New York State Common Retirement Fund lessened its position in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 3.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 387,698 shares of the company's stock after selling 14,886 shares during the period. New York State Common Retirement Fund owned about 0.44% of Boyd Gaming worth $28,124,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. UMB Bank n.a. grew its stake in shares of Boyd Gaming by 80.3% during the fourth quarter. UMB Bank n.a. now owns 393 shares of the company's stock worth $29,000 after purchasing an additional 175 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Boyd Gaming by 47.4% during the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company's stock worth $33,000 after acquiring an additional 148 shares in the last quarter. Covestor Ltd increased its holdings in shares of Boyd Gaming by 54.9% in the 3rd quarter. Covestor Ltd now owns 587 shares of the company's stock valued at $38,000 after acquiring an additional 208 shares during the last quarter. Quarry LP increased its holdings in shares of Boyd Gaming by 150.1% in the 3rd quarter. Quarry LP now owns 873 shares of the company's stock valued at $56,000 after acquiring an additional 524 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Boyd Gaming by 921.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 889 shares of the company's stock worth $57,000 after acquiring an additional 802 shares in the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have commented on the stock. Susquehanna increased their price target on shares of Boyd Gaming from $69.00 to $77.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. JMP Securities reaffirmed a "market perform" rating on shares of Boyd Gaming in a research report on Friday, February 7th. StockNews.com raised shares of Boyd Gaming from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. Jefferies Financial Group upgraded shares of Boyd Gaming from a "hold" rating to a "buy" rating and upped their price objective for the company from $73.00 to $92.00 in a research note on Friday, January 3rd. Finally, Argus upgraded Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 target price on the stock in a research report on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $95.00.
Get Our Latest Stock Report on BYD
Boyd Gaming Stock Performance
Shares of NYSE:BYD traded down $2.56 during trading on Friday, reaching $76.86. The company had a trading volume of 711,691 shares, compared to its average volume of 949,761. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. The stock's fifty day moving average price is $74.73 and its 200 day moving average price is $68.69. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $80.50. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 4.47 and a beta of 1.54.
Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. As a group, equities research analysts predict that Boyd Gaming Co. will post 6.52 EPS for the current year.
Boyd Gaming Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a $0.18 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.72 dividend on an annualized basis and a yield of 0.94%. This is an increase from Boyd Gaming's previous quarterly dividend of $0.17. Boyd Gaming's dividend payout ratio (DPR) is presently 10.93%.
Boyd Gaming announced that its Board of Directors has approved a stock buyback program on Thursday, December 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.
Insider Buying and Selling at Boyd Gaming
In other Boyd Gaming news, Director Christine J. Spadafor sold 660 shares of the business's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $75.68, for a total transaction of $49,948.80. Following the sale, the director now directly owns 5,977 shares in the company, valued at approximately $452,339.36. The trade was a 9.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Boyd sold 15,000 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the transaction, the director now directly owns 1,472,970 shares in the company, valued at approximately $116,835,980.40. This trade represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,660 shares of company stock valued at $5,123,749. 27.94% of the stock is owned by corporate insiders.
Boyd Gaming Profile
(
Free Report)
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.
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