Sei Investments Co. Boosts Stock Position in Boyd Gaming Corporation $BYD

Sei Investments Co. raised its holdings in Boyd Gaming Corporation (NYSE:BYD) by 33.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 199,749 shares of the company’s stock after acquiring an additional 49,786 shares during the quarter. Sei Investments Co.’s holdings in Boyd Gaming were worth $16,415,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of Boyd Gaming by 23.0% in the first quarter. Blue Trust Inc. now owns 653 shares of the company’s stock worth $54,000 after purchasing an additional 122 shares during the last quarter. Assetmark Inc. lifted its holdings in Boyd Gaming by 9.1% during the 1st quarter. Assetmark Inc. now owns 1,553 shares of the company’s stock valued at $128,000 after buying an additional 129 shares in the last quarter. Optas LLC grew its stake in Boyd Gaming by 4.1% in the 1st quarter. Optas LLC now owns 3,486 shares of the company’s stock worth $286,000 after acquiring an additional 138 shares in the last quarter. TD Private Client Wealth LLC increased its position in shares of Boyd Gaming by 24.5% during the fourth quarter. TD Private Client Wealth LLC now owns 854 shares of the company’s stock worth $73,000 after acquiring an additional 168 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in shares of Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after acquiring an additional 196 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors.

Boyd Gaming Price Performance

Shares of BYD opened at $87.03 on Friday. The company has a 50 day moving average of $86.67 and a two-hundred day moving average of $84.90. 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 twelve month low of $76.33 and a twelve month high of $91.41. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 3.83, a price-to-earnings-growth ratio of 2.22 and a beta of 1.07.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04. Boyd Gaming had a return on equity of 22.29% and a net margin of 44.34%.The business 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 earnings per share. The business’s quarterly revenue was up .0% on a year-over-year basis. As a group, analysts predict that Boyd Gaming Corporation will post 7.29 earnings per share for the current fiscal year.

Boyd Gaming announced that its board has authorized a stock repurchase program on Thursday, April 23rd that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 7.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, June 15th were given a dividend of $0.20 per share. 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 currently 3.52%.

Insider Buying and Selling at Boyd Gaming

In other news, CEO Keith Smith sold 100,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 62,914 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $84.03, for a total transaction of $5,286,663.42. Following the transaction, the chairman 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. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 175,691 shares of company stock worth $15,023,527. 22.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BYD has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on Boyd Gaming in a report on Friday, June 26th. They issued a “neutral” rating and a $91.00 price target for the company. Barclays lifted their target price on Boyd Gaming from $86.00 to $87.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. upped their target price on Boyd Gaming from $90.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. 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, July 24th. Finally, Susquehanna raised their price target on Boyd Gaming from $84.00 to $87.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $94.69.

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.