Quantinno Capital Management LP Raises Holdings in Boyd Gaming Corporation $BYD

Quantinno Capital Management LP grew its stake in shares of Boyd Gaming Corporation (NYSE:BYD) by 18.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 925,070 shares of the company’s stock after acquiring an additional 142,468 shares during the quarter. Quantinno Capital Management LP owned about 1.24% of Boyd Gaming worth $76,022,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Advisors Asset Management Inc. raised its position in shares of Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after purchasing an additional 196 shares during the last quarter. AQR Capital Management LLC grew its position in Boyd Gaming by 13.9% during the 1st quarter. AQR Capital Management LLC now owns 9,623 shares of the company’s stock worth $628,000 after purchasing an additional 1,172 shares during the last quarter. Caxton Associates LLP acquired a new position in Boyd Gaming during the 1st quarter valued at approximately $207,000. M&T Bank Corp acquired a new position in Boyd Gaming during the 2nd quarter valued at approximately $229,000. Finally, Amundi raised its holdings in shares of Boyd Gaming by 14,719.0% in the second quarter. Amundi now owns 3,112 shares of the company’s stock worth $253,000 after buying an additional 3,091 shares during the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Keith Smith sold 100,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $85.90, for a total value of $8,590,000.00. Following the completion of the transaction, the chief executive officer owned 996,981 shares of the company’s stock, valued at $85,640,667.90. The trade was a 9.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Marianne Boyd Johnson sold 62,914 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $84.03, for a total value of $5,286,663.42. Following the completion of the sale, the chairman owned 1,609,808 shares in the company, valued at $135,272,166.24. The trade was a 3.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 212,777 shares of company stock valued at $18,185,850. Company insiders own 22.82% of the company’s stock.

Wall Street Analyst Weigh In

BYD has been the subject of several research reports. Weiss Ratings upgraded shares of Boyd Gaming from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 4th. Texas Capital upgraded Boyd Gaming to a “strong-buy” rating in a research note on Wednesday, June 3rd. Benchmark initiated coverage on Boyd Gaming in a research report on Monday, June 22nd. They set a “buy” rating and a $100.00 price target for the company. Susquehanna lifted their price target on Boyd Gaming from $84.00 to $87.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Mizuho set a $104.00 price target on Boyd Gaming in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $94.69.

Boyd Gaming Stock Performance

Shares of NYSE BYD opened at $91.10 on Wednesday. The company has a 50 day simple moving average of $86.29 and a two-hundred day simple moving average of $84.89. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 4.01, a PEG ratio of 2.19 and a beta of 1.07. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. Boyd Gaming Corporation has a 12 month low of $76.33 and a 12 month high of $91.41.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, July 23rd. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.29%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the business earned $1.87 earnings per share. The business’s quarterly revenue was up .0% compared to the same quarter last year. As a group, analysts predict that Boyd Gaming Corporation will post 7.28 earnings per share for the current year.

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

Boyd Gaming Dividend Announcement

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

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.