Sequoia Financial Advisors LLC Increases Stock Position in Boyd Gaming Corporation $BYD

Sequoia Financial Advisors LLC raised its stake in Boyd Gaming Corporation (NYSE:BYD) by 11.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,572 shares of the company’s stock after acquiring an additional 7,688 shares during the period. Sequoia Financial Advisors LLC owned 0.11% of Boyd Gaming worth $6,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in BYD. Northwestern Mutual Wealth Management Co. grew its stake in Boyd Gaming by 1,466.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 32,965 shares of the company’s stock worth $2,810,000 after buying an additional 30,860 shares during the last quarter. III Capital Management acquired a new position in Boyd Gaming during the fourth quarter worth approximately $4,177,000. Jefferies Financial Group Inc. purchased a new stake in Boyd Gaming in the fourth quarter valued at approximately $15,551,000. BlackRock Inc. purchased a new stake in Boyd Gaming in the second quarter valued at approximately $486,737,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Boyd Gaming in the fourth quarter valued at approximately $1,922,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on BYD shares. Morgan Stanley lowered their target price on Boyd Gaming from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Monday, July 27th. Weiss Ratings downgraded Boyd Gaming from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Barclays lifted their price objective on shares of Boyd Gaming from $86.00 to $87.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. Wolfe Research initiated coverage on shares of Boyd Gaming in a research note on Wednesday, September 2nd. They issued a “peer perform” rating on the stock. Finally, Stifel Nicolaus upped their price objective on shares of Boyd Gaming from $91.00 to $92.00 and gave the stock a “hold” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $94.69.

Boyd Gaming Price Performance

Boyd Gaming stock opened at $77.14 on Friday. Boyd Gaming Corporation has a one year low of $74.79 and a one year high of $91.41. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.74 and a current ratio of 0.77. The business has a fifty day moving average of $83.47 and a two-hundred day moving average of $84.02. The company has a market cap of $5.60 billion, a P/E ratio of 3.40, a price-to-earnings-growth ratio of 1.36 and a beta of 1.06.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, July 23rd. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.89 by $0.04. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.52%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.87 EPS. As a group, analysts predict that Boyd Gaming Corporation will post 7.29 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Boyd Gaming’s payout ratio is currently 3.52%.

Insider Buying and Selling

In other Boyd Gaming news, CFO Josh Hirsberg sold 12,777 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $89.76, for a total transaction of $1,146,863.52. Following the transaction, the chief financial officer directly owned 422,969 shares in the company, valued at approximately $37,965,697.44. This represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 22.82% of the company’s stock.

Boyd Gaming Profile

Boyd Gaming Corporation is a gaming and hospitality company that owns and operates casinos, hotels, restaurants, entertainment venues and related amenities. Its properties offer casino games such as slots, table games and poker, along with lodging, dining, convention and entertainment services.

Founded in 1975 by gaming executive Sam Boyd, the company is headquartered in Las Vegas, Nevada. Boyd Gaming operates regional gaming properties across several U.S. states, including Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Ohio and Pennsylvania.