Securian Asset Management Inc. Reduces Stock Position in Boyd Gaming Corporation $BYD

Securian Asset Management Inc. lessened its stake in shares of Boyd Gaming Corporation (NYSE:BYD) by 7.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,649 shares of the company’s stock after selling 362 shares during the quarter. Securian Asset Management Inc.’s holdings in Boyd Gaming were worth $364,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BYD. Ruffer LLP bought a new stake in Boyd Gaming during the 2nd quarter worth approximately $6,471,000. Counterpoint Mutual Funds LLC purchased a new position in Boyd Gaming during the second quarter worth $402,000. EP Wealth Advisors LLC purchased a new position in Boyd Gaming during the first quarter worth $206,000. Strs Ohio bought a new stake in shares of Boyd Gaming during the first quarter worth $1,939,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Boyd Gaming during the first quarter worth $598,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on BYD shares. Morgan Stanley reaffirmed a “sell” rating on shares of Boyd Gaming in a research note on Friday, July 11th. Zacks Research lowered Boyd Gaming from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Mizuho upped their price objective on Boyd Gaming from $89.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday. Weiss Ratings reiterated a “buy (b)” rating on shares of Boyd Gaming in a research report on Friday. Finally, Stifel Nicolaus raised their price objective on Boyd Gaming from $87.00 to $90.00 and gave the company a “hold” rating in a report on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $89.67.

Insider Buying and Selling

In related news, CEO Keith Smith sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $83.09, for a total transaction of $4,154,500.00. Following the completion of the sale, the chief executive officer owned 1,096,689 shares in the company, valued at $91,123,889.01. The trade was a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen S. Thompson sold 15,906 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $83.25, for a total value of $1,324,174.50. Following the sale, the insider owned 38,609 shares of the company’s stock, valued at approximately $3,214,199.25. The trade was a 29.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 385,438 shares of company stock worth $32,638,085 over the last 90 days. 27.94% of the stock is owned by insiders.

Boyd Gaming Stock Down 7.1%

Shares of BYD opened at $78.92 on Friday. The firm has a market cap of $6.33 billion, a P/E ratio of 3.45, a price-to-earnings-growth ratio of 2.11 and a beta of 1.30. Boyd Gaming Corporation has a 12-month low of $58.94 and a 12-month high of $88.49. The company’s 50-day moving average price is $84.52 and its 200 day moving average price is $79.00. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Tuesday, April 11th. The company reported $1.35 earnings per share (EPS) for the quarter. The firm had revenue of $707.32 million for the quarter. Boyd Gaming had a net margin of 46.02% and a return on equity of 41.97%. On average, sell-side analysts forecast that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, September 15th. Boyd Gaming’s payout ratio is currently 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.