EP Wealth Advisors LLC Makes New Investment in Boyd Gaming Corporation $BYD

Key Points

• EP Wealth Advisors LLC has taken a new position in Boyd Gaming Corporation, purchasing 3,127 shares valued at approximately $206,000.
• Insider activity includes Chairperson Marianne Boyd Johnson selling 100,000 shares for $8.42 million, reducing her position by 6.23%.
• Boyd Gaming recently declared a quarterly dividend of $0.18 per share, representing an annualized yield of 0.8% for shareholders of record.

EP Wealth Advisors LLC purchased a new stake in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,127 shares of the company's stock, valued at approximately $206,000.

Several other institutional investors have also recently made changes to their positions in BYD. Victory Capital Management Inc. raised its stake in shares of Boyd Gaming by 13.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company's stock valued at $69,036,000 after acquiring an additional 122,822 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Boyd Gaming by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 983,823 shares of the company's stock worth $64,765,000 after buying an additional 8,850 shares during the period. Bank of New York Mellon Corp increased its stake in Boyd Gaming by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 692,496 shares of the company's stock worth $45,587,000 after buying an additional 7,400 shares during the period. Northern Trust Corp increased its stake in Boyd Gaming by 14.2% during the 1st quarter. Northern Trust Corp now owns 682,518 shares of the company's stock worth $44,930,000 after buying an additional 85,087 shares during the period. Finally, Raymond James Financial Inc. increased its stake in Boyd Gaming by 7.5% during the 1st quarter. Raymond James Financial Inc. now owns 641,104 shares of the company's stock worth $42,204,000 after buying an additional 44,558 shares during the period. Hedge funds and other institutional investors own 76.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BYD. Macquarie upped their target price on shares of Boyd Gaming from $74.00 to $88.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Stifel Nicolaus boosted their price target on shares of Boyd Gaming from $87.00 to $90.00 and gave the stock a "hold" rating in a report on Friday, July 25th. Morgan Stanley reiterated a "sell" rating on shares of Boyd Gaming in a report on Friday, July 11th. Mizuho boosted their price target on shares of Boyd Gaming from $86.00 to $89.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Boyd Gaming in a report on Monday, June 23rd. They set a "neutral" rating and a $79.00 price target for the company. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Boyd Gaming has a consensus rating of "Hold" and an average price target of $86.62.

Boyd Gaming Stock Performance

BYD stock traded down $1.17 on Monday, hitting $83.51. The company's stock had a trading volume of 841,822 shares, compared to its average volume of 736,414. The firm has a 50 day moving average of $84.15 and a two-hundred day moving average of $75.72. Boyd Gaming Corporation has a 1 year low of $58.94 and a 1 year high of $87.83. The stock has a market cap of $6.70 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 2.39 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53.

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

Boyd Gaming Announces Dividend

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

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, Director William R. Boyd sold 9,774 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $81.61, for a total transaction of $797,656.14. Following the completion of the transaction, the director owned 15,188 shares in the company, valued at approximately $1,239,492.68. This represents a 39.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Keith Smith sold 25,000 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $85.21, for a total transaction of $2,130,250.00. Following the transaction, the chief executive officer owned 1,046,689 shares of the company's stock, valued at approximately $89,188,369.69. The trade was a 2.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 385,438 shares of company stock worth $32,638,085 over the last 90 days. Company insiders own 21.97% of the company's stock.

Boyd Gaming Company 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.