Quantbot Technologies LP Acquires Shares of 29,434 Boyd Gaming Corporation $BYD

Key Points

• Quantbot Technologies LP acquired 29,434 Boyd Gaming shares in the second quarter, valued at approximately $2.6 million. Institutional investors collectively own 76.81% of BYD.
• Boyd Gaming reported quarterly EPS of $1.93, beating analyst expectations of $1.89, while revenue reached $1.03 billion. Analysts expect full-year EPS of approximately $7.29.
• The company declared a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 payout and a 1.0% yield; analysts maintain a consensus “Hold” rating with a $94.69 price target.

Quantbot Technologies LP acquired a new position in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 29,434 shares of the company's stock, valued at approximately $2,600,000.

Several other hedge funds and other institutional investors also recently modified their holdings of BYD. Evolve Private Wealth LLC acquired a new stake in shares of Boyd Gaming during the second quarter worth $3,223,000. EP Wealth Advisors LLC acquired a new position in Boyd Gaming in the 2nd quarter valued at $997,000. Callan Family Office LLC purchased a new position in Boyd Gaming during the 2nd quarter worth $342,000. Great Lakes Advisors LLC acquired a new stake in shares of Boyd Gaming in the 2nd quarter worth $205,000. Finally, Foster & Motley Inc. purchased a new stake in shares of Boyd Gaming in the second quarter valued at about $9,087,000. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Boyd Gaming Stock Up 0.1%

BYD stock opened at $80.85 on Monday. The company has a market cap of $5.87 billion, a P/E ratio of 3.56, a P/E/G ratio of 2.00 and a beta of 1.08. Boyd Gaming Corporation has a 52 week low of $76.33 and a 52 week high of $91.41. 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 current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 1.05.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.04. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.52%. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same period last year, the company posted $1.87 earnings per share. The firm's quarterly revenue was up .0% compared to the same quarter last year. On average, research analysts expect that Boyd Gaming Corporation will post 7.29 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of Boyd Gaming in a research note on Friday, June 26th. They set a "neutral" rating and a $91.00 price target on the stock. Texas Capital raised Boyd Gaming to a "strong-buy" rating in a report on Wednesday, June 3rd. Weiss Ratings downgraded Boyd Gaming from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Barclays raised their price target on Boyd Gaming from $86.00 to $87.00 and gave the company an "equal weight" rating in a report on Friday, July 24th. Finally, Benchmark assumed coverage on Boyd Gaming in a report on Monday, June 22nd. They set a "buy" rating and a $100.00 price objective on the stock. 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 MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $94.69.

Insider Buying and Selling at Boyd Gaming

In related news, CEO Keith Smith sold 100,000 shares of Boyd Gaming stock in a transaction on Wednesday, June 3rd. The stock was 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 of the company's stock, valued at approximately $85,640,667.90. The trade was a 9.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Josh Hirsberg sold 12,777 shares of the company's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $89.76, for a total value of $1,146,863.52. Following the completion of the sale, 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 position. The disclosure for this sale is available in the SEC filing. Insiders own 22.82% of the company's stock.

About Boyd Gaming

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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