Sei Investments Co. Has $609,000 Position in Boyd Gaming Corporation (BYD)
Sei Investments Co. lowered its stake in Boyd Gaming Corporation (NYSE:BYD) by 46.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,378 shares of the company’s stock after selling 20,099 shares during the quarter. Sei Investments Co.’s holdings in Boyd Gaming were worth $609,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of BYD. Dimensional Fund Advisors LP increased its stake in Boyd Gaming by 34.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 522,507 shares of the company’s stock worth $11,500,000 after purchasing an additional 133,947 shares in the last quarter. Aperio Group LLC increased its stake in Boyd Gaming by 4.7% in the 2nd quarter. Aperio Group LLC now owns 31,737 shares of the company’s stock worth $787,000 after purchasing an additional 1,426 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Boyd Gaming in the 2nd quarter worth about $340,000. Great West Life Assurance Co. Can increased its stake in Boyd Gaming by 40.4% in the 2nd quarter. Great West Life Assurance Co. Can now owns 160,128 shares of the company’s stock worth $3,970,000 after purchasing an additional 46,064 shares in the last quarter. Finally, Texas Permanent School Fund increased its stake in Boyd Gaming by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 60,351 shares of the company’s stock worth $1,497,000 after purchasing an additional 600 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on BYD. Stifel Nicolaus lifted their price target on Boyd Gaming from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Friday, October 27th. ValuEngine cut Boyd Gaming from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. SunTrust Banks reaffirmed a “buy” rating and set a $27.00 target price on shares of Boyd Gaming in a research note on Tuesday, October 24th. Zacks Investment Research cut Boyd Gaming from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, Morgan Stanley set a $28.00 target price on Boyd Gaming and gave the company a “hold” rating in a research note on Tuesday, October 24th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Boyd Gaming presently has a consensus rating of “Buy” and a consensus price target of $28.00.
Boyd Gaming Corporation (NYSE BYD) opened at $32.03 on Monday. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.68 and a current ratio of 0.73. Boyd Gaming Corporation has a 12 month low of $19.19 and a 12 month high of $33.02. The firm has a market capitalization of $3,602.51, a PE ratio of 27.14 and a beta of 1.81.
Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The firm had revenue of $587.70 million for the quarter, compared to analyst estimates of $592.29 million. Boyd Gaming had a net margin of 5.08% and a return on equity of 13.82%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.14 earnings per share. equities research analysts forecast that Boyd Gaming Corporation will post 1.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Thursday, December 28th will be issued a dividend of $0.05 per share. The ex-dividend date is Wednesday, December 27th. This represents a $0.20 annualized dividend and a dividend yield of 0.62%. Boyd Gaming’s dividend payout ratio is 19.23%.
In other news, Director Robert L. Boughner sold 40,000 shares of Boyd Gaming stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $26.70, for a total transaction of $1,068,000.00. Following the completion of the sale, the director now directly owns 40,000 shares in the company, valued at approximately $1,068,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP William R. Boyd sold 7,000 shares of Boyd Gaming stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $26.71, for a total value of $186,970.00. Following the sale, the vice president now owns 1,251 shares of the company’s stock, valued at $33,414.21. The disclosure for this sale can be found here. 29.16% of the stock is owned by insiders.
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Boyd Gaming Profile
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
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