Retirement Systems of Alabama Grows Stock Position in Boyd Gaming Co. (NYSE:BYD)

Retirement Systems of Alabama grew its position in shares of Boyd Gaming Co. (NYSE:BYD) by 37.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 195,134 shares of the company’s stock after acquiring an additional 52,972 shares during the period. Retirement Systems of Alabama’s holdings in Boyd Gaming were worth $12,217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BYD. Parkside Financial Bank & Trust increased its holdings in Boyd Gaming by 105.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock valued at $25,000 after purchasing an additional 211 shares during the period. Great Lakes Advisors LLC increased its stake in shares of Boyd Gaming by 3.7% during the third quarter. Great Lakes Advisors LLC now owns 5,971 shares of the company’s stock valued at $363,000 after buying an additional 213 shares during the period. Lmcg Investments LLC raised its holdings in shares of Boyd Gaming by 2.2% during the third quarter. Lmcg Investments LLC now owns 12,257 shares of the company’s stock valued at $746,000 after acquiring an additional 269 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in Boyd Gaming by 4.9% in the third quarter. Kestra Advisory Services LLC now owns 6,654 shares of the company’s stock worth $405,000 after acquiring an additional 308 shares during the period. Finally, AlphaMark Advisors LLC lifted its stake in Boyd Gaming by 5.0% in the third quarter. AlphaMark Advisors LLC now owns 7,566 shares of the company’s stock worth $460,000 after acquiring an additional 363 shares during the period. 76.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BYD has been the topic of a number of research reports. Barclays cut their target price on shares of Boyd Gaming from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Morgan Stanley raised their price target on shares of Boyd Gaming from $71.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Wells Fargo & Company lowered their price objective on Boyd Gaming from $82.00 to $71.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th. JPMorgan Chase & Co. lowered Boyd Gaming from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $80.00 to $67.00 in a report on Friday, April 26th. Finally, Argus cut Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $72.20.

Insider Transactions at Boyd Gaming

In related news, VP William R. Boyd sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $64.04, for a total transaction of $3,202,000.00. Following the completion of the transaction, the vice president now directly owns 1,617,970 shares in the company, valued at approximately $103,614,798.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Boyd Gaming news, VP William R. Boyd sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $64.04, for a total value of $3,202,000.00. Following the completion of the transaction, the vice president now directly owns 1,617,970 shares in the company, valued at $103,614,798.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Marianne Boyd Johnson sold 77,661 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $64.87, for a total transaction of $5,037,869.07. Following the completion of the sale, the chairman now directly owns 1,511,433 shares of the company’s stock, valued at $98,046,658.71. The disclosure for this sale can be found here. Insiders have sold 582,910 shares of company stock valued at $37,299,461 over the last quarter. 28.40% of the stock is currently owned by company insiders.

Boyd Gaming Price Performance

NYSE BYD opened at $53.36 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $5.11 billion, a P/E ratio of 9.55, a PEG ratio of 2.55 and a beta of 1.60. The company has a 50-day moving average price of $63.62 and a 200-day moving average price of $61.95. Boyd Gaming Co. has a 52 week low of $52.42 and a 52 week high of $73.00.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.23. The business had revenue of $954.41 million for the quarter, compared to the consensus estimate of $928.04 million. Boyd Gaming had a net margin of 14.91% and a return on equity of 34.77%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $1.72 earnings per share. Equities research analysts anticipate that Boyd Gaming Co. will post 6.13 earnings per share for the current year.

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a $0.17 dividend. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, March 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.27%. Boyd Gaming’s dividend payout ratio is presently 12.21%.

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.