New York State Common Retirement Fund Increases Stake in Boyd Gaming Co. (NYSE:BYD)

New York State Common Retirement Fund raised its position in shares of Boyd Gaming Co. (NYSE:BYD) by 24.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 402,584 shares of the company’s stock after purchasing an additional 79,103 shares during the quarter. New York State Common Retirement Fund owned 0.42% of Boyd Gaming worth $26,027,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Cetera Trust Company N.A boosted its position in shares of Boyd Gaming by 5.4% during the third quarter. Cetera Trust Company N.A now owns 3,330 shares of the company’s stock valued at $215,000 after buying an additional 170 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Boyd Gaming by 57.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after acquiring an additional 189 shares during the period. AlphaMark Advisors LLC increased its stake in shares of Boyd Gaming by 2.6% in the 2nd quarter. AlphaMark Advisors LLC now owns 8,063 shares of the company’s stock worth $444,000 after purchasing an additional 205 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Boyd Gaming by 4.9% in the 1st quarter. Lazard Asset Management LLC now owns 5,361 shares of the company’s stock worth $360,000 after purchasing an additional 249 shares during the period. Finally, Blue Trust Inc. lifted its position in Boyd Gaming by 58.2% during the second quarter. Blue Trust Inc. now owns 783 shares of the company’s stock valued at $43,000 after purchasing an additional 288 shares in the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on BYD. Macquarie reduced their price target on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Mizuho restated an “outperform” rating and set a $79.00 target price (up previously from $78.00) on shares of Boyd Gaming in a research note on Friday, October 25th. Morgan Stanley upped their price target on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price objective on shares of Boyd Gaming from $68.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus upped their target price on shares of Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $91.38.

Boyd Gaming Price Performance

Shares of Boyd Gaming stock opened at $68.66 on Monday. The firm has a market cap of $6.30 billion, a PE ratio of 13.10, a PEG ratio of 9.04 and a beta of 1.55. The stock has a 50 day moving average of $63.55 and a 200 day moving average of $58.60. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 1.70. Boyd Gaming Co. has a 12 month low of $49.34 and a 12 month high of $72.22.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Sunday, September 15th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, September 13th. Boyd Gaming’s dividend payout ratio (DPR) is presently 12.98%.

Insider Buying and Selling

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction on Monday, August 26th. The shares were sold at an average price of $60.36, for a total value of $74,967.12. Following the completion of the transaction, the director now directly owns 1,096 shares of the company’s stock, valued at $66,154.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the sale, the director now directly owns 1,096 shares in the company, valued at $66,154.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of Boyd Gaming stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total value of $4,404,619.90. Following the completion of the transaction, the chairman now owns 1,423,498 shares of the company’s stock, valued at approximately $85,737,284.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,527 shares of company stock worth $6,224,086. 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.