Sei Investments Co. Raises Holdings in Boyd Gaming Corporation $BYD

Sei Investments Co. lifted its position in Boyd Gaming Corporation (NYSE:BYD) by 33.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 199,749 shares of the company’s stock after purchasing an additional 49,786 shares during the quarter. Sei Investments Co. owned about 0.27% of Boyd Gaming worth $16,415,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new position in Boyd Gaming during the fourth quarter valued at approximately $25,000. Los Angeles Capital Management LLC purchased a new stake in shares of Boyd Gaming during the 4th quarter worth approximately $25,000. First Horizon Corp purchased a new stake in shares of Boyd Gaming during the 4th quarter worth approximately $41,000. Bessemer Group Inc. boosted its position in shares of Boyd Gaming by 62.8% during 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. Finally, Advisors Asset Management Inc. boosted its position in shares of Boyd Gaming by 56.8% during 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. 76.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on BYD. Benchmark initiated coverage on shares of Boyd Gaming in a research report on Monday, June 22nd. They issued a “buy” rating and a $100.00 price target on the stock. Citigroup increased their price objective on shares of Boyd Gaming from $86.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Mizuho set a $104.00 price objective on shares of Boyd Gaming in a research note on Friday, July 24th. Texas Capital upgraded shares of Boyd Gaming to a “strong-buy” rating in a report on Wednesday, June 3rd. Finally, Susquehanna boosted their target price on shares of Boyd Gaming from $84.00 to $87.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $94.69.

Insider Activity

In other news, CFO Josh Hirsberg sold 12,777 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer owned 422,969 shares in the company, valued at approximately $37,965,697.44. This trade represents a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Keith Smith sold 100,000 shares of Boyd Gaming 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 transaction, the chief executive officer directly owned 996,981 shares of the company’s stock, valued at approximately $85,640,667.90. This represents a 9.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 175,691 shares of company stock valued at $15,023,527. 22.82% of the stock is currently owned by company insiders.

Boyd Gaming Stock Performance

NYSE BYD opened at $87.03 on Friday. The company has a market cap of $6.47 billion, a P/E ratio of 3.83, a P/E/G ratio of 2.22 and a beta of 1.07. 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 business’s 50 day moving average price is $86.67 and its 200-day moving average price is $84.90. Boyd Gaming Corporation has a fifty-two week low of $76.33 and a fifty-two week high of $91.41.

Boyd Gaming (NYSE:BYD) last released its quarterly 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 company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Boyd Gaming had a return on equity of 22.29% and a net margin of 44.34%.Boyd Gaming’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.87 EPS. Sell-side analysts predict that Boyd Gaming Corporation will post 7.29 earnings per share for the current year.

Boyd Gaming Dividend Announcement

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

Boyd Gaming declared that its Board of Directors has initiated a stock buyback plan on Thursday, April 23rd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 7.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Boyd Gaming Profile

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.