29,450 Shares in Boyd Gaming Corporation $BYD Bought by Strs Ohio

Key Points

• Strs Ohio has acquired 29,450 shares of Boyd Gaming Corporation, valued at approximately $1.93 million, signaling growing institutional interest in the gaming sector.
• Boyd Gaming recently posted earnings of $1.87 per share, surpassing analyst expectations and reporting a revenue increase to $1.03 billion for the quarter.
• The company declared a quarterly dividend of $0.18 per share, with a low annualized yield of 0.9% and a dividend payout ratio of 11.08%, reflecting a stable return for investors.

Strs Ohio acquired a new position in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 29,450 shares of the company's stock, valued at approximately $1,939,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BYD. Advisors Asset Management Inc. boosted its position in shares of Boyd Gaming by 56.8% during the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company's stock worth $36,000 after purchasing an additional 196 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Boyd Gaming by 68.0% during the 1st quarter. GAMMA Investing LLC now owns 773 shares of the company's stock worth $51,000 after purchasing an additional 313 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Boyd Gaming by 156.0% in the 1st quarter. UMB Bank n.a. now owns 1,006 shares of the company's stock worth $66,000 after acquiring an additional 613 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Boyd Gaming by 28.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,210 shares of the company's stock worth $80,000 after acquiring an additional 265 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of Boyd Gaming by 76.9% in the 1st quarter. Golden State Wealth Management LLC now owns 1,636 shares of the company's stock worth $108,000 after acquiring an additional 711 shares during the last quarter. Institutional investors own 76.81% of the company's stock.

Insider Activity at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 100,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $84.17, for a total transaction of $8,417,000.00. Following the sale, the chairman owned 1,504,379 shares of the company's stock, valued at $126,623,580.43. The trade was a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Keith Smith sold 50,000 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $83.09, for a total transaction of $4,154,500.00. Following the sale, the chief executive officer directly owned 1,096,689 shares in the company, valued at $91,123,889.01. The trade was a 4.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 385,438 shares of company stock valued at $32,638,085 over the last three months. Corporate insiders own 27.94% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BYD. Barclays upped their target price on shares of Boyd Gaming from $73.00 to $87.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Macquarie increased their price objective on shares of Boyd Gaming from $74.00 to $88.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Truist Financial raised their price target on shares of Boyd Gaming from $85.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Morgan Stanley restated a "sell" rating on shares of Boyd Gaming in a research note on Friday, July 11th. Finally, Stifel Nicolaus raised their price target on shares of Boyd Gaming from $87.00 to $90.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $87.83.

Boyd Gaming Trading Down 0.1%

Shares of BYD stock traded down $0.07 during mid-day trading on Friday, reaching $83.23. The stock had a trading volume of 1,326,476 shares, compared to its average volume of 775,583. The stock's 50-day moving average price is $84.17 and its two-hundred day moving average price is $75.95. Boyd Gaming Corporation has a 52-week low of $58.94 and a 52-week high of $87.83. The firm has a market capitalization of $6.67 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 2.36 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.20. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. The company had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $976.81 million. During the same quarter in the previous year, the company earned $1.58 earnings per share. Boyd Gaming's quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts expect that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a dividend of $0.18 per share. The ex-dividend date is Monday, September 15th. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. Boyd Gaming's payout ratio is currently 11.08%.

Boyd Gaming 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.