Boyd Gaming Co. (NYSE:BYD) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its holdings in Boyd Gaming Co. (NYSE:BYD) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 120,287 shares of the company’s stock after selling 514 shares during the quarter. New York State Teachers Retirement System owned about 0.12% of Boyd Gaming worth $7,531,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parkside Financial Bank & Trust boosted its holdings in shares of Boyd Gaming by 105.5% in the third quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock valued at $25,000 after acquiring an additional 211 shares in the last quarter. Belpointe Asset Management LLC boosted its holdings in Boyd Gaming by 237.6% during the first quarter. Belpointe Asset Management LLC now owns 655 shares of the company’s stock worth $42,000 after buying an additional 461 shares in the last quarter. Quarry LP boosted its holdings in Boyd Gaming by 130.3% during the first quarter. Quarry LP now owns 822 shares of the company’s stock worth $53,000 after buying an additional 465 shares in the last quarter. Allworth Financial LP boosted its holdings in Boyd Gaming by 3,333.3% during the fourth quarter. Allworth Financial LP now owns 1,030 shares of the company’s stock worth $64,000 after buying an additional 1,000 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in Boyd Gaming during the first quarter worth about $86,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Insider Activity

In related news, VP William R. Boyd sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $64.04, for a total transaction of $3,202,000.00. Following the completion of the transaction, the vice president now owns 1,617,970 shares of the company’s stock, valued at $103,614,798.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP William R. Boyd sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $64.04, for a total transaction of $3,202,000.00. Following the completion of the transaction, the vice president now owns 1,617,970 shares of the company’s stock, valued at $103,614,798.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder William S. Boyd sold 125,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $63.77, for a total transaction of $7,971,250.00. Following the transaction, the insider now directly owns 9,358,913 shares of the company’s stock, valued at approximately $596,817,882.01. The disclosure for this sale can be found here. Insiders sold a total of 582,910 shares of company stock valued at $37,299,461 over the last 90 days. Insiders own 28.40% of the company’s stock.

Boyd Gaming Stock Performance

NYSE:BYD opened at $65.42 on Friday. The firm has a 50 day simple moving average of $64.44 and a 200-day simple moving average of $61.79. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.89 and a quick ratio of 0.85. The firm has a market cap of $6.26 billion, a PE ratio of 10.72, a P/E/G ratio of 3.05 and a beta of 1.60. Boyd Gaming Co. has a 1-year low of $52.42 and a 1-year high of $73.00.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The business had revenue of $954.41 million during the quarter, compared to analyst estimates of $928.04 million. Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.72 earnings per share. On average, equities analysts expect that Boyd Gaming Co. will post 6.21 EPS for the current year.

Boyd Gaming Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 15th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Thursday, March 14th. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.16. Boyd Gaming’s payout ratio is currently 11.15%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BYD. JPMorgan Chase & Co. boosted their price objective on shares of Boyd Gaming from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Morgan Stanley boosted their price objective on shares of Boyd Gaming from $71.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday. Wells Fargo & Company boosted their price objective on shares of Boyd Gaming from $81.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Truist Financial upped their price target on shares of Boyd Gaming from $76.00 to $80.00 and gave the company a “buy” rating in a report on Friday, February 9th. Finally, StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $76.30.

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.