Boyd Gaming Co. (NYSE:BYD) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its holdings in Boyd Gaming Co. (NYSE:BYD - Free Report) by 64.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,649 shares of the company's stock after selling 10,128 shares during the quarter. Teacher Retirement System of Texas' holdings in Boyd Gaming were worth $410,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Boston Partners raised its stake in Boyd Gaming by 36.9% during the 4th quarter. Boston Partners now owns 3,955,544 shares of the company's stock worth $287,185,000 after acquiring an additional 1,065,887 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Boyd Gaming during the fourth quarter worth about $43,273,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Boyd Gaming by 226.5% in the 4th 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 last quarter. Weiss Asset Management LP acquired a new stake in shares of Boyd Gaming in the 3rd quarter valued at about $7,101,000. Finally, Sequoia Financial Advisors LLC purchased a new position in Boyd Gaming during the 4th quarter worth approximately $6,066,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Boyd Gaming

In related news, Director Christine J. Spadafor sold 1,125 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $75.28, for a total transaction of $84,690.00. Following the sale, the director now owns 4,852 shares of the company's stock, valued at $365,258.56. This trade represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William R. Boyd sold 15,000 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the completion of the transaction, the director now directly owns 1,472,970 shares of the company's stock, valued at $116,835,980.40. The trade was a 1.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,125 shares of company stock valued at $5,158,490. 21.97% of the stock is owned by corporate insiders.

Remove Ads

Boyd Gaming Price Performance

NYSE BYD traded down $1.55 during mid-day trading on Friday, hitting $61.81. The stock had a trading volume of 1,415,144 shares, compared to its average volume of 959,722. The company has a 50 day simple moving average of $72.67 and a 200 day simple moving average of $71.12. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The company has a market cap of $5.10 billion, a price-to-earnings ratio of 9.94, a P/E/G ratio of 4.46 and a beta of 1.55. Boyd Gaming Co. has a 52-week low of $49.34 and a 52-week high of $80.50.

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

Boyd Gaming Increases Dividend

The business 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 dividend of $0.18 per share. This is an increase from Boyd Gaming's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Monday, March 17th. Boyd Gaming's payout ratio is currently 11.58%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BYD shares. Barclays raised their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. JMP Securities restated a "market perform" rating on shares of Boyd Gaming in a research note on Friday, February 7th. Jefferies Financial Group upgraded shares of Boyd Gaming from a "hold" rating to a "buy" rating and increased their target price for the stock from $73.00 to $92.00 in a research note on Friday, January 3rd. Susquehanna upgraded Boyd Gaming from a "neutral" rating to a "positive" rating and dropped their price target for the company from $79.00 to $77.00 in a research report on Wednesday, March 12th. Finally, StockNews.com cut Boyd Gaming from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 27th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $95.00.

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.