14,450 Shares in Boyd Gaming Corporation $BYD Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Boyd Gaming Corporation (NYSE:BYD) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,450 shares of the company’s stock, valued at approximately $1,276,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new stake in shares of Boyd Gaming during the fourth quarter worth $25,000. Los Angeles Capital Management LLC bought a new position in shares of Boyd Gaming in the 4th quarter worth about $25,000. Bessemer Group Inc. boosted its holdings in shares of Boyd Gaming by 62.8% in the 1st quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock valued at $43,000 after buying an additional 203 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after buying an additional 196 shares during the period. Finally, Employees Retirement System of Texas bought a new stake in shares of Boyd Gaming during the 3rd quarter valued at about $53,000. Institutional investors and hedge funds own 76.81% of the company’s stock.

Insider Transactions at Boyd Gaming

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

Analyst Ratings Changes

Several research firms recently weighed in on BYD. Mizuho set a $104.00 price objective on shares of Boyd Gaming in a research note on Friday, July 24th. The Goldman Sachs Group started coverage on Boyd Gaming in a research note on Friday, June 26th. They issued a “neutral” rating and a $91.00 target price for the company. Barclays increased their price target on Boyd Gaming from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Friday, July 24th. Texas Capital raised Boyd Gaming to a “strong-buy” rating in a report on Wednesday, June 3rd. Finally, Morgan Stanley reduced their price objective on Boyd Gaming from $90.00 to $89.00 and set an “equal weight” rating for the company in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, Boyd Gaming presently has an average rating of “Hold” and a consensus target price of $94.69.

Boyd Gaming Stock Up 0.9%

BYD stock opened at $77.14 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 1.05. Boyd Gaming Corporation has a fifty-two week low of $74.79 and a fifty-two week high of $91.41. The firm’s 50-day simple moving average is $83.47 and its 200 day simple moving average is $84.02. The stock has a market cap of $5.60 billion, a PE ratio of 3.40, a price-to-earnings-growth ratio of 1.37 and a beta of 1.06.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, July 23rd. The company reported $1.93 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $1.04 billion. During the same period in the previous year, the business posted $1.87 EPS. Boyd Gaming’s revenue was up .0% on a year-over-year basis. As a group, sell-side analysts predict that Boyd Gaming Corporation will post 7.29 EPS for the current year.

Boyd Gaming Announces Dividend

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

Boyd Gaming Company Profile

Boyd Gaming Corporation is a gaming and hospitality company that owns and operates casinos, hotels, restaurants, entertainment venues and related amenities. Its properties offer casino games such as slots, table games and poker, along with lodging, dining, convention and entertainment services.

Founded in 1975 by gaming executive Sam Boyd, the company is headquartered in Las Vegas, Nevada. Boyd Gaming operates regional gaming properties across several U.S. states, including Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Ohio and Pennsylvania.