Mesirow Financial Investment Management Equity Management reduced its holdings in shares of Boyd Gaming Corporation (NYSE:BYD) by 27.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 668,715 shares of the company’s stock after selling 252,560 shares during the period. Mesirow Financial Investment Management Equity Management owned approximately 0.59% of Boyd Gaming Corporation worth $17,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Fortaleza Asset Management Inc. increased its holdings in shares of Boyd Gaming Corporation by 80.7% in the third quarter. Fortaleza Asset Management Inc. now owns 5,630 shares of the company’s stock valued at $147,000 after purchasing an additional 2,515 shares during the period. Seven Eight Capital LP acquired a new position in shares of Boyd Gaming Corporation in the second quarter valued at about $154,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Boyd Gaming Corporation in the first quarter valued at about $161,000. Zacks Investment Management acquired a new position in shares of Boyd Gaming Corporation in the second quarter valued at about $202,000. Finally, Shelton Capital Management acquired a new position in shares of Boyd Gaming Corporation in the second quarter valued at about $203,000. 74.92% of the stock is currently owned by institutional investors.

A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered Boyd Gaming Corporation from a “hold” rating to a “sell” rating in a report on Wednesday. Stifel Nicolaus raised their target price on Boyd Gaming Corporation from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Friday, October 27th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $27.00 target price on shares of Boyd Gaming Corporation in a report on Tuesday, October 24th. Morgan Stanley set a $28.00 target price on Boyd Gaming Corporation and gave the stock a “hold” rating in a report on Tuesday, October 24th. Finally, Telsey Advisory Group raised their target price on Boyd Gaming Corporation from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $27.47.

In related news, Director Robert L. Boughner sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $26.70, for a total value of $1,068,000.00. Following the sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $1,068,000. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP William R. Boyd sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $26.71, for a total value of $186,970.00. Following the completion of the sale, the vice president now directly owns 1,251 shares in the company, valued at approximately $33,414.21. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,000 shares of company stock worth $1,520,470. 29.16% of the stock is owned by corporate insiders.

Boyd Gaming Corporation (NYSE:BYD) last posted its earnings results on Thursday, October 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Boyd Gaming Corporation had a net margin of 5.08% and a return on equity of 14.01%. The company had revenue of $587.70 million during the quarter, compared to analysts’ expectations of $592.29 million. During the same period in the previous year, the company posted $0.14 EPS. Boyd Gaming Corporation’s quarterly revenue was up 10.5% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which was paid on Sunday, October 15th. Investors of record on Monday, September 18th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Friday, September 15th. Boyd Gaming Corporation’s payout ratio is currently 19.23%.

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Boyd Gaming Corporation Profile

Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.

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Institutional Ownership by Quarter for Boyd Gaming Corporation (NYSE:BYD)

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