New York State Common Retirement Fund Buys 22,164 Shares of Boyd Gaming Co. (NYSE:BYD)

New York State Common Retirement Fund grew its stake in Boyd Gaming Co. (NYSE:BYD) by 6.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 about 0.36% of Boyd Gaming worth $21,842,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in BYD. Parkside Financial Bank & Trust boosted its stake in shares of Boyd Gaming by 105.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock valued at $25,000 after purchasing an additional 211 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in Boyd Gaming during the 4th quarter worth approximately $30,000. Allworth Financial LP boosted its position in Boyd Gaming by 3,333.3% during the 4th quarter. Allworth Financial LP now owns 1,030 shares of the company’s stock worth $64,000 after buying an additional 1,000 shares during the period. Blue Trust Inc. boosted its position in Boyd Gaming by 20,342.9% during the 4th quarter. Blue Trust Inc. now owns 1,431 shares of the company’s stock worth $87,000 after buying an additional 1,424 shares during the period. Finally, Knights of Columbus Asset Advisors LLC boosted its position in Boyd Gaming by 37.1% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 1,882 shares of the company’s stock worth $118,000 after buying an additional 509 shares during the period. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Boyd Gaming Stock Performance

Shares of BYD stock opened at $53.18 on Friday. The firm has a market capitalization of $5.09 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 2.94 and a beta of 1.60. The firm has a fifty day simple moving average of $63.98 and a two-hundred day simple moving average of $62.03. The company has a current ratio of 0.89, a quick ratio of 0.85 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.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, February 8th. The company reported $1.66 EPS for the quarter, beating 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 14.91% and a return on equity of 34.77%. Boyd Gaming’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.72 EPS. Analysts forecast that Boyd Gaming Co. will post 6.19 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. 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 12.21%.

Wall Street Analyst Weigh In

BYD has been the topic of several recent research reports. Wells Fargo & Company cut their target price on shares of Boyd Gaming from $82.00 to $71.00 and set an “overweight” rating on the stock in a research report on Friday. Morgan Stanley raised their price target on shares of Boyd Gaming from $71.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Susquehanna restated a “neutral” rating and set a $75.00 price target (down previously from $84.00) on shares of Boyd Gaming in a report on Monday, February 12th. Deutsche Bank Aktiengesellschaft lowered shares of Boyd Gaming from a “buy” rating to a “hold” rating and lowered their price target for the stock from $78.00 to $71.00 in a report on Friday. Finally, Truist Financial lowered their price target on shares of Boyd Gaming from $80.00 to $75.00 and set a “buy” rating for the company in a report on Friday. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $72.20.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming 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 transaction of $159,375.00. Following the transaction, the director now directly owns 4,017 shares of the company’s stock, valued at approximately $256,083.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 77,661 shares of Boyd Gaming stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $64.87, for a total transaction of $5,037,869.07. Following the transaction, the chairman now directly owns 1,511,433 shares of the company’s stock, valued at approximately $98,046,658.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director A. Randall Thoman sold 2,500 shares of Boyd Gaming stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total transaction of $159,375.00. Following the transaction, the director now directly owns 4,017 shares in the company, valued at $256,083.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 582,910 shares of company stock worth $37,299,461. 27.94% of the stock is owned by corporate insiders.

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.