Public Employees Retirement System of Ohio Invests $1.28 Million in Boyd Gaming Corporation $BYD

Public Employees Retirement System of Ohio purchased a new stake in Boyd Gaming Corporation (NYSE:BYD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,548 shares of the company’s stock, valued at approximately $1,285,000.

A number of other large investors have also added to or reduced their stakes in the stock. Capstone Investment Advisors LLC acquired a new position in Boyd Gaming in the 2nd quarter valued at $756,000. Redwood Investment Management LLC bought a new position in shares of Boyd Gaming in the second quarter worth $2,256,000. Corient Private Wealth LP acquired a new position in Boyd Gaming in the second quarter valued at about $9,203,000. Bamco Inc. NY acquired a new position in Boyd Gaming in the second quarter valued at about $41,184,000. Finally, Bank of America Corp DE bought a new stake in Boyd Gaming during the second quarter worth about $70,043,000. Institutional investors and hedge funds own 76.81% of the company’s stock.

Insider Buying and Selling

In other Boyd Gaming news, CFO Josh Hirsberg sold 12,777 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $89.76, for a total value of $1,146,863.52. Following the sale, the chief financial officer owned 422,969 shares in the company, valued at $37,965,697.44. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 22.82% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on BYD. JPMorgan Chase & Co. increased their price objective on shares of Boyd Gaming from $90.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Stifel Nicolaus upped their price target on shares of Boyd Gaming from $91.00 to $92.00 and gave the stock a “hold” rating in a report on Friday, July 24th. Barclays lifted their price objective on shares of Boyd Gaming from $86.00 to $87.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. Benchmark started coverage on shares of Boyd Gaming in a research report on Monday, June 22nd. They set a “buy” rating and a $100.00 price objective for the company. Finally, Texas Capital upgraded Boyd Gaming to a “strong-buy” rating in a research note on Wednesday, June 3rd. One equities 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 stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $94.69.

Boyd Gaming Stock Performance

Boyd Gaming stock opened at $76.62 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 1.05. The stock has a market cap of $5.57 billion, a PE ratio of 3.37, a P/E/G ratio of 1.39 and a beta of 1.06. Boyd Gaming Corporation has a 12-month low of $76.24 and a 12-month high of $91.41. The business’s 50-day moving average price is $84.16 and its two-hundred day moving average price is $84.21.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, July 23rd. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.52%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the business earned $1.87 earnings per share. The business’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, analysts expect that Boyd Gaming Corporation will post 7.29 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.80 annualized dividend and a yield of 1.0%. Boyd Gaming’s dividend payout ratio is presently 3.52%.

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.