Sequoia Financial Advisors LLC Boosts Position in Boyd Gaming Corporation $BYD

Sequoia Financial Advisors LLC raised its position in Boyd Gaming Corporation (NYSE:BYD) by 11.0% during the 2nd quarter, Holdings Channel reports. The firm owned 77,572 shares of the company’s stock after acquiring an additional 7,688 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Boyd Gaming were worth $6,852,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Altshuler Shaham Ltd acquired a new position in shares of Boyd Gaming during the 4th quarter worth $25,000. Los Angeles Capital Management LLC acquired a new stake in Boyd Gaming in the 4th quarter valued at about $25,000. Bessemer Group Inc. grew its stake in Boyd Gaming by 62.8% in the 1st quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock valued at $43,000 after acquiring an additional 203 shares during the last quarter. Advisors Asset Management Inc. grew its stake in 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 acquiring an additional 196 shares during the last quarter. Finally, Employees Retirement System of Texas purchased a new position in Boyd Gaming during the 3rd quarter valued at about $53,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Analyst Upgrades and Downgrades

BYD has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on shares of Boyd Gaming from $90.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Barclays increased 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 report on Friday, July 24th. Stifel Nicolaus raised their price objective on shares of Boyd Gaming from $91.00 to $92.00 and gave the stock a “hold” rating in a research note on Friday, July 24th. Texas Capital upgraded Boyd Gaming to a “strong-buy” rating in a research report on Wednesday, June 3rd. Finally, Morgan Stanley reduced 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. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, Boyd Gaming presently has a consensus rating of “Hold” and a consensus price target of $94.69.

Boyd Gaming Stock Up 0.9%

BYD opened at $77.14 on Friday. The firm has a market cap of $5.60 billion, a P/E ratio of 3.40, a PEG ratio of 1.36 and a beta of 1.06. The business’s fifty day simple moving average is $83.47 and its 200 day simple moving average is $84.02. Boyd Gaming Corporation has a 52 week low of $74.79 and a 52 week high of $91.41. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 1.05.

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

Boyd Gaming Announces Dividend

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

Insider Buying and Selling at Boyd Gaming

In other news, CFO Josh Hirsberg sold 12,777 shares of the business’s stock in a transaction that occurred 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 owned 422,969 shares of the company’s stock, valued at $37,965,697.44. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 22.82% of the stock is currently owned by corporate insiders.

About Boyd Gaming

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.