Cornercap Investment Counsel Inc. Decreases Holdings in Boyd Gaming Co. (NYSE:BYD)

Cornercap Investment Counsel Inc. decreased its stake in Boyd Gaming Co. (NYSE:BYD) by 47.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,126 shares of the company’s stock after selling 8,307 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Boyd Gaming were worth $590,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Altshuler Shaham Ltd acquired a new stake in Boyd Gaming in the 2nd quarter worth about $29,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Boyd Gaming by 57.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock worth $35,000 after acquiring an additional 189 shares during the last quarter. Covestor Ltd boosted its stake in shares of Boyd Gaming by 54.9% in the third quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after acquiring an additional 208 shares during the last quarter. Blue Trust Inc. increased its position in shares of Boyd Gaming by 58.2% during the second quarter. Blue Trust Inc. now owns 783 shares of the company’s stock worth $43,000 after purchasing an additional 288 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Boyd Gaming by 921.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock valued at $57,000 after purchasing an additional 802 shares during the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Keith Smith sold 40,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $73.49, for a total transaction of $2,939,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,161,202 shares of the company’s stock, valued at approximately $85,336,734.98. The trade was a 3.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Christine J. Spadafor sold 1,242 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $60.36, for a total transaction of $74,967.12. Following the completion of the sale, the director now owns 1,096 shares in the company, valued at $66,154.56. The trade was a 53.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 161,076 shares of company stock worth $10,702,931 over the last three months. Company insiders own 27.94% of the company’s stock.

Wall Street Analyst Weigh In

BYD has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Stifel Nicolaus increased their price objective on shares of Boyd Gaming from $67.00 to $74.00 and gave the company a “hold” rating in a report on Friday, October 25th. Macquarie lowered their target price on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. StockNews.com raised Boyd Gaming from a “buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company boosted their price objective on Boyd Gaming from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Seven 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.38.

Boyd Gaming Stock Down 0.8 %

Boyd Gaming stock opened at $72.43 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The firm has a 50 day moving average price of $65.99 and a 200 day moving average price of $59.39. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $74.78. The company has a market capitalization of $6.40 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 9.60 and a beta of 1.55.

Boyd Gaming Dividend Announcement

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

Boyd Gaming Profile

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.