Boyd Gaming Corporation $BYD Stock Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its holdings in shares of Boyd Gaming Corporation (NYSE:BYD) by 47.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,600 shares of the company’s stock after selling 6,850 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Boyd Gaming were worth $506,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Boyd Gaming during the second quarter worth about $486,737,000. Bank of America Corp DE acquired a new stake in shares of Boyd Gaming in the second quarter valued at approximately $70,043,000. Bamco Inc. NY acquired a new stake in shares of Boyd Gaming in the second quarter valued at approximately $41,184,000. Bank of New York Mellon Corp acquired a new stake in shares of Boyd Gaming in the second quarter valued at approximately $40,281,000. Finally, Deutsche Bank AG purchased a new position in shares of Boyd Gaming during the 2nd quarter worth approximately $19,602,000. Institutional investors and hedge funds own 76.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BYD. Weiss Ratings downgraded Boyd Gaming from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 29th. Mizuho set a $103.00 target price on Boyd Gaming in a report on Friday, October 23rd. Morgan Stanley raised Boyd Gaming from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $89.00 to $83.00 in a research report on Monday, October 19th. Wells Fargo & Company cut their price target on Boyd Gaming from $87.00 to $86.00 and set an “equal weight” rating for the company in a report on Monday, October 19th. Finally, Truist Financial set a $95.00 price objective on Boyd Gaming in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Boyd Gaming presently has a consensus rating of “Moderate Buy” and an average target price of $89.46.

Boyd Gaming Trading Down 0.7%

NYSE BYD traded down $0.55 during mid-day trading on Friday, reaching $76.52. 1,010,756 shares of the stock were exchanged, compared to its average volume of 1,198,100. Boyd Gaming Corporation has a 1-year low of $65.00 and a 1-year high of $91.41. The business’s fifty day simple moving average is $72.89 and its 200 day simple moving average is $81.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.31 and a current ratio of 0.33. The stock has a market capitalization of $5.41 billion, a PE ratio of 11.56, a PEG ratio of 1.44 and a beta of 1.13.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, October 22nd. The company reported $1.67 EPS for the quarter, meeting the consensus estimate of $1.67. Boyd Gaming had a return on equity of 22.32% and a net margin of 12.29%. The firm had revenue of $990.46 million during the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the firm posted $1.72 earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, research analysts anticipate that Boyd Gaming Corporation will post 7.12 earnings per share for the current fiscal year.

Boyd Gaming Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th were issued a $0.20 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $0.80 annualized dividend and a yield of 1.0%. Boyd Gaming’s payout ratio is 12.08%.

About Boyd Gaming

Boyd Gaming Corporation is a gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates casinos, hotels, restaurants, entertainment venues and related amenities under brands including Sam’s Town, The Orleans, Gold Coast, Suncoast and Fremont.

Boyd Gaming serves customers across several U.S. states, with a significant presence in Nevada as well as properties in the Midwest and South. Its portfolio includes destination resorts, regional casinos and racetracks offering slot machines, table games, poker, sports betting and other gaming experiences.

The company also operates online gaming and sports-wagering businesses in selected markets, including through partnerships and digital platforms.