Strs Ohio Purchases Shares of 29,450 Boyd Gaming Corporation $BYD

Strs Ohio acquired a new stake in Boyd Gaming Corporation (NYSE:BYD) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 29,450 shares of the company’s stock, valued at approximately $1,939,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cetera Investment Advisers lifted its position in Boyd Gaming by 247.3% during the 4th quarter. Cetera Investment Advisers now owns 15,976 shares of the company’s stock worth $1,159,000 after acquiring an additional 11,376 shares in the last quarter. ProShare Advisors LLC bought a new stake in shares of Boyd Gaming in the 4th quarter valued at approximately $225,000. State of Wyoming increased its holdings in shares of Boyd Gaming by 253.1% in the 4th quarter. State of Wyoming now owns 5,597 shares of the company’s stock valued at $406,000 after acquiring an additional 4,012 shares during the last quarter. WBI Investments LLC increased its holdings in shares of Boyd Gaming by 440.7% in the 4th quarter. WBI Investments LLC now owns 38,257 shares of the company’s stock valued at $2,775,000 after acquiring an additional 31,182 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Boyd Gaming by 25.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 159,571 shares of the company’s stock worth $11,575,000 after buying an additional 32,020 shares during the last quarter. 76.81% of the stock is owned by institutional investors and hedge funds.

Boyd Gaming Stock Performance

Shares of BYD stock opened at $83.51 on Tuesday. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.86 and a quick ratio of 0.82. Boyd Gaming Corporation has a fifty-two week low of $58.94 and a fifty-two week high of $87.83. The stock’s 50-day moving average is $84.15 and its two-hundred day moving average is $75.72. The firm has a market cap of $6.70 billion, a P/E ratio of 12.85, a PEG ratio of 2.39 and a beta of 1.23.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, July 24th. The company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.20. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%.The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $976.81 million. During the same period in the prior year, the firm posted $1.58 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. Analysts predict that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. Boyd Gaming’s dividend payout ratio is currently 11.08%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Stifel Nicolaus boosted their price target on Boyd Gaming from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, July 25th. Barclays upped their price objective on Boyd Gaming from $73.00 to $87.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. JPMorgan Chase & Co. began coverage on Boyd Gaming in a report on Monday, June 23rd. They issued a “neutral” rating and a $79.00 price objective for the company. Raymond James Financial restated an “outperform” rating on shares of Boyd Gaming in a report on Monday, September 8th. Finally, Mizuho upped their price objective on Boyd Gaming from $86.00 to $89.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $86.62.

Insider Buying and Selling at Boyd Gaming

In other news, insider Stephen S. Thompson sold 15,906 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $83.25, for a total transaction of $1,324,174.50. Following the transaction, the insider owned 38,609 shares of the company’s stock, valued at approximately $3,214,199.25. This represents a 29.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Keith Smith sold 50,000 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $83.09, for a total value of $4,154,500.00. Following the transaction, the chief executive officer directly owned 1,096,689 shares in the company, valued at approximately $91,123,889.01. This represents a 4.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 385,438 shares of company stock worth $32,638,085 in the last 90 days. Company insiders own 21.97% of the company’s stock.

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.