Alaska Permanent Fund Corp Makes New Investment in Boyd Gaming Co. (NYSE:BYD)

Alaska Permanent Fund Corp acquired a new stake in Boyd Gaming Co. (NYSE:BYD) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 7,000 shares of the company’s stock, valued at approximately $438,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. grew its stake in shares of Boyd Gaming by 885.4% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,657,441 shares of the company’s stock valued at $100,822,000 after buying an additional 1,489,240 shares during the period. HG Vora Capital Management LLC lifted its stake in shares of Boyd Gaming by 12.5% in the 3rd quarter. HG Vora Capital Management LLC now owns 2,250,000 shares of the company’s stock valued at $136,868,000 after purchasing an additional 250,000 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Boyd Gaming by 40.5% during the 3rd quarter. American Century Companies Inc. now owns 824,200 shares of the company’s stock worth $50,136,000 after purchasing an additional 237,525 shares during the period. International Assets Investment Management LLC acquired a new stake in Boyd Gaming during the 4th quarter worth approximately $117,720,000. Finally, Vanguard Group Inc. raised its holdings in Boyd Gaming by 2.1% in the third quarter. Vanguard Group Inc. now owns 7,980,306 shares of the company’s stock valued at $485,442,000 after buying an additional 167,849 shares during the period. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Boyd Gaming

In related news, Director A. Randall Thoman sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total transaction of $159,375.00. Following the sale, the director now directly owns 4,017 shares of the company’s stock, valued at approximately $256,083.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director A. Randall Thoman sold 2,500 shares of Boyd Gaming stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total value of $159,375.00. Following the completion of the transaction, the director now directly owns 4,017 shares of the company’s stock, valued at approximately $256,083.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Keith Smith sold 75,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $63.92, for a total transaction of $4,794,000.00. Following the sale, the chief executive officer now owns 1,119,625 shares in the company, valued at approximately $71,566,430. The disclosure for this sale can be found here. Insiders sold a total of 582,910 shares of company stock valued at $37,299,461 over the last three months. 27.94% of the stock is owned by insiders.

Boyd Gaming Stock Performance

Boyd Gaming stock opened at $53.18 on Friday. Boyd Gaming Co. has a 52 week low of $52.42 and a 52 week high of $73.00. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. The stock has a market cap of $5.09 billion, a P/E ratio of 9.55, a price-to-earnings-growth ratio of 2.94 and a beta of 1.60. The stock has a 50 day moving average of $63.98 and a 200-day moving average of $62.01.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, February 8th. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The firm had revenue of $954.41 million for the quarter, compared to the consensus estimate of $928.04 million. Boyd Gaming had a net margin of 14.91% and a return on equity of 34.77%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.72 EPS. On average, analysts expect that Boyd Gaming Co. will post 6.19 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, March 14th. Boyd Gaming’s dividend payout ratio (DPR) is 12.21%.

Wall Street Analyst Weigh In

BYD has been the topic of a number of research reports. StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Wednesday, January 24th. Barclays cut their price objective on Boyd Gaming from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. downgraded Boyd Gaming from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $80.00 to $67.00 in a research report on Friday. Morgan Stanley raised their target price on Boyd Gaming from $71.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Truist Financial decreased their price target on Boyd Gaming from $80.00 to $75.00 and set a “buy” rating for the company in a report on Friday. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Boyd Gaming presently has a consensus rating of “Hold” and an average price target of $72.20.

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.