Illinois Municipal Retirement Fund Boosts Stake in Boyd Gaming Corporation $BYD

Illinois Municipal Retirement Fund raised its position in Boyd Gaming Corporation (NYSE:BYD) by 29.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,808 shares of the company’s stock after purchasing an additional 14,383 shares during the quarter. Illinois Municipal Retirement Fund owned 0.08% of Boyd Gaming worth $4,992,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BYD. ProShare Advisors LLC acquired a new stake in shares of Boyd Gaming in the second quarter valued at $212,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Boyd Gaming during the 2nd quarter worth about $973,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Boyd Gaming by 219.8% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock valued at $29,000 after acquiring an additional 255 shares during the period. Fox Run Management L.L.C. acquired a new position in Boyd Gaming in the 2nd quarter valued at about $563,000. Finally, Cetera Trust Company N.A grew its position in Boyd Gaming by 9.1% in the 2nd quarter. Cetera Trust Company N.A now owns 3,855 shares of the company’s stock valued at $302,000 after acquiring an additional 320 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BYD shares. Stifel Nicolaus increased their price target on shares of Boyd Gaming from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, July 25th. Macquarie reaffirmed a “neutral” rating and set a $90.00 price objective on shares of Boyd Gaming in a research report on Friday, October 24th. Morgan Stanley lifted their target price on Boyd Gaming from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Mizuho increased their price target on Boyd Gaming from $89.00 to $99.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Finally, Truist Financial boosted their price objective on Boyd Gaming from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Seven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $90.08.

Insider Transactions at Boyd Gaming

In related news, Director William R. Boyd sold 20,000 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $80.36, for a total value of $1,607,200.00. Following the completion of the sale, the director directly owned 1,960,447 shares of the company’s stock, valued at $157,541,520.92. This represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Marianne Boyd Johnson sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $86.62, for a total value of $8,662,000.00. Following the transaction, the chairman owned 1,704,379 shares in the company, valued at $147,633,308.98. This represents a 5.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 260,035 shares of company stock valued at $22,071,089 over the last quarter. Company insiders own 21.97% of the company’s stock.

Boyd Gaming Stock Down 0.6%

Shares of NYSE:BYD opened at $80.88 on Thursday. The firm has a 50 day simple moving average of $83.06 and a 200-day simple moving average of $80.37. Boyd Gaming Corporation has a twelve month low of $58.94 and a twelve month high of $88.49. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53. The company has a market capitalization of $6.32 billion, a PE ratio of 3.53, a P/E/G ratio of 2.02 and a beta of 1.31.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Tuesday, April 11th. The company reported $1.35 EPS for the quarter. Boyd Gaming had a net margin of 46.02% and a return on equity of 41.97%. The firm had revenue of $707.32 million for the quarter. On average, equities analysts predict that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

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.