Boyd Gaming Co. (NYSE:BYD) Shares Acquired by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp grew its holdings in shares of Boyd Gaming Co. (NYSE:BYD) by 1.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 60,810 shares of the company’s stock after acquiring an additional 786 shares during the quarter. Texas Permanent School Fund Corp owned about 0.06% of Boyd Gaming worth $4,094,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Cascade Investment Advisors Inc. acquired a new position in Boyd Gaming during the 1st quarter worth $1,220,000. Deutsche Bank AG boosted its position in Boyd Gaming by 23.3% during the 3rd quarter. Deutsche Bank AG now owns 230,397 shares of the company’s stock worth $14,015,000 after acquiring an additional 43,578 shares during the period. III Capital Management boosted its position in Boyd Gaming by 300.0% during the 4th quarter. III Capital Management now owns 40,000 shares of the company’s stock worth $2,504,000 after acquiring an additional 30,000 shares during the period. Retirement Systems of Alabama boosted its position in Boyd Gaming by 14.8% during the 1st quarter. Retirement Systems of Alabama now owns 223,978 shares of the company’s stock worth $15,078,000 after acquiring an additional 28,844 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Boyd Gaming during the 4th quarter worth $117,720,000. Institutional investors and hedge funds own 76.81% of the company’s stock.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,874 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $53.38, for a total value of $100,034.12. Following the transaction, the director now owns 2,338 shares in the company, valued at $124,802.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 27.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BYD. Truist Financial dropped their price objective on Boyd Gaming from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Wells Fargo & Company dropped their price objective on Boyd Gaming from $82.00 to $71.00 and set an “overweight” rating on the stock 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. StockNews.com downgraded Boyd Gaming from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th. Finally, Stifel Nicolaus dropped their price objective on Boyd Gaming from $71.00 to $65.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Boyd Gaming currently has an average rating of “Hold” and an average target price of $90.92.

Boyd Gaming Stock Up 0.9 %

NYSE:BYD opened at $57.32 on Friday. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 10.29 and a beta of 1.58. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $73.00. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.61. The business’s fifty day moving average price is $53.90 and its 200 day moving average price is $60.02.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.06). The business had revenue of $960.52 million for the quarter, compared to analyst estimates of $947.26 million. Boyd Gaming had a net margin of 14.91% and a return on equity of 34.76%. On average, sell-side analysts forecast that Boyd Gaming Co. will post 6.06 earnings per share for the current fiscal year.

Boyd Gaming announced that its Board of Directors has authorized a stock repurchase plan on Monday, May 13th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 9.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Saturday, June 15th will be paid a $0.17 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.19%. Boyd Gaming’s dividend payout ratio (DPR) is currently 12.21%.

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.