Louisiana State Employees Retirement System bought a new stake in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 19,500 shares of the company's stock, valued at approximately $1,221,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Parkside Financial Bank & Trust boosted its position in shares of Boyd Gaming by 105.5% in the third quarter. Parkside Financial Bank & Trust now owns 411 shares of the company's stock worth $25,000 after acquiring an additional 211 shares during the last quarter. Allworth Financial LP boosted its position in shares of Boyd Gaming by 3,333.3% in the fourth quarter. Allworth Financial LP now owns 1,030 shares of the company's stock worth $64,000 after acquiring an additional 1,000 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Boyd Gaming by 20,342.9% in the fourth quarter. Blue Trust Inc. now owns 1,431 shares of the company's stock worth $87,000 after acquiring an additional 1,424 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Boyd Gaming by 42.0% in the fourth quarter. Fifth Third Bancorp now owns 3,606 shares of the company's stock worth $226,000 after acquiring an additional 1,066 shares during the last quarter. Finally, Blueshift Asset Management LLC acquired a new position in Boyd Gaming during the third quarter valued at approximately $225,000. 76.81% of the stock is currently owned by hedge funds and other institutional investors.
Boyd Gaming Stock Up 0.5 %
Shares of NYSE:BYD traded up $0.34 during midday trading on Tuesday, reaching $63.58. The company had a trading volume of 712,978 shares, compared to its average volume of 735,245. 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's fifty day moving average price is $64.25 and its 200-day moving average price is $62.05. The stock has a market capitalization of $6.09 billion, a P/E ratio of 10.42, a PEG ratio of 2.93 and a beta of 1.60. Boyd Gaming Co. has a one year low of $52.42 and a one year high of $73.00.
Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly 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. The business had revenue of $954.41 million during the quarter, compared to analyst estimates of $928.04 million. Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. The business's revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.72 earnings per share. Equities research analysts expect that Boyd Gaming Co. will post 6.19 earnings per share for the current fiscal year.
Boyd Gaming Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Boyd Gaming's previous quarterly dividend of $0.16. Boyd Gaming's payout ratio is 11.15%.
Insider Buying and Selling
In related news, Director A. Randall Thoman sold 2,500 shares of Boyd Gaming stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total value of $159,375.00. Following the completion of the sale, the director now owns 4,017 shares in the company, valued at $256,083.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Boyd Gaming news, Director A. Randall Thoman sold 2,500 shares of the business's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total transaction of $159,375.00. Following the completion of the sale, the director now owns 4,017 shares in the company, valued at $256,083.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder William S. Boyd sold 125,000 shares of the business's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $63.77, for a total transaction of $7,971,250.00. Following the sale, the insider now owns 9,358,913 shares of the company's stock, valued at approximately $596,817,882.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 582,910 shares of company stock worth $37,299,461. Insiders own 28.40% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on BYD. Susquehanna reaffirmed a "neutral" rating and set a $75.00 price target (down from $84.00) on shares of Boyd Gaming in a research report on Monday, February 12th. Barclays lifted their price target on shares of Boyd Gaming from $66.00 to $67.00 and gave the company an "equal weight" rating in a research report on Friday, January 26th. Stifel Nicolaus reaffirmed a "hold" rating and set a $69.00 price target on shares of Boyd Gaming in a research report on Friday, January 5th. Wells Fargo & Company lifted their price target on shares of Boyd Gaming from $81.00 to $82.00 and gave the company an "overweight" rating in a research report on Friday, February 9th. Finally, Truist Financial boosted their target price on shares of Boyd Gaming from $76.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $76.30.
Read Our Latest Research Report on BYD
Boyd Gaming Company Profile
(
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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