State of New Jersey Common Pension Fund D Has $2.03 Million Stake in Boyd Gaming Co. (NYSE:BYD)

State of New Jersey Common Pension Fund D lowered its holdings in Boyd Gaming Co. (NYSE:BYD) by 14.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,770 shares of the company’s stock after selling 6,030 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Boyd Gaming were worth $2,026,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its position in Boyd Gaming by 57.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock worth $35,000 after buying an additional 189 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Boyd Gaming by 58.2% during the second quarter. Blue Trust Inc. now owns 783 shares of the company’s stock worth $43,000 after purchasing an additional 288 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of Boyd Gaming during the fourth quarter valued at approximately $50,000. EntryPoint Capital LLC acquired a new stake in shares of Boyd Gaming in the first quarter valued at approximately $90,000. Finally, Covestor Ltd raised its position in Boyd Gaming by 132.6% in the 1st quarter. Covestor Ltd now owns 1,742 shares of the company’s stock worth $117,000 after purchasing an additional 993 shares during the last quarter. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Trading Down 0.2 %

Shares of NYSE BYD opened at $64.03 on Friday. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $68.46. The stock has a market cap of $6.07 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 8.56 and a beta of 1.57. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 1.70. The company’s fifty day moving average is $59.00 and its 200-day moving average is $58.46.

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

Boyd Gaming Dividend Announcement

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director Christine J. Spadafor sold 1,242 shares of the company’s stock in a transaction that occurred 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 owns 1,096 shares in the company, valued at $66,154.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Marianne Boyd Johnson sold 73,130 shares of Boyd Gaming stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total value of $4,404,619.90. Following the sale, the chairman now owns 1,423,498 shares of the company’s stock, valued at approximately $85,737,284.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christine J. Spadafor sold 1,242 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 1,096 shares in the company, valued at approximately $66,154.56. The disclosure for this sale can be found here. Corporate insiders own 27.94% of the company’s stock.

About Boyd Gaming

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.