SG Americas Securities LLC Purchases 63,669 Shares of Boyd Gaming Corporation $BYD

SG Americas Securities LLC lifted its position in Boyd Gaming Corporation (NYSE:BYD) by 426.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 78,616 shares of the company’s stock after buying an additional 63,669 shares during the period. SG Americas Securities LLC’s holdings in Boyd Gaming were worth $6,461,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BYD. Capitolis Liquid Global Markets LLC purchased a new stake in shares of Boyd Gaming during the third quarter valued at $13,313,000. Northwestern Mutual Wealth Management Co. raised 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 worth $2,810,000 after acquiring an additional 30,860 shares during the last quarter. Clark Capital Management Group Inc. acquired a new stake in Boyd Gaming during the 3rd quarter worth about $50,295,000. Jefferies Financial Group Inc. acquired a new stake in Boyd Gaming during the 4th quarter worth about $15,551,000. Finally, WINTON GROUP Ltd purchased a new stake in Boyd Gaming during the 3rd quarter valued at about $6,034,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Insider Activity

In related news, Chairman Marianne Boyd Johnson sold 62,914 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $84.03, for a total transaction of $5,286,663.42. Following the completion of the transaction, the chairman owned 1,609,808 shares in the company, valued at $135,272,166.24. This represents a 3.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Keith Smith sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $85.90, for a total transaction of $8,590,000.00. Following the completion of the transaction, the chief executive officer directly owned 996,981 shares in the company, valued at $85,640,667.90. This represents a 9.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 200,000 shares of company stock worth $17,038,987. Company insiders own 22.82% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BYD. JPMorgan Chase & Co. raised their price objective on Boyd Gaming from $89.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Wells Fargo & Company dropped their target price on Boyd Gaming from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 16th. Susquehanna cut their price target on shares of Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Stifel Nicolaus reduced their price target on shares of Boyd Gaming from $95.00 to $91.00 and set a “hold” rating for the company in a research report on Friday, April 24th. Finally, Morgan Stanley reaffirmed a “mixed” rating on shares of Boyd Gaming in a report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $92.57.

Boyd Gaming Trading Up 0.1%

Shares of BYD stock opened at $89.82 on Monday. Boyd Gaming Corporation has a 1-year low of $76.33 and a 1-year high of $90.13. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 3.94, a PEG ratio of 2.09 and a beta of 1.08. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.60 and a quick ratio of 0.58. The stock has a 50 day simple moving average of $84.77 and a 200-day simple moving average of $84.51.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, April 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.16). The company had revenue of $997.36 million during the quarter, compared to analyst estimates of $1.04 billion. Boyd Gaming had a net margin of 44.84% and a return on equity of 25.63%. Boyd Gaming’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.62 EPS. On average, equities research analysts expect that Boyd Gaming Corporation will post 7.32 EPS for the current fiscal year.

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

Boyd Gaming Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, June 15th. Boyd Gaming’s dividend payout ratio (DPR) is presently 3.51%.

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.