New York State Teachers Retirement System Cuts Holdings in Boyd Gaming Corporation (NYSE:BYD)

New York State Teachers Retirement System decreased its position in shares of Boyd Gaming Corporation (NYSE:BYD) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,995 shares of the company’s stock after selling 4,790 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of Boyd Gaming worth $4,871,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BYD. CoreCap Advisors LLC lifted its holdings in shares of Boyd Gaming by 91.0% in the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company’s stock valued at $42,000 after acquiring an additional 273 shares during the last quarter. GAMMA Investing LLC grew its position in Boyd Gaming by 68.0% in the first quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock worth $51,000 after acquiring an additional 313 shares in the last quarter. UMB Bank n.a. grew its position in Boyd Gaming by 156.0% in the first quarter. UMB Bank n.a. now owns 1,006 shares of the company’s stock worth $66,000 after acquiring an additional 613 shares in the last quarter. Investment Counsel Co. of Nevada purchased a new position in Boyd Gaming in the fourth quarter worth about $73,000. Finally, Golden State Wealth Management LLC grew its position in Boyd Gaming by 76.9% in the first quarter. Golden State Wealth Management LLC now owns 1,636 shares of the company’s stock worth $108,000 after acquiring an additional 711 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Stock Performance

Boyd Gaming stock opened at $81.57 on Monday. The company has a 50 day moving average price of $74.71 and a 200-day moving average price of $72.50. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.76 and a current ratio of 0.80. Boyd Gaming Corporation has a fifty-two week low of $52.76 and a fifty-two week high of $82.21. The company has a market capitalization of $6.64 billion, a PE ratio of 13.31, a P/E/G ratio of 2.94 and a beta of 1.26.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.10. Boyd Gaming had a net margin of 13.96% and a return on equity of 38.34%. The firm had revenue of $991.57 million during the quarter, compared to the consensus estimate of $976.38 million. During the same quarter in the previous year, the firm posted $1.51 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. As a group, equities analysts forecast that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, June 16th. Boyd Gaming’s dividend payout ratio is presently 11.75%.

Wall Street Analysts Forecast Growth

BYD has been the subject of several recent research reports. Morgan Stanley dropped their price target on Boyd Gaming from $75.00 to $72.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. initiated coverage on Boyd Gaming in a research report on Monday, June 23rd. They issued a “neutral” rating and a $79.00 price target for the company. Truist Financial dropped their price target on Boyd Gaming from $92.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Macquarie reiterated a “neutral” rating and issued a $74.00 price target on shares of Boyd Gaming in a research report on Friday, April 25th. Finally, Susquehanna raised their price objective on shares of Boyd Gaming from $75.00 to $76.00 and gave the stock a “positive” rating in a research note on Friday, April 25th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.38.

About Boyd Gaming

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.