Boyd Gaming Co. (NYSE:BYD) Shares Bought by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury raised its stake in Boyd Gaming Co. (NYSE:BYD) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,277 shares of the company’s stock after acquiring an additional 1,318 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Boyd Gaming were worth $2,414,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its holdings in Boyd Gaming by 252.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,199 shares of the company’s stock valued at $305,000 after acquiring an additional 3,008 shares during the period. MetLife Investment Management LLC increased its position in shares of Boyd Gaming by 4.9% in the fourth quarter. MetLife Investment Management LLC now owns 37,317 shares of the company’s stock valued at $2,707,000 after buying an additional 1,750 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Boyd Gaming in the fourth quarter valued at approximately $571,000. Dimensional Fund Advisors LP increased its position in shares of Boyd Gaming by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 411,881 shares of the company’s stock valued at $29,877,000 after buying an additional 4,925 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Boyd Gaming by 1.2% in the fourth quarter. First Trust Advisors LP now owns 382,003 shares of the company’s stock valued at $27,710,000 after buying an additional 4,684 shares in the last quarter. 76.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Boyd Gaming from $74.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Morgan Stanley decreased their price target on shares of Boyd Gaming from $75.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Jefferies Financial Group raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and raised their price target for the stock from $73.00 to $92.00 in a research note on Friday, January 3rd. StockNews.com downgraded shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th. Finally, Mizuho reduced their target price on shares of Boyd Gaming from $86.00 to $83.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Boyd Gaming has a consensus rating of “Moderate Buy” and a consensus target price of $95.07.

Boyd Gaming Price Performance

Boyd Gaming stock opened at $69.25 on Tuesday. The company’s 50 day simple moving average is $68.17 and its 200-day simple moving average is $71.25. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 4.46 and a beta of 1.31. Boyd Gaming Co. has a 1 year low of $49.34 and a 1 year high of $80.50. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.10. The firm had revenue of $991.57 million during the quarter, compared to analysts’ expectations of $976.38 million. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.51 earnings per share. As a group, equities research analysts expect that Boyd Gaming Co. will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were issued a $0.18 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.04%. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.17. Boyd Gaming’s payout ratio is 11.75%.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Director William R. Boyd sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the completion of the transaction, the director now owns 1,472,970 shares in the company, valued at $116,835,980.40. The trade was a 1.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the transaction, the chairman now owns 1,346,628 shares of the company’s stock, valued at $104,606,063.04. This trade represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,125 shares of company stock worth $5,158,490. Corporate insiders own 27.94% of the company’s stock.

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.