Sanctuary Advisors LLC Cuts Position in Boyd Gaming Corporation $BYD

Sanctuary Advisors LLC decreased its holdings in Boyd Gaming Corporation (NYSE:BYD) by 86.5% in the first quarter, HoldingsChannel.com reports. The firm owned 2,663 shares of the company’s stock after selling 17,082 shares during the quarter. Sanctuary Advisors LLC’s holdings in Boyd Gaming were worth $219,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. grew its stake in Boyd Gaming by 1,466.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 32,965 shares of the company’s stock valued at $2,810,000 after acquiring an additional 30,860 shares during the period. Jefferies Financial Group Inc. acquired a new position in Boyd Gaming during the fourth quarter worth $15,551,000. III Capital Management acquired a new position in Boyd Gaming during the fourth quarter worth $4,177,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Boyd Gaming during the fourth quarter valued at $1,922,000. Finally, Convergence Investment Partners LLC acquired a new stake in shares of Boyd Gaming in the fourth quarter valued at about $1,256,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Josh Hirsberg sold 12,777 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total value of $1,146,863.52. Following the completion of the sale, the chief financial officer owned 422,969 shares of the company’s stock, valued at approximately $37,965,697.44. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Marianne Boyd Johnson sold 62,914 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were 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 directly owned 1,609,808 shares of the company’s stock, valued at approximately $135,272,166.24. This represents a 3.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 175,691 shares of company stock valued at $15,023,527 in the last ninety days. 22.82% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BYD has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Boyd Gaming from $90.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Morgan Stanley cut their price objective on Boyd Gaming from $90.00 to $89.00 and set an “equal weight” rating for the company in a research note on Monday, July 27th. Barclays increased their target price on Boyd Gaming from $86.00 to $87.00 and gave the company an “equal weight” rating in a report on Friday, July 24th. Susquehanna raised their target price on Boyd Gaming from $84.00 to $87.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Benchmark started coverage on Boyd Gaming in a research note on Monday, June 22nd. They issued a “buy” rating and a $100.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Boyd Gaming currently has an average rating of “Hold” and a consensus target price of $94.69.

Boyd Gaming Price Performance

Shares of NYSE BYD opened at $85.10 on Friday. The firm has a 50-day simple moving average of $86.78 and a 200-day simple moving average of $84.90. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 3.75, a price-to-earnings-growth ratio of 2.08 and a beta of 1.07. Boyd Gaming Corporation has a 52 week low of $76.33 and a 52 week high of $91.41.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results 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 period in the previous year, the business posted $1.87 earnings per share. Boyd Gaming’s quarterly revenue was up .0% on a year-over-year basis. On average, equities analysts predict that Boyd Gaming Corporation will post 7.29 earnings per share for the current fiscal year.

Boyd Gaming announced that its Board of Directors has initiated a stock buyback plan on Thursday, April 23rd that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership 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 paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 15th. Boyd Gaming’s dividend payout ratio (DPR) is 3.52%.

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.