VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its position in Boyd Gaming Corporation (NYSE:BYD – Free Report) by 47.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,600 shares of the company’s stock after selling 6,850 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Boyd Gaming were worth $506,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Boyd Gaming during the 2nd quarter worth $486,737,000. Quantinno Capital Management LP boosted its holdings in shares of Boyd Gaming by 18.2% in the first quarter. Quantinno Capital Management LP now owns 925,070 shares of the company’s stock valued at $76,022,000 after acquiring an additional 142,468 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Boyd Gaming during the second quarter worth about $70,043,000. First Trust Advisors LP increased its stake in shares of Boyd Gaming by 1.1% during the first quarter. First Trust Advisors LP now owns 672,724 shares of the company’s stock worth $55,284,000 after acquiring an additional 7,463 shares during the period. Finally, Bamco Inc. NY acquired a new position in shares of Boyd Gaming during the second quarter worth about $41,184,000. 76.81% of the stock is owned by institutional investors and hedge funds.
Boyd Gaming Price Performance
Shares of BYD traded down $0.55 during trading hours on Friday, reaching $76.52. The company had a trading volume of 1,010,756 shares, compared to its average volume of 1,198,100. The company has a current ratio of 0.33, a quick ratio of 0.31 and a debt-to-equity ratio of 0.77. Boyd Gaming Corporation has a 12-month low of $65.00 and a 12-month high of $91.41. The firm has a 50 day simple moving average of $72.89 and a 200-day simple moving average of $81.60. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 1.44 and a beta of 1.13.
Boyd Gaming (NYSE:BYD – Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The company reported $1.67 EPS for the quarter, hitting analysts’ consensus estimates of $1.67. Boyd Gaming had a net margin of 12.29% and a return on equity of 22.32%. The firm had revenue of $990.46 million for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the firm earned $1.72 earnings per share. The firm’s revenue was down 1.3% on a year-over-year basis. Research analysts expect that Boyd Gaming Corporation will post 7.12 earnings per share for the current year.
Boyd Gaming Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Tuesday, September 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, September 15th. Boyd Gaming’s dividend payout ratio (DPR) is presently 12.08%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. The Goldman Sachs Group set a $80.00 price objective on shares of Boyd Gaming in a research report on Tuesday, October 13th. Morgan Stanley upgraded Boyd Gaming from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $89.00 to $83.00 in a research report on Monday, October 19th. Weiss Ratings downgraded Boyd Gaming from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 29th. Citigroup cut their target price on Boyd Gaming from $78.00 to $76.00 and set a “neutral” rating for the company in a research note on Monday, October 26th. Finally, Wolfe Research started coverage on Boyd Gaming in a report on Wednesday, September 2nd. They issued a “peer perform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.46.
Check Out Our Latest Analysis on BYD
About Boyd Gaming
Boyd Gaming Corporation is a gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates casinos, hotels, restaurants, entertainment venues and related amenities under brands including Sam’s Town, The Orleans, Gold Coast, Suncoast and Fremont.
Boyd Gaming serves customers across several U.S. states, with a significant presence in Nevada as well as properties in the Midwest and South. Its portfolio includes destination resorts, regional casinos and racetracks offering slot machines, table games, poker, sports betting and other gaming experiences.
The company also operates online gaming and sports-wagering businesses in selected markets, including through partnerships and digital platforms.
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