EP Wealth Advisors LLC Takes $206,000 Position in Boyd Gaming Corporation $BYD

EP Wealth Advisors LLC purchased a new position in Boyd Gaming Corporation (NYSE:BYD) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,127 shares of the company’s stock, valued at approximately $206,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Seven Six Capital Management LLC bought a new stake in shares of Boyd Gaming in the 4th quarter worth about $9,162,000. Victory Capital Management Inc. grew its position in shares of Boyd Gaming by 13.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company’s stock worth $69,036,000 after acquiring an additional 122,822 shares in the last quarter. Northern Trust Corp grew its position in shares of Boyd Gaming by 14.2% in the 1st quarter. Northern Trust Corp now owns 682,518 shares of the company’s stock worth $44,930,000 after acquiring an additional 85,087 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Boyd Gaming during the 1st quarter valued at about $5,329,000. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Boyd Gaming during the first quarter worth about $5,091,000. 76.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 100,000 shares of Boyd Gaming stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $84.17, for a total value of $8,417,000.00. Following the transaction, the chairman directly owned 1,504,379 shares of the company’s stock, valued at $126,623,580.43. The trade was a 6.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Ted Bogich sold 16,497 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $83.18, for a total value of $1,372,220.46. Following the completion of the sale, the chief operating officer directly owned 45,116 shares of the company’s stock, valued at $3,752,748.88. This represents a 26.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 385,438 shares of company stock valued at $32,638,085. 21.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BYD shares. Stifel Nicolaus upped their price objective on shares of Boyd Gaming from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, July 25th. Raymond James Financial reaffirmed an “outperform” rating on shares of Boyd Gaming in a research note on Monday. Susquehanna lowered shares of Boyd Gaming from a “positive” rating to a “neutral” rating and raised their price objective for the company from $76.00 to $86.00 in a research note on Friday, July 11th. Barclays upped their target price on Boyd Gaming from $73.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. assumed coverage on Boyd Gaming in a research report on Monday, June 23rd. They set a “neutral” rating and a $79.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $86.62.

Boyd Gaming Trading Down 1.1%

Shares of NYSE:BYD opened at $85.40 on Wednesday. The firm has a fifty day moving average of $83.87 and a two-hundred day moving average of $75.47. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.53. Boyd Gaming Corporation has a 12-month low of $57.67 and a 12-month high of $87.83. The firm has a market capitalization of $6.85 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 2.44 and a beta of 1.23.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, July 24th. The company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.67 by $0.20. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $976.81 million. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 earnings per share. On average, equities analysts expect that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Boyd Gaming Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, September 15th. Boyd Gaming’s dividend payout ratio (DPR) is 11.08%.

Boyd Gaming Company Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.