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

Sequoia Financial Advisors LLC cut its holdings in shares of Boyd Gaming Corporation (NYSE:BYD) by 14.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,884 shares of the company’s stock after selling 11,839 shares during the period. Sequoia Financial Advisors LLC owned about 0.09% of Boyd Gaming worth $5,743,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BYD. Capitolis Liquid Global Markets LLC bought a new stake in shares of Boyd Gaming in the 3rd quarter worth about $13,313,000. Northwestern Mutual Wealth Management Co. lifted its holdings 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. Jefferies Financial Group Inc. acquired a new position in shares of Boyd Gaming in the 4th quarter worth approximately $15,551,000. Clark Capital Management Group Inc. acquired a new position in shares of Boyd Gaming in the 3rd quarter worth approximately $50,295,000. Finally, Brevan Howard Capital Management LP increased its holdings in shares of Boyd Gaming by 47.9% in the 3rd quarter. Brevan Howard Capital Management LP now owns 41,034 shares of the company’s stock valued at $3,547,000 after acquiring an additional 13,287 shares during the last quarter. Institutional investors own 76.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BYD shares. Morgan Stanley reissued a “mixed” rating on shares of Boyd Gaming in a research report on Wednesday, April 8th. Mizuho decreased their price objective on shares of Boyd Gaming from $99.00 to $96.00 and set an “outperform” rating for the company in a report on Friday, April 24th. Citigroup boosted their target price on shares of Boyd Gaming from $86.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Weiss Ratings raised shares of Boyd Gaming from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 4th. Finally, Wells Fargo & Company reduced their price target on shares of Boyd Gaming from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $93.15.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, CEO Keith Smith sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $85.90, for a total value of $8,590,000.00. Following the sale, the chief executive officer owned 996,981 shares in the company, valued at approximately $85,640,667.90. This trade represents 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 this link. Also, Chairman Marianne Boyd Johnson sold 62,914 shares of Boyd Gaming stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $84.03, for a total value of $5,286,663.42. Following the sale, the chairman directly owned 1,609,808 shares in the company, valued at approximately $135,272,166.24. This trade represents a 3.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 200,000 shares of company stock worth $17,038,987 in the last 90 days. 22.82% of the stock is owned by company insiders.

Boyd Gaming Stock Performance

BYD stock opened at $86.09 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.60. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 3.77, a PEG ratio of 2.01 and a beta of 1.07. Boyd Gaming Corporation has a 1 year low of $76.33 and a 1 year high of $91.00. The stock’s fifty day moving average is $84.98 and its two-hundred day moving average is $84.75.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, April 23rd. The company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.76 by ($0.16). Boyd Gaming had a return on equity of 25.63% and a net margin of 44.84%.The firm had revenue of $997.36 million for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company posted $1.62 EPS. The firm’s revenue was up .6% on a year-over-year basis. On average, research analysts predict that Boyd Gaming Corporation will post 7.32 EPS for the current year.

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be given a $0.20 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.80 annualized dividend and a yield of 0.9%. Boyd Gaming’s dividend payout ratio is 3.51%.

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

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.