New York State Common Retirement Fund Has $21.84 Million Position in Boyd Gaming Co. (NYSE:BYD)

New York State Common Retirement Fund increased its position in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 348,854 shares of the company's stock after purchasing an additional 22,164 shares during the period. New York State Common Retirement Fund owned 0.36% of Boyd Gaming worth $21,842,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BYD. Parkside Financial Bank & Trust increased its holdings 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 valued at $25,000 after buying an additional 211 shares in the last quarter. Rakuten Securities Inc. bought a new position in shares of Boyd Gaming in the fourth quarter valued at $30,000. Allworth Financial LP increased its holdings 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 valued at $64,000 after buying an additional 1,000 shares in the last quarter. Blue Trust Inc. increased its holdings 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 valued at $87,000 after buying an additional 1,424 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC increased its holdings in shares of Boyd Gaming by 37.1% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 1,882 shares of the company's stock valued at $118,000 after buying an additional 509 shares in the last quarter. Institutional investors own 76.81% of the company's stock.

Wall Street Analyst Weigh In

BYD has been the topic of several research reports. StockNews.com raised Boyd Gaming from a "hold" rating to a "buy" rating in a report on Wednesday, January 24th. Susquehanna reaffirmed a "neutral" rating and issued a $75.00 price target (down previously from $84.00) on shares of Boyd Gaming in a report on Monday, February 12th. JPMorgan Chase & Co. cut shares of Boyd Gaming from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $80.00 to $67.00 in a research report on Friday. Stifel Nicolaus lowered their price objective on shares of Boyd Gaming from $71.00 to $65.00 and set a "hold" rating on the stock in a research report on Friday. Finally, Truist Financial lowered their price objective on shares of Boyd Gaming from $80.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $72.20.

Insider Activity

In other news, major shareholder William S. Boyd sold 63,464 shares of the business's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the transaction, the insider now directly owns 8,795,449 shares in the company, valued at approximately $555,168,740.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder William S. Boyd sold 63,464 shares of the company's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total value of $4,005,847.68. Following the completion of the sale, the insider now directly owns 8,795,449 shares in the company, valued at $555,168,740.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Marianne Boyd Johnson sold 77,661 shares of the company's 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 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 a total of 582,910 shares of company stock worth $37,299,461 in the last ninety days. Corporate insiders own 27.94% of the company's stock.

Boyd Gaming Stock Down 15.4 %

Shares of Boyd Gaming stock traded down $9.71 on Friday, hitting $53.18. 6,825,350 shares of the company traded hands, compared to its average volume of 687,525. The company has a 50-day moving average price of $63.98 and a 200 day moving average price of $62.03. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 1.65. Boyd Gaming Co. has a 12-month low of $52.42 and a 12-month high of $73.00. The company has a market cap of $5.09 billion, a PE ratio of 9.55, a PEG ratio of 2.49 and a beta of 1.60.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.43 by $0.23. Boyd Gaming had a net margin of 14.91% and a return on equity of 34.77%. The business had revenue of $954.41 million for the quarter, compared to analysts' expectations of $928.04 million. During the same period in the previous year, the company posted $1.72 EPS. Boyd Gaming's revenue was up 3.4% on a year-over-year basis. Sell-side analysts predict that Boyd Gaming Co. will post 6.2 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. Stockholders of record on Friday, March 15th were issued a dividend of $0.17 per share. This is a boost from Boyd Gaming's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Thursday, March 14th. Boyd Gaming's payout ratio is currently 12.21%.

About Boyd Gaming

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.