VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.92 Million in Boyd Gaming Corporation $BYD

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Boyd Gaming Corporation (NYSE:BYD) during the 4th quarter, Holdings Channel.com reports. The fund acquired 22,550 shares of the company’s stock, valued at approximately $1,922,000.

Other institutional investors also recently modified their holdings of the company. First Horizon Corp acquired a new stake in shares of Boyd Gaming during the 4th quarter worth approximately $41,000. Advisors Asset Management Inc. grew its holdings in shares of Boyd Gaming by 56.8% during the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after purchasing an additional 196 shares in the last quarter. Employees Retirement System of Texas acquired a new stake in shares of Boyd Gaming during the 3rd quarter worth approximately $53,000. Geneos Wealth Management Inc. grew its holdings in shares of Boyd Gaming by 139.9% during the 2nd quarter. Geneos Wealth Management Inc. now owns 619 shares of the company’s stock worth $48,000 after purchasing an additional 361 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in shares of Boyd Gaming by 84.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 686 shares of the company’s stock worth $59,000 after purchasing an additional 314 shares in the last quarter. 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 23,924 shares of Boyd Gaming stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $85.86, for a total value of $2,054,114.64. Following the completion of the transaction, the chief financial officer owned 435,746 shares in the company, valued at approximately $37,413,151.56. The trade was a 5.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen S. Thompson sold 19,530 shares of Boyd Gaming stock in a transaction on Friday, February 27th. The shares were sold at an average price of $83.59, for a total value of $1,632,512.70. Following the completion of the transaction, the insider owned 22,009 shares of the company’s stock, valued at approximately $1,839,732.31. The trade was a 47.02% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 173,454 shares of company stock worth $14,680,814. 22.82% of the stock is owned by company insiders.

Boyd Gaming Trading Down 0.5%

Shares of BYD opened at $79.01 on Friday. The stock has a fifty day moving average price of $83.82 and a two-hundred day moving average price of $83.60. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.60. Boyd Gaming Corporation has a 52-week low of $72.01 and a 52-week high of $89.96. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 3.46, a PEG ratio of 1.85 and a beta of 1.11.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($0.16). Boyd Gaming had a net margin of 44.84% and a return on equity of 25.63%. The business had revenue of $997.36 million during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the firm posted $1.62 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Analysts predict that Boyd Gaming Corporation will post 7.32 EPS for the current fiscal year.

Boyd Gaming declared that its board has initiated a share repurchase plan on Thursday, April 23rd that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Boyd Gaming Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be given a $0.20 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.80 annualized dividend and a yield of 1.0%. Boyd Gaming’s payout ratio is presently 3.51%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Boyd Gaming from $89.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Wells Fargo & Company decreased their price target on Boyd Gaming from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. Susquehanna decreased their price target on Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Citigroup boosted their price target on Boyd Gaming from $86.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Finally, Barclays decreased their price target on Boyd Gaming from $87.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $92.08.

Boyd Gaming Company Profile

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.