Treasurer of the State of North Carolina reduced its position in Boyd Gaming Co. (NYSE:BYD – Get Rating) by 1.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 33,142 shares of the company’s stock after selling 350 shares during the period. Treasurer of the State of North Carolina’s holdings in Boyd Gaming were worth $1,807,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ariel Investments LLC grew its stake in shares of Boyd Gaming by 63.4% during the 1st quarter. Ariel Investments LLC now owns 2,629,438 shares of the company’s stock valued at $172,965,000 after buying an additional 1,020,515 shares during the period. Invesco Ltd. grew its stake in shares of Boyd Gaming by 45.2% during the 1st quarter. Invesco Ltd. now owns 2,382,418 shares of the company’s stock valued at $156,715,000 after buying an additional 741,156 shares during the period. BlackRock Inc. grew its stake in shares of Boyd Gaming by 7.2% during the 3rd quarter. BlackRock Inc. now owns 7,566,954 shares of the company’s stock valued at $360,566,000 after buying an additional 510,134 shares during the period. Vanguard Group Inc. grew its stake in shares of Boyd Gaming by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 9,030,684 shares of the company’s stock valued at $594,039,000 after buying an additional 359,698 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Boyd Gaming by 53.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 941,288 shares of the company’s stock valued at $46,829,000 after buying an additional 328,170 shares during the period. 68.68% of the stock is owned by hedge funds and other institutional investors.
Boyd Gaming Stock Performance
Shares of BYD stock opened at $66.79 on Friday. Boyd Gaming Co. has a 12 month low of $46.10 and a 12 month high of $71.69. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.77 and a quick ratio of 0.74. The firm has a market capitalization of $6.75 billion, a P/E ratio of 10.52, a P/E/G ratio of 1.55 and a beta of 1.78. The company’s fifty day moving average price is $65.19 and its two-hundred day moving average price is $61.92.
Boyd Gaming Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Thursday, June 15th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Wednesday, June 14th. Boyd Gaming’s payout ratio is currently 10.08%.
Insider Transactions at Boyd Gaming
In other news, insider William S. Boyd sold 39,525 shares of the business’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $64.52, for a total value of $2,550,153.00. Following the completion of the sale, the insider now owns 14,102,224 shares of the company’s stock, valued at approximately $909,875,492.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Keith Smith sold 25,000 shares of the business’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $64.05, for a total transaction of $1,601,250.00. Following the completion of the sale, the chief executive officer now owns 1,297,562 shares of the company’s stock, valued at approximately $83,108,846.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William S. Boyd sold 39,525 shares of the business’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $64.52, for a total transaction of $2,550,153.00. Following the sale, the insider now directly owns 14,102,224 shares of the company’s stock, valued at approximately $909,875,492.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,901 shares of company stock valued at $6,019,395. Insiders own 27.94% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on BYD shares. Truist Financial boosted their price objective on shares of Boyd Gaming from $83.00 to $85.00 in a research note on Wednesday, April 26th. Susquehanna lifted their target price on shares of Boyd Gaming from $80.00 to $84.00 in a report on Wednesday, April 26th. StockNews.com assumed coverage on shares of Boyd Gaming in a report on Thursday. They set a “strong-buy” rating on the stock. Credit Suisse Group reduced their target price on shares of Boyd Gaming from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Finally, Morgan Stanley lifted their target price on shares of Boyd Gaming from $60.00 to $62.00 and gave the company an “underweight” rating in a report on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.29.
About Boyd Gaming
Boyd Gaming Corp. is a multi-jurisdictional gaming company, which engages in the management and operation of gaming and entertainment properties. It operates through the following segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South. The Las Vegas Locals segment consists of eight casinos that primarily serve the resident population in the Las Vegas metropolitan area.
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