Boyd Gaming Co. (NYSE:BYD) Holdings Decreased by Strs Ohio

Strs Ohio reduced its holdings in Boyd Gaming Co. (NYSE:BYD) by 2.0% in the 4th quarter, Holdings Channel reports. The fund owned 147,110 shares of the company’s stock after selling 2,991 shares during the period. Strs Ohio’s holdings in Boyd Gaming were worth $9,210,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of BYD. Parkside Financial Bank & Trust grew its position in Boyd Gaming by 105.5% during the third quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock valued at $25,000 after purchasing an additional 211 shares in the last quarter. Belpointe Asset Management LLC raised its holdings in shares of Boyd Gaming by 237.6% during the first quarter. Belpointe Asset Management LLC now owns 655 shares of the company’s stock worth $42,000 after acquiring an additional 461 shares in the last quarter. Quarry LP boosted its position in Boyd Gaming by 130.3% during the first quarter. Quarry LP now owns 822 shares of the company’s stock valued at $53,000 after purchasing an additional 465 shares during the last quarter. Allworth Financial LP grew its stake in Boyd Gaming by 3,333.3% in the fourth quarter. Allworth Financial LP now owns 1,030 shares of the company’s stock valued at $64,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in Boyd Gaming in the 1st quarter worth about $86,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Stock Down 1.5 %

Shares of BYD stock opened at $63.68 on Thursday. Boyd Gaming Co. has a one year low of $52.42 and a one year high of $73.00. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.89 and a quick ratio of 0.85. The stock has a fifty day moving average price of $64.47 and a 200 day moving average price of $61.91. The stock has a market cap of $6.10 billion, a P/E ratio of 10.44, a price-to-earnings-growth ratio of 3.03 and a beta of 1.60.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, February 8th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.23. Boyd Gaming had a return on equity of 36.97% and a net margin of 16.58%. The business had revenue of $954.41 million during the quarter, compared to analysts’ expectations of $928.04 million. During the same period in the prior year, the firm posted $1.72 EPS. Boyd Gaming’s quarterly revenue was up 3.4% compared to the same quarter last year. Analysts predict that Boyd Gaming Co. will post 6.18 earnings per share for the current year.

Boyd Gaming Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a $0.17 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.07%. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.16. Boyd Gaming’s payout ratio is 11.15%.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, major shareholder William S. Boyd sold 63,464 shares of Boyd Gaming stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total value of $4,005,847.68. Following the completion of the transaction, the insider now owns 8,795,449 shares in the company, valued at approximately $555,168,740.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 77,661 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $64.87, for a total value of $5,037,869.07. Following the completion of the sale, the chairman now owns 1,511,433 shares in the company, valued at approximately $98,046,658.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder William S. Boyd sold 63,464 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the completion of the transaction, the insider now directly owns 8,795,449 shares of the company’s stock, valued at $555,168,740.88. The disclosure for this sale can be found here. Insiders have sold 582,910 shares of company stock valued at $37,299,461 in the last three months. 28.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BYD shares. StockNews.com upgraded Boyd Gaming from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Susquehanna reissued a “neutral” rating and set a $75.00 target price (down from $84.00) on shares of Boyd Gaming in a research report on Monday, February 12th. JPMorgan Chase & Co. lifted their price target on shares of Boyd Gaming from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Mizuho began coverage on Boyd Gaming in a research report on Tuesday, March 26th. They set a “buy” rating and a $80.00 price objective for the company. Finally, Truist Financial upped their price target on Boyd Gaming from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $76.30.

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.