Sanctuary Advisors LLC Purchases New Position in Boyd Gaming Co. (NYSE:BYD)

Sanctuary Advisors LLC acquired a new position in Boyd Gaming Co. (NYSE:BYD) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 37,804 shares of the company’s stock, valued at approximately $2,010,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BYD. Altshuler Shaham Ltd purchased a new stake in Boyd Gaming during the second quarter worth $29,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Boyd Gaming by 57.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock worth $35,000 after acquiring an additional 189 shares in the last quarter. Blue Trust Inc. grew its position in shares of Boyd Gaming by 58.2% during the 2nd quarter. Blue Trust Inc. now owns 783 shares of the company’s stock valued at $43,000 after acquiring an additional 288 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Boyd Gaming in the 1st quarter valued at about $90,000. Finally, Covestor Ltd increased its stake in shares of Boyd Gaming by 132.6% in the 1st quarter. Covestor Ltd now owns 1,742 shares of the company’s stock valued at $117,000 after purchasing an additional 993 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

Boyd Gaming Price Performance

NYSE:BYD opened at $63.21 on Wednesday. Boyd Gaming Co. has a one year low of $49.34 and a one year high of $68.46. The stock has a market cap of $6.00 billion, a PE ratio of 11.35 and a beta of 1.57. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.79 and a current ratio of 0.83. The stock has a 50 day moving average price of $60.32 and a 200 day moving average price of $58.51.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.49 by $0.09. Boyd Gaming had a return on equity of 34.29% and a net margin of 13.32%. The business had revenue of $967.50 million for the quarter, compared to analyst estimates of $909.49 million. During the same quarter in the previous year, the firm earned $1.58 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities research analysts expect that Boyd Gaming Co. will post 6.25 EPS for the current fiscal year.

Boyd Gaming Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Sunday, September 15th will be paid a $0.17 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.68 annualized dividend and a dividend yield of 1.08%. Boyd Gaming’s dividend payout ratio (DPR) is 12.21%.

Insider Transactions at Boyd Gaming

In related news, Director Christine J. Spadafor sold 1,242 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $60.36, for a total value of $74,967.12. Following the transaction, the director now directly owns 1,096 shares in the company, valued at approximately $66,154.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total value of $4,404,619.90. Following the sale, the chairman now directly owns 1,423,498 shares of the company’s stock, valued at approximately $85,737,284.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christine J. Spadafor sold 1,242 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the transaction, the director now directly owns 1,096 shares of the company’s stock, valued at $66,154.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 27.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Bank of America raised their price objective on Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Morgan Stanley raised shares of Boyd Gaming from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $66.00 to $74.00 in a report on Wednesday, September 4th. Macquarie decreased their price objective on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, Stifel Nicolaus upped their price target on shares of Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Boyd Gaming has an average rating of “Moderate Buy” and a consensus price target of $89.31.

Boyd Gaming Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.