Public Employees Retirement System of Ohio purchased a new position in shares of Boyd Gaming Corporation (NYSE:BYD – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 14,548 shares of the company’s stock, valued at approximately $1,285,000.
Several other institutional investors and hedge funds also recently made changes to their positions in BYD. Northwestern Mutual Wealth Management Co. increased its position in Boyd Gaming by 1,466.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 32,965 shares of the company’s stock valued at $2,810,000 after acquiring an additional 30,860 shares during the period. III Capital Management acquired a new position in shares of Boyd Gaming during the fourth quarter worth $4,177,000. Jefferies Financial Group Inc. bought a new stake in shares of Boyd Gaming in the fourth quarter worth $15,551,000. BlackRock Inc. acquired a new stake in Boyd Gaming in the second quarter valued at $486,737,000. Finally, Convergence Investment Partners LLC acquired a new stake in Boyd Gaming in the fourth quarter valued at $1,256,000. Institutional investors and hedge funds own 76.81% of the company’s stock.
Insiders Place Their Bets
In other Boyd Gaming news, CFO Josh Hirsberg sold 12,777 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total value of $1,146,863.52. Following the transaction, the chief financial officer owned 422,969 shares in the company, valued at approximately $37,965,697.44. This represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 22.82% of the company’s stock.
Boyd Gaming Price Performance
Boyd Gaming (NYSE:BYD – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.04. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.52%. Boyd Gaming’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.87 EPS. On average, equities analysts anticipate that Boyd Gaming Corporation will post 7.29 EPS for the current year.
Boyd Gaming Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Boyd Gaming’s payout ratio is presently 3.52%.
Wall Street Analysts Forecast Growth
BYD has been the topic of several recent research reports. Weiss Ratings downgraded Boyd Gaming from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Stifel Nicolaus increased their price target on Boyd Gaming from $91.00 to $92.00 and gave the company a “hold” rating in a research note on Friday, July 24th. The Goldman Sachs Group initiated coverage on Boyd Gaming in a research report on Friday, June 26th. They set a “neutral” rating and a $91.00 price objective for the company. JPMorgan Chase & Co. upped their target price on Boyd Gaming from $90.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, Barclays increased their target price on shares of Boyd Gaming from $86.00 to $87.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, Boyd Gaming has a consensus rating of “Hold” and an average target price of $94.69.
Check Out Our Latest Stock Report on Boyd Gaming
About Boyd Gaming
Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.
Founded in 1975 by its namesake, William S.
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