VIRGINIA RETIREMENT SYSTEMS ET Al Takes $1.32 Million Position in Boyd Gaming Corporation $BYD

Key Points

• The Virginia Retirement Systems ET Al acquired a new stake in Boyd Gaming Corporation, purchasing 16,810 shares valued at approximately $1.32 million during the second quarter.
• Insider trading activity showed significant sales, including Director William R. Boyd selling nearly 9,774 shares for approximately $797,000 and Chairman Marianne Boyd Johnson selling 100,000 shares for about $8.66 million.
• Current price trends show Boyd Gaming shares opened at $83.05, with analysts giving it an average rating of "Hold" and a target price of $88.67.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Boyd Gaming Corporation (NYSE:BYD - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 16,810 shares of the company's stock, valued at approximately $1,315,000.

A number of other institutional investors also recently modified their holdings of BYD. Jacobs Levy Equity Management Inc. bought a new stake in shares of Boyd Gaming in the 1st quarter valued at $8,976,000. Victory Capital Management Inc. boosted its stake in shares of Boyd Gaming by 13.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,048,706 shares of the company's stock valued at $69,036,000 after purchasing an additional 122,822 shares during the last quarter. Gotham Asset Management LLC boosted its stake in shares of Boyd Gaming by 39.2% in the 1st quarter. Gotham Asset Management LLC now owns 346,787 shares of the company's stock valued at $22,829,000 after purchasing an additional 97,703 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Boyd Gaming by 870.3% during the second quarter. Allianz Asset Management GmbH now owns 99,940 shares of the company's stock worth $7,818,000 after acquiring an additional 89,640 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Boyd Gaming by 14.2% during the first quarter. Northern Trust Corp now owns 682,518 shares of the company's stock worth $44,930,000 after acquiring an additional 85,087 shares in the last quarter. 76.81% of the stock is owned by institutional investors.

Insider Activity

In other news, Director William R. Boyd sold 9,774 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $81.61, for a total transaction of $797,656.14. Following the sale, the director owned 15,188 shares in the company, valued at approximately $1,239,492.68. The trade was a 39.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Marianne Boyd Johnson sold 100,000 shares of the business's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $86.62, for a total value of $8,662,000.00. Following the completion of the transaction, the chairman directly owned 1,704,379 shares of the company's stock, valued at approximately $147,633,308.98. This trade represents a 5.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 385,438 shares of company stock worth $32,638,085. 27.94% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BYD shares. Susquehanna downgraded shares of Boyd Gaming from a "positive" rating to a "neutral" rating and upped their price objective for the stock from $76.00 to $86.00 in a report on Friday, July 11th. Morgan Stanley reiterated a "sell" rating on shares of Boyd Gaming in a report on Friday, July 11th. Weiss Ratings reiterated a "buy (b)" rating on shares of Boyd Gaming in a report on Wednesday, October 8th. Mizuho increased their target price on shares of Boyd Gaming from $86.00 to $89.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, Stifel Nicolaus increased their target price on shares of Boyd Gaming from $87.00 to $90.00 and gave the company a "hold" rating in a report on Friday, July 25th. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $88.67.

Boyd Gaming Price Performance

Shares of NYSE:BYD opened at $83.05 on Thursday. The company has a 50-day moving average price of $84.57 and a two-hundred day moving average price of $78.59. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.53. Boyd Gaming Corporation has a twelve month low of $58.94 and a twelve month high of $88.49. The firm has a market capitalization of $6.66 billion, a PE ratio of 12.78, a P/E/G ratio of 2.24 and a beta of 1.30.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share for the quarter. The business had revenue of $707.32 million for the quarter. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. Equities analysts forecast that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming Dividend Announcement

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

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.

Want to see what other hedge funds are holding BYD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boyd Gaming Corporation (NYSE:BYD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.