Boyd Gaming Co. (NYSE:BYD) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund decreased its position in shares of Boyd Gaming Co. (NYSE:BYD) by 8.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,678 shares of the company’s stock after selling 5,322 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.06% of Boyd Gaming worth $3,681,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BYD. Allspring Global Investments Holdings LLC boosted its stake in shares of Boyd Gaming by 57.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after buying an additional 189 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Boyd Gaming by 57.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 647 shares of the company’s stock worth $41,000 after purchasing an additional 236 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Boyd Gaming by 0.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 31,457 shares of the company’s stock worth $2,118,000 after purchasing an additional 264 shares in the last quarter. QRG Capital Management Inc. boosted its position in Boyd Gaming by 3.0% during the fourth quarter. QRG Capital Management Inc. now owns 11,363 shares of the company’s stock worth $711,000 after purchasing an additional 327 shares in the last quarter. Finally, AlphaMark Advisors LLC boosted its position in Boyd Gaming by 4.5% during the first quarter. AlphaMark Advisors LLC now owns 7,858 shares of the company’s stock worth $529,000 after purchasing an additional 341 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

Wall Street Analysts Forecast Growth

BYD has been the subject of a number of analyst reports. Stifel Nicolaus cut their price target on Boyd Gaming from $71.00 to $65.00 and set a “hold” rating for the company in a report on Friday, April 26th. StockNews.com raised Boyd Gaming from a “hold” rating to a “buy” rating in a report on Monday. Wells Fargo & Company cut their price target on Boyd Gaming from $82.00 to $71.00 and set an “overweight” rating for the company in a report on Friday, April 26th. Royal Bank of Canada cut their price target on Boyd Gaming from $337.00 to $308.00 and set an “outperform” rating for the company in a report on Thursday, May 16th. Finally, Raymond James initiated coverage on Boyd Gaming in a report on Tuesday, May 21st. They issued an “outperform” rating and a $67.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $90.92.

Insider Transactions at Boyd Gaming

In other news, Director Christine J. Spadafor sold 1,874 shares of the company’s 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 of the company’s stock, valued at $124,802.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 27.94% of the company’s stock.

Boyd Gaming Stock Performance

Boyd Gaming stock opened at $58.53 on Friday. The firm has a market capitalization of $5.55 billion, a P/E ratio of 10.51 and a beta of 1.58. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.61. The stock has a fifty day moving average price of $54.66 and a 200 day moving average price of $59.79. Boyd Gaming Co. has a 52 week low of $49.34 and a 52 week high of $72.58.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.47 by $0.11. The company had revenue of $967.50 million during the quarter, compared to analyst estimates of $909.49 million. Boyd Gaming had a return on equity of 34.76% and a net margin of 14.91%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.58 earnings per share. Equities research analysts anticipate that Boyd Gaming Co. will post 6.04 earnings per share for the current year.

Boyd Gaming Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Saturday, June 15th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, June 14th. Boyd Gaming’s payout ratio is 12.21%.

Boyd Gaming declared that its Board of Directors has approved a share 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

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.