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

Key Points

• Evolve Private Wealth LLC purchased 36,400 Boyd Gaming shares worth approximately $3.22 million, while institutional investors collectively own 76.81% of the company.
• Analysts maintain a mixed-to-neutral outlook: Boyd Gaming has an average “Hold” rating and a consensus price target of $94.69, compared with shares opening at $80.85.
• Boyd Gaming exceeded quarterly EPS expectations, reporting $1.93 versus the $1.89 consensus estimate, and declared a quarterly dividend of $0.20, representing a 1.0% annualized yield.

Evolve Private Wealth LLC bought a new position in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 36,400 shares of the company's stock, valued at approximately $3,223,000. Evolve Private Wealth LLC owned 0.05% of Boyd Gaming as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. EP Wealth Advisors LLC acquired a new position in shares of Boyd Gaming in the 2nd quarter valued at about $997,000. Callan Family Office LLC bought a new stake in shares of Boyd Gaming during the 2nd quarter valued at about $342,000. Great Lakes Advisors LLC acquired a new stake in Boyd Gaming during the second quarter worth about $205,000. Foster & Motley Inc. acquired a new stake in Boyd Gaming during the second quarter worth about $9,087,000. Finally, Meeder Asset Management Inc. bought a new position in Boyd Gaming in the second quarter worth about $1,950,000. 76.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BYD has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on Boyd Gaming from $90.00 to $93.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Texas Capital raised Boyd Gaming to a "strong-buy" rating in a report on Wednesday, June 3rd. Wells Fargo & Company raised their price target on Boyd Gaming from $81.00 to $88.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 14th. Benchmark started coverage on Boyd Gaming in a research report on Monday, June 22nd. They set a "buy" rating and a $100.00 price objective for the company. Finally, Weiss Ratings downgraded Boyd Gaming from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $94.69.

Boyd Gaming Trading Down 0.1%

Shares of NYSE:BYD opened at $80.85 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 1.05. The company's 50-day moving average price is $86.17 and its 200 day moving average price is $84.61. The company 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. Boyd Gaming Corporation has a fifty-two week low of $76.33 and a fifty-two week high of $91.41.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its 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. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.52%. The firm had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter in the prior year, the firm earned $1.87 EPS. Boyd Gaming's quarterly revenue was up .0% on a year-over-year basis. Sell-side analysts anticipate that Boyd Gaming Corporation will post 7.29 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Boyd Gaming's dividend payout ratio is 3.52%.

Insider Buying and Selling

In other Boyd Gaming news, 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 transaction of $1,146,863.52. Following the sale, the chief financial officer owned 422,969 shares of the company's stock, valued at $37,965,697.44. The trade was a 2.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Keith Smith sold 100,000 shares of the business's 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 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 SEC filing for this sale provides additional information. Corporate insiders own 22.82% of the company's stock.

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.

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