Teacher Retirement System of Texas raised its position in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) by 85.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,453 shares of the company's stock after purchasing an additional 4,804 shares during the period. Teacher Retirement System of Texas' holdings in Boyd Gaming were worth $688,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also made changes to their positions in BYD. Oppenheimer & Co. Inc. purchased a new position in shares of Boyd Gaming in the 1st quarter worth approximately $598,000. Raymond James Financial Inc. purchased a new stake in shares of Boyd Gaming during the 4th quarter valued at $43,273,000. Assenagon Asset Management S.A. purchased a new position in Boyd Gaming during the 1st quarter worth $1,963,000. SG Americas Securities LLC acquired a new position in Boyd Gaming during the 1st quarter valued at about $805,000. Finally, Ameriprise Financial Inc. boosted its holdings in Boyd Gaming by 19.1% in the fourth quarter. Ameriprise Financial Inc. now owns 193,768 shares of the company's stock worth $14,057,000 after acquiring an additional 31,130 shares in the last quarter. 76.81% of the stock is currently owned by hedge funds and other institutional investors.
Boyd Gaming Stock Up 1.7%
Shares of NYSE:BYD traded up $1.42 during trading on Thursday, hitting $83.11. 527,690 shares of the company were exchanged, compared to its average volume of 943,941. The stock has a market capitalization of $6.77 billion, a P/E ratio of 13.55, a PEG ratio of 2.90 and a beta of 1.26. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.80 and a quick ratio of 0.76. Boyd Gaming Corporation has a 12-month low of $52.76 and a 12-month high of $87.76. The firm's 50 day moving average price is $76.69 and its 200-day moving average price is $73.07.
Boyd Gaming (NYSE:BYD - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.10. Boyd Gaming had a net margin of 13.96% and a return on equity of 38.34%. The company had revenue of $991.57 million for the quarter, compared to analyst estimates of $976.38 million. During the same period in the prior year, the business posted $1.51 earnings per share. The firm's revenue for the quarter was up 3.2% compared to the same quarter last year. On average, research analysts predict that Boyd Gaming Corporation will post 6.52 earnings per share for the current fiscal year.
Boyd Gaming Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th were issued a dividend of $0.18 per share. The ex-dividend date was Monday, June 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.87%. Boyd Gaming's payout ratio is 11.75%.
Analysts Set New Price Targets
A number of research firms recently commented on BYD. Macquarie reiterated a "neutral" rating and issued a $74.00 target price on shares of Boyd Gaming in a research note on Friday, April 25th. Morgan Stanley reaffirmed a "sell" rating on shares of Boyd Gaming in a research report on Friday, July 11th. Barclays reduced their price objective on Boyd Gaming from $78.00 to $73.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Truist Financial lifted their price objective on shares of Boyd Gaming from $85.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Mizuho reduced their target price on shares of Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $83.77.
Read Our Latest Stock Report on BYD
About Boyd Gaming
(
Free Report)
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.
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