Boyd Gaming Co. (NYSE:BYD) Stock Holdings Lessened by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund reduced its holdings in Boyd Gaming Co. (NYSE:BYD) by 3.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,489 shares of the company’s stock after selling 500 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Boyd Gaming were worth $978,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. UMB Bank n.a. lifted its position in Boyd Gaming by 80.3% in the 4th quarter. UMB Bank n.a. now owns 393 shares of the company’s stock valued at $29,000 after purchasing an additional 175 shares during the last quarter. GAMMA Investing LLC lifted its position in Boyd Gaming by 47.4% in the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares during the last quarter. Covestor Ltd lifted its position in Boyd Gaming by 54.9% in the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock valued at $38,000 after purchasing an additional 208 shares during the last quarter. Quarry LP lifted its position in Boyd Gaming by 150.1% in the 3rd quarter. Quarry LP now owns 873 shares of the company’s stock valued at $56,000 after purchasing an additional 524 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Boyd Gaming by 921.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock valued at $57,000 after purchasing an additional 802 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors.

Boyd Gaming Stock Performance

Shares of BYD opened at $76.12 on Friday. The firm’s 50 day moving average is $75.15 and its 200-day moving average is $69.64. The stock has a market capitalization of $6.37 billion, a P/E ratio of 12.24, a P/E/G ratio of 4.46 and a beta of 1.54. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. Boyd Gaming Co. has a 12-month low of $49.34 and a 12-month high of $80.50.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. Equities research analysts anticipate that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a $0.18 dividend. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Monday, March 17th. Boyd Gaming’s dividend payout ratio (DPR) is 11.58%.

Boyd Gaming announced that its board has approved a stock repurchase program on Thursday, December 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 7.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

BYD has been the topic of several recent research reports. JMP Securities reiterated a “market perform” rating on shares of Boyd Gaming in a research report on Friday, February 7th. Truist Financial lifted their price objective on shares of Boyd Gaming from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Mizuho raised their target price on shares of Boyd Gaming from $79.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Wells Fargo & Company raised their target price on shares of Boyd Gaming from $82.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Boyd Gaming from $74.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $95.20.

Insider Transactions at Boyd Gaming

In other news, Director William R. Boyd sold 15,000 shares of Boyd Gaming stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total value of $1,189,800.00. Following the transaction, the director now directly owns 1,472,970 shares of the company’s stock, valued at $116,835,980.40. This trade represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christine J. Spadafor sold 660 shares of Boyd Gaming stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $75.68, for a total transaction of $49,948.80. Following the completion of the transaction, the director now directly owns 5,977 shares in the company, valued at approximately $452,339.36. This trade represents a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,660 shares of company stock valued at $5,123,749 over the last ninety days. Corporate insiders own 27.94% of the company’s stock.

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.