Boyd Gaming Corporation $BYD is Seven Six Capital Management LLC’s Largest Position

Seven Six Capital Management LLC boosted its position in Boyd Gaming Corporation (NYSE:BYD) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 125,875 shares of the company’s stock after purchasing an additional 6,700 shares during the quarter. Boyd Gaming comprises approximately 10.9% of Seven Six Capital Management LLC’s investment portfolio, making the stock its largest position. Seven Six Capital Management LLC owned about 0.17% of Boyd Gaming worth $10,344,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its holdings 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 worth $36,000 after buying an additional 196 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Boyd Gaming by 13.9% in the first quarter. AQR Capital Management LLC now owns 9,623 shares of the company’s stock worth $628,000 after buying an additional 1,172 shares in the last quarter. Caxton Associates LLP acquired a new position in Boyd Gaming during the first quarter worth about $207,000. M&T Bank Corp acquired a new position in Boyd Gaming during the second quarter worth about $229,000. Finally, Amundi grew its stake in Boyd Gaming by 14,719.0% during the 2nd quarter. Amundi now owns 3,112 shares of the company’s stock valued at $253,000 after acquiring an additional 3,091 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Stock Performance

NYSE:BYD opened at $90.78 on Thursday. The company’s 50-day moving average is $86.52 and its two-hundred day moving average is $84.90. Boyd Gaming Corporation has a 1-year low of $76.33 and a 1-year high of $91.41. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.60 and a quick ratio of 0.58. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 4.00, a PEG ratio of 2.23 and a beta of 1.07.

Boyd Gaming (NYSE:BYD) last announced 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. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.29%. The business’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.87 EPS. Analysts forecast that Boyd Gaming Corporation will post 7.29 EPS for the current year.

Boyd Gaming announced that its board has initiated a share repurchase plan on Thursday, April 23rd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Boyd Gaming Dividend Announcement

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

Insider Buying and Selling at Boyd Gaming

In related news, CEO Keith Smith sold 100,000 shares of the firm’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 completion of the sale, the chief executive officer directly owned 996,981 shares of the company’s stock, valued at approximately $85,640,667.90. This trade represents a 9.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Josh Hirsberg sold 12,777 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $89.76, for a total transaction 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 212,777 shares of company stock worth $18,185,850 over the last quarter. 22.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BYD has been the topic of a number of research reports. Texas Capital raised shares of Boyd Gaming to a “strong-buy” rating in a research note on Wednesday, June 3rd. Weiss Ratings upgraded Boyd Gaming from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 4th. The Goldman Sachs Group initiated coverage on Boyd Gaming in a research report on Friday, June 26th. They set a “neutral” rating and a $91.00 price objective on the stock. Morgan Stanley lowered their price objective on Boyd Gaming from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Citigroup upped their target price on Boyd Gaming from $86.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $94.69.

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.