.43, for a total value of $1,539,245.07. Following the completion of the transaction, the chief financial officer now directly owns 438,615 shares in the company, valued at $31,330,269.45. The trade was a 4.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Keith Smith sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $73.49, for a total value of $2,939,600.00. Following the completion of the sale, the chief executive officer now directly owns 1,161,202 shares in the company, valued at approximately $85,336,734.98. This trade represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 161,076 shares of company stock valued at $10,702,931 in the last ninety days. Corporate insiders own 27.94% of the company’s stock.

Boyd Gaming Price Performance

BYD stock opened at $72.43 on Friday. The stock’s 50 day moving average is $65.99 and its two-hundred day moving average is $59.39. Boyd Gaming Co. has a 52-week low of $49.34 and a 52-week high of $74.78. The company has a market capitalization of $6.40 billion, a PE ratio of 13.82, a P/E/G ratio of 9.60 and a beta of 1.55. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85.

Boyd Gaming Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Sunday, September 15th were paid a dividend of $0.17 per share. The ex-dividend date was Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a yield of 0.94%. Boyd Gaming’s dividend payout ratio (DPR) is 12.98%.

Analyst Ratings Changes

BYD has been the subject of several recent analyst reports. Wells Fargo & Company raised their price target on Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Bank of America increased their price target on shares of Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Macquarie lowered their target price on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. JPMorgan Chase & Co. lifted their price target on shares of Boyd Gaming from $68.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, Barclays raised their price objective on Boyd Gaming from $70.00 to $71.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boyd Gaming currently has an average rating of “Moderate Buy” and an average price target of $91.38.

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.