Boyd Gaming Co. (NYSE:BYD) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its position in Boyd Gaming Co. (NYSE:BYD) by 17.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,800 shares of the company’s stock after acquiring an additional 6,448 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Boyd Gaming were worth $2,680,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust boosted its position in Boyd Gaming by 105.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock valued at $25,000 after purchasing an additional 211 shares during the period. Rakuten Securities Inc. acquired a new position in Boyd Gaming during the 4th quarter valued at approximately $30,000. Allworth Financial LP boosted its position in Boyd Gaming by 3,333.3% during the 4th quarter. Allworth Financial LP now owns 1,030 shares of the company’s stock valued at $64,000 after purchasing an additional 1,000 shares during the period. Blue Trust Inc. boosted its position in Boyd Gaming by 20,342.9% during the 4th quarter. Blue Trust Inc. now owns 1,431 shares of the company’s stock valued at $87,000 after purchasing an additional 1,424 shares during the period. Finally, Knights of Columbus Asset Advisors LLC boosted its position in Boyd Gaming by 37.1% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 1,882 shares of the company’s stock valued at $118,000 after purchasing an additional 509 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

Boyd Gaming Stock Down 0.8 %

Shares of Boyd Gaming stock opened at $53.53 on Wednesday. The stock’s fifty day moving average is $63.80 and its 200-day moving average is $61.99. The firm has a market capitalization of $5.12 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 2.49 and a beta of 1.60. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 1.65. Boyd Gaming Co. has a 12-month low of $52.42 and a 12-month high of $73.00.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, February 8th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.23. The company had revenue of $954.41 million for the quarter, compared to analyst estimates of $928.04 million. Boyd Gaming had a return on equity of 34.77% and a net margin of 14.91%. Boyd Gaming’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.72 earnings per share. Equities analysts anticipate that Boyd Gaming Co. will post 6.2 earnings per share for the current year.

Boyd Gaming Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.27%. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, March 14th. Boyd Gaming’s payout ratio is presently 12.21%.

Insider Activity at Boyd Gaming

In related news, major shareholder William S. Boyd sold 63,464 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the transaction, the insider now directly owns 8,795,449 shares of the company’s stock, valued at $555,168,740.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder William S. Boyd sold 63,464 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the transaction, the insider now directly owns 8,795,449 shares of the company’s stock, valued at $555,168,740.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Keith Smith sold 75,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $63.92, for a total value of $4,794,000.00. Following the transaction, the chief executive officer now directly owns 1,119,625 shares in the company, valued at $71,566,430. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 582,910 shares of company stock valued at $37,299,461. Company insiders own 28.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Truist Financial reduced their price target on Boyd Gaming from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Morgan Stanley boosted their price target on Boyd Gaming from $71.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft downgraded Boyd Gaming from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $78.00 to $71.00 in a research note on Friday, April 26th. Mizuho dropped their price objective on Boyd Gaming from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Finally, Barclays dropped their price objective on Boyd Gaming from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $72.20.

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.