Quantbot Technologies LP Buys New Stake in Boyd Gaming Corporation $BYD

Quantbot Technologies LP bought a new stake in shares of Boyd Gaming Corporation (NYSE:BYD) during the second quarter, HoldingsChannel reports. The fund bought 29,434 shares of the company’s stock, valued at approximately $2,600,000.

Several other hedge funds also recently bought and sold shares of BYD. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Boyd Gaming by 1,466.0% during the fourth 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 last quarter. Jefferies Financial Group Inc. acquired a new position in Boyd Gaming in the 4th quarter valued at about $15,551,000. III Capital Management acquired a new position in Boyd Gaming in the 4th quarter valued at about $4,177,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Boyd Gaming in the 4th quarter valued at about $1,922,000. Finally, Convergence Investment Partners LLC purchased a new position in Boyd Gaming in the 4th quarter valued at about $1,256,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BYD shares. Stifel Nicolaus lifted their price target on shares of Boyd Gaming from $91.00 to $92.00 and gave the stock a “hold” rating in a report on Friday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of Boyd Gaming from $90.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Wells Fargo & Company raised their target price on shares of Boyd Gaming from $81.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. The Goldman Sachs Group assumed coverage on shares of Boyd Gaming in a research note on Friday, June 26th. They issued a “neutral” rating and a $91.00 target price for the company. Finally, Morgan Stanley cut their price target on Boyd Gaming from $90.00 to $89.00 and set an “equal weight” rating for the company in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $94.69.

Insiders Place Their Bets

In related news, CEO Keith Smith sold 100,000 shares of the stock in a transaction on 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 transaction, the chief executive officer directly owned 996,981 shares of the company’s stock, valued at approximately $85,640,667.90. This trade represents a 9.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Josh Hirsberg sold 12,777 shares of the 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 directly owned 422,969 shares in the company, valued at $37,965,697.44. This trade represents a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 22.82% of the company’s stock.

Boyd Gaming Price Performance

BYD opened at $80.85 on Monday. Boyd Gaming Corporation has a 1 year low of $76.33 and a 1 year high of $91.41. The company’s 50 day simple moving average is $86.17 and its 200 day simple moving average is $84.61. The stock has a market capitalization of $5.87 billion, a PE ratio of 3.56, a P/E/G ratio of 2.00 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.74 and a current ratio of 0.77.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.89 by $0.04. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.52%. Boyd Gaming’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.87 earnings per share. As a group, sell-side analysts expect that Boyd Gaming Corporation will post 7.29 EPS for the current year.

Boyd Gaming Announces Dividend

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 payout ratio is currently 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.