Seven Six Capital Management LLC Purchases 6,700 Shares of Boyd Gaming Corporation $BYD

Seven Six Capital Management LLC raised its position in shares of Boyd Gaming Corporation (NYSE:BYD) by 5.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 125,875 shares of the company’s stock after buying an additional 6,700 shares during the period. Boyd Gaming makes up about 10.9% of Seven Six Capital Management LLC’s portfolio, making the stock its biggest holding. Seven Six Capital Management LLC’s holdings in Boyd Gaming were worth $10,344,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Invesco Ltd. lifted its stake in Boyd Gaming by 118.2% during the 4th quarter. Invesco Ltd. now owns 1,427,828 shares of the company’s stock worth $121,708,000 after acquiring an additional 773,394 shares in the last quarter. Norges Bank purchased a new stake in Boyd Gaming during the fourth quarter worth about $58,763,000. UBS Group AG lifted its position in shares of Boyd Gaming by 196.9% during the fourth quarter. UBS Group AG now owns 611,207 shares of the company’s stock worth $52,099,000 after purchasing an additional 405,340 shares in the last quarter. Arbejdsmarkedets Tillaegspension acquired a new stake in shares of Boyd Gaming during the fourth quarter worth about $24,675,000. Finally, Geode Capital Management LLC boosted its stake in shares of Boyd Gaming by 26.7% in the fourth quarter. Geode Capital Management LLC now owns 1,355,209 shares of the company’s stock valued at $115,537,000 after purchasing an additional 285,719 shares during the period. 76.81% of the stock is owned by institutional investors and hedge funds.

Boyd Gaming Stock Down 0.5%

Shares of Boyd Gaming stock opened at $90.78 on Thursday. 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 Corporation has a 52-week low of $76.33 and a 52-week high of $91.41. The company has a market capitalization of $6.75 billion, a P/E ratio of 4.00, a P/E/G ratio of 2.23 and a beta of 1.07. The company has a 50 day moving average of $86.52 and a 200 day moving average of $84.90.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.04. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.29%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the firm posted $1.87 EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. As a group, research analysts forecast that Boyd Gaming Corporation will post 7.29 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

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

Boyd Gaming declared that its Board of Directors has initiated a stock repurchase plan on Thursday, April 23rd that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 7.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Benchmark started coverage on shares of Boyd Gaming in a report on Monday, June 22nd. They set a “buy” rating and a $100.00 target price on the stock. Weiss Ratings upgraded shares of Boyd Gaming from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 4th. Morgan Stanley reduced their price objective on Boyd Gaming from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Monday. Mizuho set a $104.00 target price on Boyd Gaming in a report on Friday, July 24th. Finally, Citigroup boosted their target price on Boyd Gaming from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $94.69.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, CFO Josh Hirsberg sold 12,777 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total value of $1,146,863.52. Following the sale, the chief financial officer directly owned 422,969 shares in the company, valued at $37,965,697.44. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Marianne Boyd Johnson sold 62,914 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $84.03, for a total value of $5,286,663.42. Following the transaction, the chairman directly owned 1,609,808 shares of the company’s stock, valued at approximately $135,272,166.24. This represents a 3.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 212,777 shares of company stock valued at $18,185,850 over the last quarter. 22.82% of the stock is owned by insiders.

About Boyd Gaming

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.