Texas Permanent School Fund Corp Sells 40,205 Shares of Boyd Gaming Co. (NYSE:BYD)

Texas Permanent School Fund Corp lowered its position in shares of Boyd Gaming Co. (NYSE:BYD) by 66.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,605 shares of the company’s stock after selling 40,205 shares during the period. Texas Permanent School Fund Corp’s holdings in Boyd Gaming were worth $1,135,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of BYD. Principal Securities Inc. purchased a new position in Boyd Gaming during the fourth quarter valued at approximately $50,000. Norges Bank purchased a new position in Boyd Gaming during the fourth quarter valued at approximately $44,773,000. Franklin Resources Inc. grew its stake in Boyd Gaming by 20.1% during the fourth quarter. Franklin Resources Inc. now owns 627,542 shares of the company’s stock valued at $39,290,000 after acquiring an additional 105,142 shares in the last quarter. Hsbc Holdings PLC grew its stake in Boyd Gaming by 15.1% during the fourth quarter. Hsbc Holdings PLC now owns 257,566 shares of the company’s stock valued at $16,108,000 after acquiring an additional 33,861 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Boyd Gaming during the fourth quarter valued at approximately $4,336,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Price Performance

Shares of Boyd Gaming stock opened at $64.03 on Friday. Boyd Gaming Co. has a 52-week low of $49.34 and a 52-week high of $68.46. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 8.56 and a beta of 1.57. The company has a fifty day moving average of $59.00 and a 200-day moving average of $58.46. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.79 and a current ratio of 0.83.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09. Boyd Gaming had a net margin of 13.32% and a return on equity of 34.29%. The company had revenue of $967.50 million during the quarter, compared to analyst estimates of $909.49 million. During the same period in the prior year, the business posted $1.58 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts expect that Boyd Gaming Co. will post 6.25 EPS for the current year.

Boyd Gaming Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Sunday, September 15th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a yield of 1.06%. Boyd Gaming’s dividend payout ratio is currently 12.21%.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 73,130 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total value of $4,404,619.90. Following the completion of the transaction, the chairman now directly owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $60.36, for a total value of $74,967.12. Following the completion of the transaction, the director now directly owns 1,096 shares in the company, valued at approximately $66,154.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the completion of the transaction, the chairman now owns 1,423,498 shares of the company’s stock, valued at $85,737,284.54. The disclosure for this sale can be found here. 27.94% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Bank of America boosted their price objective on shares of Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley raised shares of Boyd Gaming from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $66.00 to $74.00 in a research note on Wednesday, September 4th. Macquarie cut their price target on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, Stifel Nicolaus boosted their price target on shares of Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.31.

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.