State of New Jersey Common Pension Fund D Sells 3,666 Shares of Boyd Gaming Co. (NYSE:BYD)

State of New Jersey Common Pension Fund D cut its stake in shares of Boyd Gaming Co. (NYSE:BYD) by 10.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,104 shares of the company’s stock after selling 3,666 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Boyd Gaming were worth $2,140,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BYD. Covestor Ltd lifted its position in shares of Boyd Gaming by 54.9% during the third quarter. Covestor Ltd now owns 587 shares of the company’s stock valued at $38,000 after purchasing an additional 208 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Boyd Gaming by 22.4% during the 3rd quarter. QRG Capital Management Inc. now owns 12,642 shares of the company’s stock worth $817,000 after buying an additional 2,313 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Boyd Gaming by 921.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock worth $57,000 after buying an additional 802 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Boyd Gaming by 24.5% in the third quarter. New York State Common Retirement Fund now owns 402,584 shares of the company’s stock valued at $26,027,000 after acquiring an additional 79,103 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Boyd Gaming by 21.0% during the third quarter. US Bancorp DE now owns 2,590 shares of the company’s stock valued at $167,000 after acquiring an additional 449 shares during the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Boyd Gaming news, CFO Josh Hirsberg sold 21,549 shares of Boyd Gaming stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $71.43, for a total transaction of $1,539,245.07. Following the completion of the sale, the chief financial officer now owns 438,615 shares of the company’s stock, valued at $31,330,269.45. The trade was a 4.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Keith Smith sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $73.49, for a total value of $2,939,600.00. Following the transaction, the chief executive officer now directly owns 1,161,202 shares in the company, valued at approximately $85,336,734.98. This represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 161,076 shares of company stock worth $10,702,931 in the last three months. Corporate insiders own 27.94% of the company’s stock.

Boyd Gaming Trading Down 0.7 %

Shares of BYD opened at $73.02 on Friday. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $74.78. The stock has a market cap of $6.45 billion, a PE ratio of 13.93, a P/E/G ratio of 9.64 and a beta of 1.55. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The business’s 50-day moving average price is $65.74 and its 200-day moving average price is $59.26.

Boyd Gaming Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Sunday, September 15th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Friday, September 13th. Boyd Gaming’s payout ratio is 12.98%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BYD shares. Bank of America boosted their price objective on Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. increased their price target on shares of Boyd Gaming from $68.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Barclays lifted their price objective on shares of Boyd Gaming from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Stifel Nicolaus increased their target price on shares of Boyd Gaming from $67.00 to $74.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Finally, Truist Financial upped their price objective on Boyd Gaming from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.38.

Boyd Gaming 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.