Texas Permanent School Fund Corp Sells 40,205 Shares of Boyd Gaming Co. (NYSE:BYD)

Texas Permanent School Fund Corp reduced its holdings in Boyd Gaming Co. (NYSE:BYD - Free Report) by 66.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,605 shares of the company's stock after selling 40,205 shares during the period. Texas Permanent School Fund Corp's holdings in Boyd Gaming were worth $1,135,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Cohen & Steers Inc. boosted its position in Boyd Gaming by 34.4% during the fourth quarter. Cohen & Steers Inc. now owns 4,747,662 shares of the company's stock valued at $297,270,000 after purchasing an additional 1,216,121 shares during the last quarter. Boston Partners lifted its holdings in shares of Boyd Gaming by 10.0% during the 1st quarter. Boston Partners now owns 3,031,091 shares of the company's stock valued at $203,276,000 after buying an additional 274,876 shares during the last quarter. Bamco Inc. NY grew its stake in shares of Boyd Gaming by 4.0% in the 1st quarter. Bamco Inc. NY now owns 1,899,344 shares of the company's stock valued at $127,864,000 after buying an additional 73,491 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Boyd Gaming by 0.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,002,438 shares of the company's stock worth $67,485,000 after buying an additional 3,087 shares during the last quarter. Finally, Frontier Capital Management Co. LLC raised its position in Boyd Gaming by 1.2% during the fourth quarter. Frontier Capital Management Co. LLC now owns 986,072 shares of the company's stock valued at $61,738,000 after acquiring an additional 11,794 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Boyd Gaming Stock Performance

Boyd Gaming stock traded down $0.11 during trading hours on Friday, hitting $64.03. The stock had a trading volume of 1,100,949 shares, compared to its average volume of 943,733. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $68.46. The company has a market cap of $6.07 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 8.56 and a beta of 1.57. The company has a 50-day moving average of $59.14 and a two-hundred day moving average of $58.46. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 1.70.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.49 by $0.09. Boyd Gaming had a return on equity of 34.29% and a net margin of 13.32%. The firm had revenue of $967.50 million during the quarter, compared to analysts' expectations of $909.49 million. During the same period last year, the business earned $1.58 earnings per share. Boyd Gaming's quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that Boyd Gaming Co. will post 6.25 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Sunday, September 15th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Friday, September 13th. Boyd Gaming's dividend payout ratio (DPR) is presently 12.21%.

Insiders Place Their Bets

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $60.36, for a total value of $74,967.12. Following the sale, the director now directly owns 1,096 shares in the company, valued at $66,154.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Marianne Boyd Johnson sold 73,130 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the sale, the chairman now directly owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction on Monday, August 26th. The shares were sold at an average price of $60.36, for a total value of $74,967.12. Following the completion of the transaction, the director now owns 1,096 shares of the company's stock, valued at approximately $66,154.56. The disclosure for this sale can be found here. Corporate insiders own 27.94% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Macquarie dropped their price target on shares of Boyd Gaming from $72.00 to $68.00 and set a "neutral" rating on the stock in a research note on Friday, July 26th. Stifel Nicolaus boosted their price target on Boyd Gaming from $65.00 to $67.00 and gave the stock a "hold" rating in a research report on Friday, July 26th. Bank of America increased their price objective on Boyd Gaming from $68.00 to $72.00 and gave the company a "buy" rating in a report on Tuesday. Morgan Stanley upgraded Boyd Gaming from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $66.00 to $74.00 in a report on Wednesday, September 4th. Finally, StockNews.com upgraded Boyd Gaming from a "hold" rating to a "buy" rating in a report on Monday, July 22nd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $89.31.

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.