Public Employees Retirement System of Ohio Purchases 875 Shares of Boyd Gaming Co. (NYSE:BYD)

Public Employees Retirement System of Ohio boosted its holdings in Boyd Gaming Co. (NYSE:BYD) by 3.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 28,222 shares of the company’s stock after buying an additional 875 shares during the period. Public Employees Retirement System of Ohio’s holdings in Boyd Gaming were worth $1,825,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ariel Investments LLC lifted its holdings in shares of Boyd Gaming by 12.5% in the second quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock worth $167,046,000 after buying an additional 335,984 shares in the last quarter. State Street Corp lifted its stake in Boyd Gaming by 0.8% in the 3rd quarter. State Street Corp now owns 2,108,672 shares of the company’s stock worth $136,680,000 after purchasing an additional 17,591 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Boyd Gaming by 19.7% during the 2nd quarter. American Century Companies Inc. now owns 1,149,701 shares of the company’s stock valued at $63,349,000 after purchasing an additional 189,226 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Boyd Gaming by 5.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 971,921 shares of the company’s stock valued at $62,835,000 after purchasing an additional 54,128 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Boyd Gaming by 6,158.8% in the third quarter. Victory Capital Management Inc. now owns 908,905 shares of the company’s stock worth $58,761,000 after purchasing an additional 894,383 shares during the last quarter. 76.81% of the stock is owned by institutional investors.

Boyd Gaming Trading Down 4.2 %

Shares of BYD opened at $70.81 on Thursday. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 9.93 and a beta of 1.54. The company has a 50-day moving average of $70.85 and a 200 day moving average of $62.65. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $76.73. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79.

Boyd Gaming announced that its board has approved a stock repurchase plan on Thursday, December 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Boyd Gaming Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, December 16th. This represents a $0.68 annualized dividend and a dividend yield of 0.96%. Boyd Gaming’s dividend payout ratio is currently 12.98%.

Insiders Place Their Bets

In related news, CFO Josh Hirsberg sold 21,549 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $71.43, for a total value of $1,539,245.07. Following the completion of the transaction, the chief financial officer now directly owns 438,615 shares of the company’s stock, valued at $31,330,269.45. This trade represents a 4.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William R. Boyd sold 25,155 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $69.35, for a total transaction of $1,744,499.25. Following the completion of the transaction, the director now directly owns 1,487,970 shares of the company’s stock, valued at approximately $103,190,719.50. This represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,364 shares of company stock worth $10,590,893 in the last three months. Corporate insiders own 27.94% of the company’s stock.

Analysts Set New Price Targets

BYD has been the topic of a number of research reports. Barclays lifted their price objective on Boyd Gaming from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on shares of Boyd Gaming from $69.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Truist Financial increased their price objective on shares of Boyd Gaming from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Morgan Stanley upped their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company lifted their price target on Boyd Gaming from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Boyd Gaming presently has a consensus rating of “Moderate Buy” and an average target price of $91.64.

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.