Boyd Gaming Corporation $BYD Holdings Cut by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its stake in shares of Boyd Gaming Corporation (NYSE:BYD) by 24.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,150 shares of the company’s stock after selling 6,150 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Boyd Gaming were worth $1,655,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Asset Management One Co. Ltd. bought a new stake in Boyd Gaming in the third quarter valued at $1,531,000. Envestnet Asset Management Inc. boosted its stake in Boyd Gaming by 78.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 127,303 shares of the company’s stock valued at $11,005,000 after purchasing an additional 55,923 shares during the period. Citigroup Inc. grew its position in Boyd Gaming by 94.8% in the 3rd quarter. Citigroup Inc. now owns 229,823 shares of the company’s stock worth $19,868,000 after purchasing an additional 111,815 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Boyd Gaming by 174.3% during the third quarter. Allianz Asset Management GmbH now owns 274,154 shares of the company’s stock valued at $23,701,000 after buying an additional 174,214 shares during the last quarter. Finally, LSV Asset Management boosted its position in shares of Boyd Gaming by 115.8% during the second quarter. LSV Asset Management now owns 245,100 shares of the company’s stock worth $19,174,000 after buying an additional 131,500 shares during the period. Institutional investors own 76.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BYD shares. Wells Fargo & Company cut their target price on Boyd Gaming from $85.00 to $84.00 and set an “equal weight” rating on the stock in a research note on Monday, February 9th. Stifel Nicolaus upped their price objective on shares of Boyd Gaming from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, February 6th. Citigroup assumed coverage on shares of Boyd Gaming in a research note on Thursday, November 20th. They set a “neutral” rating and a $86.00 target price on the stock. Morgan Stanley set a $86.00 price target on shares of Boyd Gaming in a research note on Wednesday, February 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Boyd Gaming in a research note on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $92.58.

Boyd Gaming Stock Performance

Boyd Gaming stock opened at $81.97 on Friday. Boyd Gaming Corporation has a fifty-two week low of $58.94 and a fifty-two week high of $89.96. The firm’s 50 day simple moving average is $85.02 and its 200-day simple moving average is $83.83. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.54 and a quick ratio of 0.52. The company has a market cap of $6.19 billion, a P/E ratio of 3.60, a price-to-earnings-growth ratio of 1.73 and a beta of 1.20.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, February 5th. The company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.33. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Boyd Gaming had a net margin of 45.05% and a return on equity of 30.14%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.96 EPS. As a group, equities research analysts predict that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be issued a $0.20 dividend. The ex-dividend date is Monday, March 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.18. Boyd Gaming’s dividend payout ratio is currently 3.16%.

Insider Transactions at Boyd Gaming

In other news, Director William R. Boyd sold 30,000 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $84.84, for a total transaction of $2,545,200.00. Following the transaction, the director directly owned 1,930,447 shares in the company, valued at $163,779,123.48. The trade was a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Josh Hirsberg sold 23,924 shares of Boyd Gaming stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $85.86, for a total value of $2,054,114.64. Following the sale, the chief financial officer directly owned 435,746 shares of the company’s stock, valued at approximately $37,413,151.56. The trade was a 5.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 73,454 shares of company stock valued at $6,231,827 over the last three months. 27.94% of the stock is owned by corporate insiders.

About Boyd Gaming

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.