Evolve Private Wealth LLC Buys Shares of 36,400 Boyd Gaming Corporation $BYD

Evolve Private Wealth LLC purchased a new position in shares of Boyd Gaming Corporation (NYSE:BYD) during the second quarter, Holdings Channel.com reports. The fund purchased 36,400 shares of the company’s stock, valued at approximately $3,223,000.

A number of other institutional investors also recently made changes to their positions in the stock. EP Wealth Advisors LLC bought a new position in shares of Boyd Gaming in the second quarter valued at approximately $997,000. Callan Family Office LLC acquired a new position in shares of Boyd Gaming during the second quarter valued at approximately $342,000. Great Lakes Advisors LLC bought a new stake in Boyd Gaming during the second quarter worth approximately $205,000. Foster & Motley Inc. bought a new stake in Boyd Gaming during the second quarter worth approximately $9,087,000. Finally, Meeder Asset Management Inc. acquired a new stake in Boyd Gaming in the second quarter worth approximately $1,950,000. 76.81% of the stock is owned by institutional investors and hedge funds.

Boyd Gaming Stock Down 0.1%

BYD stock opened at $80.85 on Friday. Boyd Gaming Corporation has a 12 month low of $76.33 and a 12 month high of $91.41. The firm has a market cap of $5.87 billion, a PE ratio of 3.56, a P/E/G ratio of 1.98 and a beta of 1.08. The firm has a 50 day simple moving average of $86.17 and a 200 day simple moving average of $84.61. 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 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. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.52%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the firm posted $1.87 earnings per share. Equities research analysts forecast that Boyd Gaming Corporation will post 7.29 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. Boyd Gaming’s dividend payout ratio (DPR) is currently 3.52%.

Wall Street Analyst Weigh In

BYD has been the subject of a number of research reports. Texas Capital raised Boyd Gaming to a “strong-buy” rating in a research note on Wednesday, June 3rd. Barclays boosted their price objective on Boyd Gaming from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Friday, July 24th. Wells Fargo & Company upped their price objective on Boyd Gaming from $81.00 to $88.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. Susquehanna raised their target price on Boyd Gaming from $84.00 to $87.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, The Goldman Sachs Group initiated coverage on Boyd Gaming in a report on Friday, June 26th. They set a “neutral” rating and a $91.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $94.69.

Insider Buying and Selling at Boyd Gaming

In other news, CEO Keith Smith sold 100,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $85,640,667.90. This trade represents a 9.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Josh Hirsberg sold 12,777 shares of Boyd Gaming stock in a transaction 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 transaction, the chief financial officer owned 422,969 shares in the company, valued at $37,965,697.44. The trade was a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 22.82% of the company’s stock.

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.