VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Boyd Gaming Corporation (NYSE:BYD – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,450 shares of the company’s stock, valued at approximately $1,276,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Boyd Gaming by 1,466.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 32,965 shares of the company’s stock worth $2,810,000 after purchasing an additional 30,860 shares during the period. III Capital Management purchased a new position in Boyd Gaming in the fourth quarter valued at approximately $4,177,000. Jefferies Financial Group Inc. acquired a new position in Boyd Gaming during the fourth quarter valued at approximately $15,551,000. BlackRock Inc. acquired a new position in Boyd Gaming during the second quarter valued at approximately $486,737,000. Finally, Bank of America Corp DE grew its stake in Boyd Gaming by 8.8% during the first quarter. Bank of America Corp DE now owns 569,427 shares of the company’s stock worth $46,796,000 after buying an additional 46,146 shares during the period. 76.81% of the stock is currently owned by institutional investors and hedge funds.
Boyd Gaming Trading Up 0.9%
Shares of BYD opened at $77.14 on Friday. Boyd Gaming Corporation has a one year low of $74.79 and a one year high of $91.41. The stock has a 50-day moving average price of $83.47 and a 200 day moving average price of $84.02. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.74 and a current ratio of 0.77. The company has a market capitalization of $5.60 billion, a P/E ratio of 3.40, a P/E/G ratio of 1.37 and a beta of 1.06.
Boyd Gaming Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 15th. Boyd Gaming’s payout ratio is 3.52%.
Insider Transactions at Boyd Gaming
In related news, CFO Josh Hirsberg sold 12,777 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $89.76, for a total value of $1,146,863.52. Following the sale, the chief financial officer directly owned 422,969 shares of the company’s stock, valued at $37,965,697.44. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 22.82% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of brokerages have recently commented on BYD. Benchmark began coverage on shares of Boyd Gaming in a research note on Monday, June 22nd. They issued a “buy” rating and a $100.00 target price on the stock. Texas Capital upgraded Boyd Gaming to a “strong-buy” rating in a report on Wednesday, June 3rd. Morgan Stanley cut their price objective on Boyd Gaming from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Monday, July 27th. Wells Fargo & Company boosted their price objective on Boyd Gaming from $81.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. Finally, Stifel Nicolaus upped their target price on Boyd Gaming from $91.00 to $92.00 and gave the stock a “hold” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Boyd Gaming presently has an average rating of “Hold” and an average target price of $94.69.
Get Our Latest Report on Boyd Gaming
Boyd Gaming Company Profile
Boyd Gaming Corporation is a gaming and hospitality company that owns and operates casinos, hotels, restaurants, entertainment venues and related amenities. Its properties offer casino games such as slots, table games and poker, along with lodging, dining, convention and entertainment services.
Founded in 1975 by gaming executive Sam Boyd, the company is headquartered in Las Vegas, Nevada. Boyd Gaming operates regional gaming properties across several U.S. states, including Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Ohio and Pennsylvania.
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