Y Intercept Hong Kong Ltd Buys Shares of 11,807 Boyd Gaming Corporation $BYD

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Boyd Gaming, buying 11,807 shares worth about $970,000 in the first quarter.
• Boyd Gaming shares traded down 1.5% to $86.09, and the stock is near its 50-day and 200-day moving averages with a market value of $6.4 billion.
• The company recently missed earnings and revenue estimates for the quarter, but it also announced a $500 million share buyback and a quarterly dividend of $0.20 per share.

Y Intercept Hong Kong Ltd purchased a new position in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,807 shares of the company's stock, valued at approximately $970,000.

Several other large investors have also made changes to their positions in the company. Elevation Point Wealth Partners LLC bought a new stake in Boyd Gaming during the first quarter worth $263,000. Deprince Race & Zollo Inc. acquired a new position in shares of Boyd Gaming during the 1st quarter worth $21,810,000. Foster & Motley Inc. raised its holdings in shares of Boyd Gaming by 19.5% during the 1st quarter. Foster & Motley Inc. now owns 98,730 shares of the company's stock worth $8,114,000 after buying an additional 16,119 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Boyd Gaming during the 1st quarter worth $1,381,000. Finally, Blue Trust Inc. lifted its position in shares of Boyd Gaming by 23.0% during the 1st quarter. Blue Trust Inc. now owns 653 shares of the company's stock worth $54,000 after buying an additional 122 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.

Boyd Gaming Trading Down 1.5%

Boyd Gaming stock traded down $1.28 during trading hours on Friday, hitting $86.09. The stock had a trading volume of 626,236 shares, compared to its average volume of 810,617. The business's 50 day simple moving average is $84.98 and its 200-day simple moving average is $84.76. Boyd Gaming Corporation has a one year low of $76.33 and a one year high of $91.00. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 3.77, a P/E/G ratio of 2.01 and a beta of 1.07. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.90.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The company reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.16). The firm had revenue of $997.36 million for the quarter, compared to the consensus estimate of $1.04 billion. Boyd Gaming had a return on equity of 25.63% and a net margin of 44.84%.The business's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 earnings per share. On average, equities analysts predict that Boyd Gaming Corporation will post 7.32 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

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

Boyd Gaming declared that its Board of Directors has initiated a share buyback program on Thursday, April 23rd that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 7.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

BYD has been the subject of several research analyst reports. Susquehanna lowered their target price on Boyd Gaming from $89.00 to $87.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. Stifel Nicolaus decreased their price target on shares of Boyd Gaming from $95.00 to $91.00 and set a "hold" rating on the stock in a report on Friday, April 24th. JPMorgan Chase & Co. upped their price objective on shares of Boyd Gaming from $89.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, April 24th. Mizuho dropped their price objective on shares of Boyd Gaming from $99.00 to $96.00 and set an "outperform" rating for the company in a research note on Friday, April 24th. Finally, Benchmark began coverage on shares of Boyd Gaming in a research report on Monday, June 22nd. They issued a "buy" rating and a $100.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $93.15.

Insider Buying and Selling at Boyd Gaming

In other news, CEO Keith Smith sold 100,000 shares of Boyd Gaming stock in a transaction on 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 transaction, the chief executive officer owned 996,981 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Marianne Boyd Johnson sold 62,914 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $84.03, for a total transaction of $5,286,663.42. Following the completion of the sale, the chairman directly owned 1,609,808 shares in the company, valued at approximately $135,272,166.24. This represents a 3.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 200,000 shares of company stock valued at $17,038,987 in the last ninety days. Insiders own 22.82% of the company's stock.

Boyd Gaming Company 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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