New York State Teachers Retirement System Has $4.84 Million Stock Holdings in Boyd Gaming Corporation $BYD

New York State Teachers Retirement System decreased its position in shares of Boyd Gaming Corporation (NYSE:BYD) by 19.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 56,730 shares of the company’s stock after selling 13,992 shares during the quarter. New York State Teachers Retirement System’s holdings in Boyd Gaming were worth $4,836,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its stake in shares of Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after purchasing an additional 196 shares during the period. First Horizon Corp acquired a new position in shares of Boyd Gaming in the 4th quarter valued at $41,000. Geneos Wealth Management Inc. lifted its stake in shares of Boyd Gaming by 139.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 619 shares of the company’s stock valued at $48,000 after purchasing an additional 361 shares during the period. Employees Retirement System of Texas acquired a new position in shares of Boyd Gaming in the 3rd quarter valued at $53,000. Finally, TD Private Client Wealth LLC lifted its stake in shares of Boyd Gaming by 84.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 686 shares of the company’s stock valued at $59,000 after purchasing an additional 314 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BYD. Barclays cut their price target on Boyd Gaming from $87.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Friday, April 24th. Susquehanna cut their price target on Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. JPMorgan Chase & Co. increased their price target on Boyd Gaming from $89.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Citigroup increased their price target on Boyd Gaming from $86.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Finally, Morgan Stanley reissued a “mixed” rating on shares of Boyd Gaming in a research note on Wednesday, April 8th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $92.08.

Boyd Gaming Stock Performance

Shares of Boyd Gaming stock opened at $85.33 on Thursday. The company has a market capitalization of $6.34 billion, a PE ratio of 3.74, a PEG ratio of 1.92 and a beta of 1.11. Boyd Gaming Corporation has a 12 month low of $69.01 and a 12 month high of $89.96. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The stock’s fifty day simple moving average is $84.07 and its 200 day simple moving average is $83.63.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.76 by ($0.16). The business had revenue of $997.36 million for the quarter, compared to analyst estimates of $1.04 billion. Boyd Gaming had a return on equity of 25.63% and a net margin of 44.84%.The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.62 EPS. On average, research analysts predict that Boyd Gaming Corporation will post 7.41 EPS for the current year.

Boyd Gaming Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 16th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, March 16th. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.18. Boyd Gaming’s dividend payout ratio (DPR) is 3.51%.

Boyd Gaming declared that its board has initiated a share buyback program on Thursday, April 23rd that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 7.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director William R. Boyd sold 30,000 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $84.84, for a total transaction of $2,545,200.00. Following the sale, the director owned 1,930,447 shares of the company’s stock, valued at approximately $163,779,123.48. This trade represents a 1.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Marianne Boyd Johnson sold 62,914 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $84.03, for a total value of $5,286,663.42. Following the transaction, the chairman owned 1,609,808 shares of the company’s stock, valued at approximately $135,272,166.24. This trade represents a 3.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 173,454 shares of company stock worth $14,680,814. 22.82% of the stock is owned by corporate insiders.

Boyd Gaming 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.