Evolve Private Wealth LLC Purchases Shares of 39,534 Boyd Gaming Corporation $BYD

Evolve Private Wealth LLC purchased a new position in shares of Boyd Gaming Corporation (NYSE:BYD) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 39,534 shares of the company’s stock, valued at approximately $3,377,000.

A number of other large investors also recently modified their holdings of the company. TD Private Client Wealth LLC lifted its stake in shares of Boyd Gaming by 24.5% in the 4th quarter. TD Private Client Wealth LLC now owns 854 shares of the company’s stock valued at $73,000 after purchasing an additional 168 shares in the last quarter. Advisors Asset Management Inc. increased its position in Boyd Gaming by 56.8% during the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after purchasing an additional 196 shares in the last quarter. Interchange Capital Partners LLC raised its holdings in Boyd Gaming by 9.0% in the fourth quarter. Interchange Capital Partners LLC now owns 2,996 shares of the company’s stock valued at $255,000 after buying an additional 247 shares during the period. Altshuler Shaham Ltd acquired a new position in Boyd Gaming during the fourth quarter valued at approximately $25,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Boyd Gaming during the fourth quarter worth approximately $25,000. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BYD has been the subject of several recent research reports. Weiss Ratings upgraded Boyd Gaming from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 4th. Morgan Stanley reaffirmed a “mixed” rating on shares of Boyd Gaming in a research report on Wednesday, April 8th. Susquehanna lowered their target price on Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. JPMorgan Chase & Co. boosted their price target on Boyd Gaming from $89.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Finally, Stifel Nicolaus decreased their price target on Boyd Gaming from $95.00 to $91.00 and set a “hold” rating for the company in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $92.08.

Boyd Gaming Stock Performance

BYD stock opened at $83.86 on Thursday. Boyd Gaming Corporation has a 12-month low of $75.13 and a 12-month high of $89.96. The stock’s 50 day simple moving average is $84.67 and its 200 day simple moving average is $84.26. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The firm has a market cap of $6.23 billion, a P/E ratio of 3.68, a P/E/G ratio of 2.02 and a beta of 1.08.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, April 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.16). The business had revenue of $997.36 million during the quarter, compared to the consensus estimate of $1.04 billion. Boyd Gaming had a return on equity of 25.63% and a net margin of 44.84%.The business’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $1.62 EPS. As a group, equities research analysts predict that Boyd Gaming Corporation will post 7.32 EPS for the current year.

Boyd Gaming Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, June 15th. Boyd Gaming’s dividend payout ratio is presently 3.51%.

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

Insider Buying and Selling at Boyd Gaming

In other news, Chairman Marianne Boyd Johnson sold 62,914 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $84.03, for a total transaction of $5,286,663.42. Following the completion of the transaction, the chairman owned 1,609,808 shares in the company, valued at approximately $135,272,166.24. This represents a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Keith Smith sold 100,000 shares of the 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 in the company, valued at approximately $85,640,667.90. This trade represents a 9.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 200,000 shares of company stock worth $17,038,987 over the last ninety days. 22.82% of the stock is owned by corporate insiders.

About Boyd Gaming

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.