Illinois Municipal Retirement Fund Has $2.91 Million Stock Holdings in Boyd Gaming Co. (NYSE:BYD)

Illinois Municipal Retirement Fund increased its position in Boyd Gaming Co. (NYSE:BYD - Free Report) by 46.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,117 shares of the company's stock after buying an additional 12,752 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Boyd Gaming were worth $2,910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BYD. Rhumbline Advisers grew its holdings in shares of Boyd Gaming by 1.0% during the 4th quarter. Rhumbline Advisers now owns 185,714 shares of the company's stock worth $13,472,000 after purchasing an additional 1,797 shares during the period. Sanctuary Advisors LLC increased its holdings in Boyd Gaming by 25.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 47,369 shares of the company's stock valued at $3,062,000 after purchasing an additional 9,565 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Boyd Gaming by 226.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 202,824 shares of the company's stock valued at $14,569,000 after purchasing an additional 140,707 shares during the period. Weiss Asset Management LP acquired a new position in shares of Boyd Gaming during the third quarter worth about $7,101,000. Finally, Quadrature Capital Ltd boosted its position in shares of Boyd Gaming by 201.3% in the third quarter. Quadrature Capital Ltd now owns 49,951 shares of the company's stock worth $3,229,000 after buying an additional 33,374 shares during the period. Institutional investors and hedge funds own 76.81% of the company's stock.

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Boyd Gaming Trading Down 2.7 %

Shares of BYD stock traded down $2.09 on Monday, hitting $74.17. The stock had a trading volume of 818,986 shares, compared to its average volume of 932,497. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $80.50. The company has a fifty day moving average price of $75.15 and a two-hundred day moving average price of $69.74. The firm has a market cap of $6.21 billion, a P/E ratio of 11.92, a PEG ratio of 4.46 and a beta of 1.54. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. As a group, analysts forecast that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming declared that its Board of Directors has approved a stock buyback program on Thursday, December 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 7.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Boyd Gaming Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.18 per share. The ex-dividend date is Monday, March 17th. This is a positive change from Boyd Gaming's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 0.97%. Boyd Gaming's payout ratio is currently 11.58%.

Insider Activity

In related news, Director Christine J. Spadafor sold 660 shares of the business's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $75.68, for a total value of $49,948.80. Following the completion of the sale, the director now directly owns 5,977 shares in the company, valued at $452,339.36. The trade was a 9.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William R. Boyd sold 15,000 shares of Boyd Gaming stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total value of $1,189,800.00. Following the sale, the director now directly owns 1,472,970 shares of the company's stock, valued at $116,835,980.40. This represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,660 shares of company stock valued at $5,123,749. 27.94% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

BYD has been the topic of a number of analyst reports. Truist Financial lifted their price objective on shares of Boyd Gaming from $85.00 to $88.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Jefferies Financial Group upgraded Boyd Gaming from a "hold" rating to a "buy" rating and boosted their price target for the stock from $73.00 to $92.00 in a research note on Friday, January 3rd. Stifel Nicolaus increased their target price on Boyd Gaming from $74.00 to $82.00 and gave the company a "hold" rating in a research note on Friday, February 7th. Wells Fargo & Company lifted their price target on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Finally, Argus upgraded shares of Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 price objective on the stock in a research note on Tuesday, December 17th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $95.20.

Boyd Gaming Company Profile

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.