State Board of Administration of Florida Retirement System Reduces Position in Boyd Gaming Corp. (BYD)
State Board of Administration of Florida Retirement System decreased its position in shares of Boyd Gaming Corp. (NYSE:BYD) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,885 shares of the company’s stock after selling 747 shares during the period. State Board of Administration of Florida Retirement System owned 0.07% of Boyd Gaming Corp. worth $1,341,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Stifel Financial Corp bought a new stake in shares of Boyd Gaming Corp. during the fourth quarter worth about $2,175,000. Norges Bank bought a new stake in shares of Boyd Gaming Corp. during the fourth quarter worth about $10,751,000. Fox Run Management L.L.C. bought a new stake in shares of Boyd Gaming Corp. during the first quarter worth about $258,000. Boston Advisors LLC bought a new stake in shares of Boyd Gaming Corp. during the first quarter worth about $469,000. Finally, Glenmede Trust Co. NA raised its stake in shares of Boyd Gaming Corp. by 405,919.8% in the first quarter. Glenmede Trust Co. NA now owns 1,883,932 shares of the company’s stock worth $38,920,000 after buying an additional 1,883,468 shares during the period. 73.64% of the stock is owned by institutional investors.
Boyd Gaming Corp. (NYSE:BYD) traded down 1.33% on Friday, hitting $18.48. 1,408,988 shares of the stock traded hands. Boyd Gaming Corp. has a 52 week low of $14.22 and a 52 week high of $21.43. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 25.77 and a beta of 1.98. The firm’s 50 day moving average is $19.49 and its 200 day moving average is $19.24.
Boyd Gaming Corp. (NYSE:BYD) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.14. Boyd Gaming Corp. had a return on equity of 18.90% and a net margin of 3.74%. The company had revenue of $544.90 million for the quarter, compared to the consensus estimate of $561.27 million. During the same period in the prior year, the company earned $0.24 EPS. The firm’s revenue was down 2.7% on a year-over-year basis. Equities analysts anticipate that Boyd Gaming Corp. will post $0.80 earnings per share for the current year.
A number of equities research analysts have issued reports on BYD shares. Deutsche Bank AG reissued a “buy” rating on shares of Boyd Gaming Corp. in a research note on Thursday, June 2nd. Imperial Capital reaffirmed an “outperform” rating and issued a $26.00 price objective on shares of Boyd Gaming Corp. in a research note on Wednesday, June 8th. Zacks Investment Research raised shares of Boyd Gaming Corp. from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Wednesday, July 6th. Finally, Telsey Advisory Group reduced their price objective on shares of Boyd Gaming Corp. from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, August 4th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Boyd Gaming Corp. has a consensus rating of “Buy” and an average target price of $22.08.
In related news, insider Robert L. Boughner sold 50,000 shares of the stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $19.81, for a total transaction of $990,500.00. Following the completion of the transaction, the insider now owns 144,560 shares in the company, valued at $2,863,733.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marianne Boyd Johnson sold 10,000 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $19.26, for a total transaction of $192,600.00. Following the transaction, the insider now owns 187,229 shares of the company’s stock, valued at approximately $3,606,030.54. The disclosure for this sale can be found here. Insiders own 29.67% of the company’s stock.
Boyd Gaming Corp. Company Profile
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operates through five segments: Las Vegas Locals; Downtown Las Vegas; Midwest and South; Peninsula, and Borgata. The Las Vegas Locals Properties segment consists of Gold Coast Hotel and Casino, The Orleans Hotel and Casino, Sam’s Town Hotel and Gambling Hall, Suncoast Hotel and Casino, and Eldorado Casino and Jokers Wild Casino.
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