Quantinno Capital Management LP Boosts Stock Holdings in Boyd Gaming Corporation $BYD

Quantinno Capital Management LP lifted its position in Boyd Gaming Corporation (NYSE:BYD) by 18.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 925,070 shares of the company’s stock after purchasing an additional 142,468 shares during the period. Quantinno Capital Management LP’s holdings in Boyd Gaming were worth $76,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the company. Altshuler Shaham Ltd purchased a new stake in shares of Boyd Gaming during the 4th quarter worth about $25,000. Los Angeles Capital Management LLC purchased a new position in shares of Boyd Gaming in the 4th quarter valued at about $25,000. Advisors Asset Management Inc. increased its stake in shares of Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after purchasing an additional 196 shares in the last quarter. First Horizon Corp acquired a new position in Boyd Gaming in the 4th quarter worth about $41,000. Finally, Bessemer Group Inc. raised its holdings in Boyd Gaming by 62.8% in the 1st quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock worth $43,000 after purchasing an additional 203 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BYD shares. Stifel Nicolaus increased their price target on Boyd Gaming from $91.00 to $92.00 and gave the stock a “hold” rating in a research report on Friday. The Goldman Sachs Group assumed coverage on Boyd Gaming in a research report on Friday, June 26th. They issued a “neutral” rating and a $91.00 price objective for the company. Wells Fargo & Company increased their target price on Boyd Gaming from $81.00 to $88.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 14th. Texas Capital upgraded Boyd Gaming to a “strong-buy” rating in a research report on Wednesday, June 3rd. Finally, Barclays lifted their price target on shares of Boyd Gaming from $86.00 to $87.00 and gave the company an “equal weight” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $94.69.

Boyd Gaming Stock Up 2.0%

BYD opened at $91.10 on Wednesday. The company has a market cap of $6.77 billion, a PE ratio of 4.01, a price-to-earnings-growth ratio of 2.19 and a beta of 1.07. Boyd Gaming Corporation has a twelve month low of $76.33 and a twelve month high of $91.41. The company has a 50-day moving average price of $86.29 and a 200 day moving average price of $84.89. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.90.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.04. Boyd Gaming had a return on equity of 22.29% and a net margin of 44.34%.The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the firm posted $1.87 EPS. Boyd Gaming’s revenue was up .0% compared to the same quarter last year. Sell-side analysts expect that Boyd Gaming Corporation will post 7.28 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, June 15th. Boyd Gaming’s dividend payout ratio (DPR) is 3.52%.

Boyd Gaming announced that its board has initiated a share buyback program on Thursday, April 23rd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 7.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, CEO Keith Smith sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $85.90, for a total transaction of $8,590,000.00. Following the completion of the sale, the chief executive officer directly owned 996,981 shares in the company, valued at approximately $85,640,667.90. The trade was a 9.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Josh Hirsberg sold 12,777 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $89.76, for a total value of $1,146,863.52. Following the completion of the transaction, the chief financial officer directly owned 422,969 shares of the company’s stock, valued at approximately $37,965,697.44. This represents a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 212,777 shares of company stock worth $18,185,850 over the last quarter. 22.82% of the stock is currently owned by corporate insiders.

Boyd Gaming Company Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.