Cetera Investment Advisers Grows Stock Position in Boyd Gaming Corporation (NYSE:BYD)

Key Points

• Cetera Investment Advisers increased its stake in Boyd Gaming Corporation by 19.4%, acquiring an additional 3,094 shares in the first quarter, bringing their total to 19,070 shares valued at approximately $1.25 million.
• Insider transactions included significant sales by COO Ted Bogich and insider Stephen S. Thompson, who sold 16,497 and 15,906 shares respectively, marking a decline in their ownership stakes of 26.78% and 29.18%.
• Boyd Gaming reported quarterly earnings of $1.87 EPS, surpassing analysts' expectations, with total revenues of $1.03 billion, showing a year-over-year increase of 6.9%.

Cetera Investment Advisers boosted its position in Boyd Gaming Corporation (NYSE:BYD - Free Report) by 19.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,070 shares of the company's stock after buying an additional 3,094 shares during the quarter. Cetera Investment Advisers' holdings in Boyd Gaming were worth $1,255,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Louisiana State Employees Retirement System boosted its stake in shares of Boyd Gaming by 1.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the company's stock worth $1,224,000 after acquiring an additional 200 shares during the period. State of Alaska Department of Revenue boosted its stake in Boyd Gaming by 0.4% in the 1st quarter. State of Alaska Department of Revenue now owns 47,753 shares of the company's stock valued at $3,143,000 after purchasing an additional 205 shares during the period. Choreo LLC raised its holdings in Boyd Gaming by 0.9% in the 1st quarter. Choreo LLC now owns 30,164 shares of the company's stock valued at $1,991,000 after acquiring an additional 271 shares in the last quarter. CoreCap Advisors LLC raised its holdings in Boyd Gaming by 91.0% in the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock valued at $42,000 after acquiring an additional 273 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its stake in Boyd Gaming by 7.5% during the first quarter. Aaron Wealth Advisors LLC now owns 3,934 shares of the company's stock worth $259,000 after purchasing an additional 276 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Stifel Nicolaus boosted their price target on Boyd Gaming from $87.00 to $90.00 and gave the stock a "hold" rating in a report on Friday, July 25th. Mizuho boosted their price target on Boyd Gaming from $86.00 to $89.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Morgan Stanley reissued a "sell" rating on shares of Boyd Gaming in a report on Friday, July 11th. Raymond James Financial boosted their price target on Boyd Gaming from $81.00 to $85.00 and gave the stock an "outperform" rating in a report on Monday, June 30th. Finally, Barclays boosted their price target on Boyd Gaming from $73.00 to $87.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $86.62.

Boyd Gaming Trading Down 0.5%

Shares of BYD stock traded down $0.46 on Thursday, hitting $83.87. The company had a trading volume of 546,041 shares, compared to its average volume of 1,064,756. The firm has a market cap of $6.72 billion, a P/E ratio of 12.91, a P/E/G ratio of 2.36 and a beta of 1.24. The stock's 50-day moving average is $80.41 and its two-hundred day moving average is $74.48. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86. Boyd Gaming Corporation has a twelve month low of $57.06 and a twelve month high of $87.76.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.20. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $976.81 million. During the same quarter in the prior year, the firm posted $1.58 earnings per share. The business's quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts anticipate that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.9%. Boyd Gaming's payout ratio is currently 11.08%.

Insiders Place Their Bets

In other Boyd Gaming news, insider Stephen S. Thompson sold 15,906 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $83.25, for a total value of $1,324,174.50. Following the transaction, the insider owned 38,609 shares in the company, valued at approximately $3,214,199.25. This represents a 29.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William R. Boyd sold 9,774 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $81.61, for a total value of $797,656.14. Following the completion of the transaction, the director owned 15,188 shares in the company, valued at $1,239,492.68. This represents a 39.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,403 shares of company stock worth $3,757,196. Corporate insiders own 27.94% of the company's stock.

About Boyd Gaming

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.