Amalgamated Bank Reduces Stock Position in Boyd Gaming Co. (NYSE:BYD)

Amalgamated Bank trimmed its holdings in shares of Boyd Gaming Co. (NYSE:BYD) by 22.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 32,827 shares of the company’s stock after selling 9,719 shares during the quarter. Amalgamated Bank’s holdings in Boyd Gaming were worth $2,122,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BYD. Allspring Global Investments Holdings LLC increased its position in shares of Boyd Gaming by 57.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after purchasing an additional 189 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in Boyd Gaming during the second quarter worth $29,000. Blue Trust Inc. increased its position in Boyd Gaming by 58.2% during the second quarter. Blue Trust Inc. now owns 783 shares of the company’s stock valued at $43,000 after acquiring an additional 288 shares during the last quarter. Farther Finance Advisors LLC increased its position in Boyd Gaming by 921.8% during the third quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock valued at $57,000 after acquiring an additional 802 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Boyd Gaming in the first quarter valued at $90,000. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Stock Performance

NYSE BYD opened at $74.12 on Tuesday. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. The stock’s 50 day simple moving average is $64.95 and its 200-day simple moving average is $58.91. The company has a market cap of $6.55 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 9.61 and a beta of 1.55. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $74.78.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Sunday, September 15th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Friday, September 13th. Boyd Gaming’s dividend payout ratio (DPR) is 12.98%.

Insider Activity at Boyd Gaming

In other news, Director William R. Boyd sold 25,155 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $69.35, for a total transaction of $1,744,499.25. Following the transaction, the director now owns 1,487,970 shares of the company’s stock, valued at approximately $103,190,719.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director William R. Boyd sold 25,155 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $69.35, for a total value of $1,744,499.25. Following the transaction, the director now directly owns 1,487,970 shares in the company, valued at approximately $103,190,719.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $60.36, for a total value of $74,967.12. Following the completion of the transaction, the director now directly owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,076 shares of company stock valued at $7,763,331. 27.94% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Stifel Nicolaus lifted 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 decreased their price target on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Barclays raised their price objective on Boyd Gaming from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Finally, StockNews.com upgraded shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $91.38.

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.