Alaska Permanent Fund Corp Boosts Holdings in Boyd Gaming Co. (NYSE:BYD)

Alaska Permanent Fund Corp boosted its position in Boyd Gaming Co. (NYSE:BYD) by 301.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,120 shares of the company’s stock after buying an additional 21,120 shares during the period. Alaska Permanent Fund Corp’s holdings in Boyd Gaming were worth $1,893,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its position in Boyd Gaming by 105.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock valued at $25,000 after buying an additional 211 shares during the last quarter. Kestra Advisory Services LLC lifted its holdings in Boyd Gaming by 4.9% in the third quarter. Kestra Advisory Services LLC now owns 6,654 shares of the company’s stock valued at $405,000 after acquiring an additional 308 shares during the period. QRG Capital Management Inc. lifted its holdings in Boyd Gaming by 3.0% in the fourth quarter. QRG Capital Management Inc. now owns 11,363 shares of the company’s stock valued at $711,000 after acquiring an additional 327 shares during the period. Signet Financial Management LLC lifted its holdings in Boyd Gaming by 1.4% in the fourth quarter. Signet Financial Management LLC now owns 28,002 shares of the company’s stock valued at $1,753,000 after acquiring an additional 390 shares during the period. Finally, LVZ Inc. lifted its holdings in Boyd Gaming by 11.0% in the fourth quarter. LVZ Inc. now owns 4,359 shares of the company’s stock valued at $273,000 after acquiring an additional 432 shares during the period. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Boyd Gaming Trading Down 1.9 %

Shares of BYD stock opened at $52.74 on Friday. The firm has a 50-day moving average price of $55.57 and a 200 day moving average price of $60.73. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $73.00. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 9.47 and a beta of 1.59. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.61.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, April 25th. The company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.06). Boyd Gaming had a net margin of 14.91% and a return on equity of 34.76%. The firm had revenue of $960.52 million during the quarter, compared to analyst estimates of $947.26 million. Research analysts forecast that Boyd Gaming Co. will post 6.06 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Saturday, June 15th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.29%. The ex-dividend date is Friday, June 14th. Boyd Gaming’s dividend payout ratio (DPR) is 12.21%.

Boyd Gaming announced that its board has approved a stock repurchase plan on Monday, May 13th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 9.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have commented on BYD. Raymond James began coverage on Boyd Gaming in a report on Tuesday, May 21st. They issued an “outperform” rating and a $67.00 target price for the company. Truist Financial reduced their target price on Boyd Gaming from $80.00 to $75.00 and set a “buy” rating for the company in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft downgraded Boyd Gaming from a “buy” rating to a “hold” rating and reduced their target price for the company from $78.00 to $71.00 in a report on Friday, April 26th. Barclays cut their price target on Boyd Gaming from $70.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Finally, Morgan Stanley lifted their price target on Boyd Gaming from $71.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Boyd Gaming currently has a consensus rating of “Hold” and an average target price of $91.42.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,874 shares of Boyd Gaming stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $53.38, for a total value of $100,034.12. Following the completion of the sale, the director now owns 2,338 shares in the company, valued at approximately $124,802.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 27.94% of the stock is owned by company insiders.

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.