39,811 Shares in Boyd Gaming Corporation $BYD Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new position in shares of Boyd Gaming Corporation (NYSE:BYD) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 39,811 shares of the company’s stock, valued at approximately $3,517,000.

Several other large investors have also modified their holdings of the business. Cetera Trust Company N.A purchased a new position in shares of Boyd Gaming during the 2nd quarter worth $356,000. Sanctuary Advisors LLC acquired a new position in Boyd Gaming in the second quarter valued at about $456,000. Solstein Capital LLC acquired a new position in Boyd Gaming in the second quarter valued at about $259,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Boyd Gaming in the second quarter valued at about $9,841,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in Boyd Gaming during the second quarter worth about $287,000. Institutional investors and hedge funds own 76.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BYD shares. JPMorgan Chase & Co. lifted their price target on shares of Boyd Gaming from $90.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Susquehanna upped their price objective 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. Wells Fargo & Company increased their price objective on shares of Boyd Gaming from $81.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. Barclays lifted their target price on shares of Boyd Gaming from $86.00 to $87.00 and gave the company an “equal weight” rating in a report on Friday, July 24th. Finally, Morgan Stanley cut their target price on Boyd Gaming from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $94.69.

Boyd Gaming Stock Performance

Shares of Boyd Gaming stock opened at $76.30 on Wednesday. The business has a 50-day moving average of $85.28 and a 200 day moving average of $84.40. Boyd Gaming Corporation has a 12 month low of $76.24 and a 12 month high of $91.41. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 3.36, a price-to-earnings-growth ratio of 1.38 and a beta of 1.06. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.77 and a quick ratio of 0.74.

Boyd Gaming (NYSE:BYD) last issued 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 company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.52%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.87 earnings per share. As a group, sell-side analysts forecast that Boyd Gaming Corporation will post 7.29 earnings per share for the current year.

Boyd Gaming Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. Boyd Gaming’s payout ratio is 3.52%.

Insider Buying and Selling at Boyd Gaming

In related news, CFO Josh Hirsberg sold 12,777 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 422,969 shares of the company’s stock, valued at $37,965,697.44. This represents a 2.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 22.82% of the company’s stock.

Boyd Gaming Company 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.